PDA

View Full Version : Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law


Rockntractor
09-29-2011, 02:59 PM
Despite the growing Solyndra scandal, yesterday the Department of Energy approved $1 billion in new loans to green energy companies -- including a $737 million loan guarantee to a company known as SolarReserve:

SolarReserve LLC, a closely held renewable energy developer, received a $737 million U.S. Energy Department loan guarantee to build a solar-thermal project in Nevada.

The 110-megawatt Crescent Dunes project, near Tonopah, Nevada, will use the sun’s heat to create steam that drives a turbine, the agency said today in a e-mailed statement. SolarReserve is based in Santa Monica, California.

On SolarReserve's website is a list of "investment partners," including the "PCG Clean Energy & Technology Fund (East) LLC." As blogger American Glob quickly discovered, PCG's number two is none other than "Ronald Pelosi, a San Francisco political insider and financial industry polymath who happens to be the brother-in-law of Nancy Pelosi, the Minority Leader of the United States House of Representatives."

But wait... there's more! One of SolarReserve's other investment partners is Argonaut Private Equity:
http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html
NJCardFan
09-29-2011, 03:47 PM
They don't even hide it.
Starbuck
09-29-2011, 05:51 PM
Kind of reminds me of the 'Friends of Bil'l status enjoyed by super-donors to the Democratic Party.
Rockntractor
09-29-2011, 06:13 PM
They don't even hide it.

They know we are afraid to go after the current administration.
Tipsycatlover
09-29-2011, 06:33 PM
We've gone beyond Banana Republic, straight to African Despot.
Odysseus
09-29-2011, 07:15 PM
They don't even hide it.

They don't have to. The media won't report it. Do you really expect the NY Times to run this story?
JB
09-29-2011, 07:24 PM
$737 million???

It better be able to produce 1.21 jiggawatts.
Zathras
09-29-2011, 07:28 PM
$737 million???

It better be able to produce 1.21 jiggawatts.

And fit in the back of a De Lorian
hai
09-29-2011, 07:29 PM
A waste of government money.
Zathras
09-29-2011, 07:38 PM
A waste of government money.

Bzzzzzt....wrong answer....thanks for playing.

The correct answer is "A waste of the American taxpayers money".
Odysseus
09-29-2011, 09:36 PM
Bzzzzzt....wrong answer....thanks for playing.

The correct answer is "A waste of the American taxpayers money".

Not just waste, but misappropriation and embezzling. The administration funneled money into a company that is run by Nancy Pelosi's brother-in-law. Waste is negligence, but this is criminal intent.