Southern's Ratcliffe Talks About Nuclear Loan Guarantees
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Published: 02/16/10 6:06pm
Running Time: 04:01
Related Keywords: Politics, White House (Politics), Industry (Nuclear), Nuclear, Clean Skies News, Tyler Suiters, David Ratcliffe, Georgia, loan guarantees, nuclear, Obama, Southern Company
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These are loan guarantees and
These are loan guarantees and not loans.
These are carefully limited risk management transactions similar in a way to cosigning a personal loan. No taxpayer money is actually spent. The primary contingency being insured against are regulatory delays. The nuclear industry does pay a premium, related to the level of risk, to receive the loan guarantee. The taxpayer does get money back from industry for providing the loan guarantee.
Delays cost money and sink projects - preventing delays saves cost.