Hilary and coal mining

[spence]

Originally Posted by buckman

After doing a little research it appears you are wrong again. In 2014 it looked like it would turn a $5 billion profit.,but by 2015 it was 2.2 billion in the hole .
And don't forget those bankruptcies and how many people they hurt .
But you wouldn't care about that
Posted from my iPhone/Mobile device

No, you're reading it wrong or whomever you're reading read it wrong. I'd like to see the source.

The 2.2B refers to credit servicing costs that were factored into the program...because of improved credit among some of the loaners the credit service cost was half of what was expected.

The 5B in profit was a misinterpretation by the media according to the GAO...

DOE provides information related to the costs of its loan programs in
reports, financial statements, and budget documents. Other entities,
including Congress and the public, rely on this information to weigh the
benefits of these programs, but the complexity of this information can lead
to confusion if users of this information are not aware of the context. For
example, DOE reported in November 2014 that the loan programs had
earned more than $810 million in interest and that DOE expected to earn
$5 billion in interest payments over the life of the loans and loan
guarantees.3 However, in part because this report did not include the
interest that DOE pays the government to finance its lending, the
information on expected interest earnings has been misinterpreted in
several media accounts as projecting $5 billion in profits for the DOE loan
programs.

http://www.gao.gov/assets/680/675595.pdf