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Is there any truth behind this story?

Wonder why the stock is down today? Looks like following news is the contributor.

anyone knows if it has any legs?

One correction needs to be pointed out based on this thread. The loan program is still backed by the tax payer. If the company defaults on the loan, then the money is gone.

Just because its called a loan doesn't mean there are no tax payer dollars at risk.

First, the loan itself is funded by tax payers, and second, the tax payer absorbs the loses in case of default.

I personally would have rather seen Tesla use private sources for the loan, but based on their performance, and the great product they have created, this will at least be one case where tax payers (like myself), will actually benefit.

Just keep executing, Tesla!

I would love it if these forums could be a political free zone. Enough with the right/left bashing BS. This is about an awesome car. Let's keep our focus here folks.

andrightmiller - I agree with you 100%, however I suspect at the time that Tesla got the loan, it was in the middle of the 2008 sub-prime market blowback and there may not have been many other private sources of money. Frankly, govt loans to satisfy some industrial policy goal isn't, by far, the worst use of govt money. Before you chopped the DOE loan program, there are quite a few other federal government programs and departments that I would put on the chopping block, IMHO.

That loan program is a smart one: if even one company succeeds (Tesla) then it pays itself back to taxpayers many times over. It doesn't matter that some of them fail, the money gone is teeny weeny portion of the taxes people pay.

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