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Excerpted:

Pelosi’s Brother-In-Law’s Company Received $737,000,000 From Obama’s Energy Dept As “Loan Guarantee”

For background we cite a September 2011 article from the Daily Mail:

Even as government financed “green energy” pioneer Solyndra was failing, the Obama administration approved an additional $1 Billion in loans to similar green energy projects.

Nancy Pelosi’s brother-in-law was previously an “Executive Director”, and at the time the loan was completed, Ron Pelosi was an “Independent Director” of a parent company who held a minority share of the company that was a primary beneficiary of that money landing a $737 million loan guarantee from the Department of Energy for Crescent Dunes.

Despite knowledge that Solyndra was tanking then-Minority Leader Pelosi’s brother-in-law, second in command at the energy investment firm backing the project, somehow secured government funding for the SolarReserve project.

PCG Clean Energy & Technology Fund (East) LLC, listed as one of the investors in the project was given the staggering loan, which even dwarfs that given to failed company Solyndra. PCG Clean Energy & Technology Fund was reportedly a 2% owner of Tonopah.

The project was expected to generate enough electricity to power 43,000 homes. That’s it.

Obama’s Energy Secretary Steven Chu announced the loan just two days after the doomed $535 million Solyndra disaster was scheduled for completion.

At the time, Florida Rep. Cliff Stearns, then-chairman of the investigations subcommittee of the House Committee on Energy and Commerce warned:

“The administration’s flagship project Solyndra is bankrupt and being investigated by the FBI, the promised jobs never materialized, and now the Department of Energy is preparing to rush out nearly $5 billion in loans in the final 48 hours before stimulus funds expire — that’s nearly $105 million every hour that must be finalized until the deadline.”

Despite the warnings, Energy Secretary Chu, said the projects would create 900 construction jobs and, get ready for this, trumpets please… 52 permanent jobs.

More disturbing is that other investors included Steve Mitchell, who served on the board of directors of Solyndra while the company was collapsing.

All told, Obama era expenditures, first put in place by Speaker Pelosi, who did away with the usual budgetary process, exceeded revenues by more than $1 Trillion each year.

This became the baseline for unquestioned omnibus spending packages that subsequent Republican Speakers John Boehner and Paul Ryan refused to reign in. Welcome to the UniParty ripoff of America’s taxpayers.
From:
https://illicitinfo.com/2949/