Ford, Tesla, Solyndra: Good Economic News or Bunk?

Includes: F, SOLY, TSLA
by: Bruce Krasting
Some are touting Ford’s (NYSE:F) improved financial position. They actually paid down some debt and threw some crumbs to Preferred shareholders.

Some are looking to the IPO of Tesla (NASDAQ:TSLA) as an indication that the capital markets are open and doing what they are supposed to do. Raising equity for new companies.

Some are pointing to marginal gains in employment. The manufacturing sector is generating jobs. Especially in the areas of alternative energy.

This is all bunk. The money for all this is coming from Uncle Sam. This is the US Treasury doing the lending. Not private sector banks that we functionally own. This from the Federal Financing Bank: