Posted on 09/28/2011 2:26:47 PM PDT by opentalk
Its as if Solyndra never happened. The Obama Administration is giving $737 million to a Tonopah Solar, a subsidiary of California-based SolarReserve. PCG is an investment partner with SolarReserve. Nancy Pelosis brother-in-law happens to be the number two man at PCG.
Team Obama is spending $737 million to create 45 permanent jobs. The Hill reported, via Free Republic:
The Energy Department announced Wednesday that is has finalized a $737 million loan guarantee for a Nevada solar project. The decision comes several weeks after a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009 filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.The $737 million loan guarantee will help finance construction of the Crescent Dunes Solar Energy Project, a 110-megawatt solar-power-generating facility in Nye County, Nev. The project is sponsored by Tonopah Solar, a subsidiary of California-based SolarReserve.
(Excerpt) Read more at thegatewaypundit.com ...
Isn’t this illegal as well as unethical, or does that not matter anymore?
Do Senators Issa and Grassley know this?
Obama is a) shameless and b) hoping these companies will look OK going into Nov. 2012 so he can say “Look, venture is risky, but it is worth it for the investments that work out.”
Isn’t this illegal as well as unethical, or does that not matter anymore?
The Secret Government Bank That's Financing More Solyndras
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I think you have hit upon something. The government has become a venture capital firm with the taxpayer money and without the due diligence.
Thanks, missed it.
and why are republicans letting this through without some kind of FIGHT!?
Seems both sides are corrupt
Being built in Nevada!
I wonder if Dingy Harry’s greasey little hands are in this also??
True, and I would add it's a little worse than that. The selection policy is guided by political cronyism and the Green religion. It's worse than just carelessness with respect to due diligence--it's got factors that bias toward bad investment selection more than just ignorance or chance.
I’ve been from Tucson to Tucumcari
Tehacepi to Tanapah
Driven every kind of rig that’s ever been made
I’ve driven the back roads so I won’t get weighed
And if you give me weed whites and wine
and you show me a sign
I’ll be willin to keep moving
Just reminded me of Jon Randall....
Of course Reid hands are in it!
All that matters right now is the next election. Everything he does between now and then will be calculated to either funnel money to supporters that will launder it and send it back to their campaign coffers or pay for campaign workers, or pander to special interest groups in exchange for votes come next November.
And, the stench of Obama’s corruption just gets worse.
Pity that the ‘Pubbies lack the cajones to impeach him and send him into political oblivion . . . . . or prison, I’m fine with either one (although prison is a very appealing option).
Does the Constitution allow for citizen arrests for members of the executive branch?
As far as I know all of this money was allocated by the previous Congress and signed into law by Obama (read stimulus), so it is in the system already. Apparently the current Congress can't stop it.
They could still have hearing, or bring a bill up in the house to get the money de-allocated, I know it would fail in the senate, but the republicans seem to not play politics at all on that level.
Venture capital? More like political payoffs and laudering taxpayer money that will be recycled back into Democrat coffers.
Not to argue but they are holding hearings, that is why all of this is being discussed. But in this case the loan was just made today.
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