With a substantial repayment of the $ 529 million loan guarantee it received almost four years ago –courtesy of the U.S. taxpayer — coming due at the end of the month, the electric car company Fisker is exploring the idea of filing for bankruptcy before then. Sources have confirmed that an influential law firm from… Read more »
Posts Tagged: loan
Congress Seeks $6 Billion to Keep College Loan Rate from Doubling
Subsidized Stafford student loan interest rates will double on July 1st for loans taken out by new students entering college. President Barack Obama used the issue to rally younger voters during the last election as he advocated keeping the rates lower, which Congress did. Now, Obama and Democrats are under pressure to keep the lower rates… Read more »
Obama Loan Recipient Fisker Preps for Bankruptcy
Fiscker Automotive, a darling of the Obama Administration’s push for green energy and electric cars has hired the powerful Chicago-based Kirkland Ellis law firm to explore a potential bankruptcy filing, according to reports. The car company, which received a federal $ 529 million loan guarantee in 2009, furloughed 200 US workers at the end of… Read more »
Federal student loan interest slated to rise back to 6.8%
Once again, federal student loan interest rates are set to double from 3.4 percent to 6.8 percent (on new loans; existing ones wouldn’t be affected). Last year’s fix wasn’t great, and that happened in the pressure of an election year in which President Obama campaigned on the issue. That means this year, with student loan… Read more »