Comment Re:Your tax dollars hard at work (Score 3, Insightful) 45
... going to corporations. One billion dollars no less. Socialize the risk, privatize the profits.
Oh stop it. This is a loan to Constellation energy to help finance the cost to restart a nuclear power plant by 2027.
Why should he stop exactly explaining the situation?
Lenders take on the risk of a default, and when the government lends money, the risk is socialized.
The loan is being made to a private, for-profit corporation, who will be able to keep any profits generated by this scheme (however unlikely that may be).
Whatever activity the loan is for is irrelevant, whether it's for cranking up a crusty old nuclear power plant, or for bailing out a Wall Street firm during a market panic.