Bliley Calls Loan Guarantees Risky

House Commerce Committee Chairman Tom Bliley, R-Virginia, said measures that provide federal loan guarantees to companies delivering local channels to satellite-TV subscribers are ""financially and technically risky"" during a House Telecommunications Subcommittee hearing on the issue. Bliley said he was wary of providing government subsidies to an industry that faces ""immediate and intense competition,"" adding, ""I'm concerned about taxpayer risk in such a high-stakes game."" The Congressional Budget Office has warned that the government could lose more than $200 million if the government loans are defaulted.Source: CreativePlanet.com