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New Green Loan Renews Obama Cronyism Claims

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posted on Sep, 30 2011 @ 07:24 PM
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GOP claims that the Obama administration’s green energy loan guarantee program is mired in cronyism grew on Friday after a company tied to Nancy Pelosi’s brother-in-law got the lion’s share of the final government hand-outs made before Friday’s end of the fiscal year.

The decision to guarantee $737 million comes hard on the heels of the loss of more than $500 million of government money due to the bankruptcy of solar panel company Solyndra.

The new grant went to Tonopah Solar Energy, a subsidiary of SolarReserve, which started building Crescent Dunes, a massive solar-thermal plant in the Nevada desert in early September.

One of SolarReserve’s major financial backers is the PCG Clean Energy & Technology Fund (East), whose second-in-command is Ronald Pelosi, the brother of the House Minority leader’s husband, Paul. Another investor is Argonaut Private Equity, a company that lost heavily in the Solyndra debacle.


There is no proof as of yet that this is another episode of crony capitalism but it is deeply suspicious. First of all why would they rush this to be passed, did Solyndra teach them nothing about what happens when you rush things? Second why would they want to spend this money at such a time knowing the connections Nancy Pelosi’s brother-in-law has to the company involved? Third, could this be another one of the administrations ‘smart’ investments in green energy which is just another reward to Liberal donors?

This is our money, what we pay in taxes could be used to pay off Democratic donors and allies. Mr. Obama should have learned by now that this is not a good time to do anything suspicious, or is it just the blood of Chicago politics which he just cannot seem to shake? Either way it is about time we halt entirely any money spent on green projects until we know exactly what has been going on in this administration with tax payer money.




posted on Sep, 30 2011 @ 07:45 PM
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Originally posted by Misoir
Source


GOP claims that the Obama administration’s green energy loan guarantee program is mired in cronyism grew on Friday after a company tied to Nancy Pelosi’s brother-in-law got the lion’s share of the final government hand-outs made before Friday’s end of the fiscal year.

The decision to guarantee $737 million comes hard on the heels of the loss of more than $500 million of government money due to the bankruptcy of solar panel company Solyndra.

The new grant went to Tonopah Solar Energy, a subsidiary of SolarReserve, which started building Crescent Dunes, a massive solar-thermal plant in the Nevada desert in early September.

One of SolarReserve’s major financial backers is the PCG Clean Energy & Technology Fund (East), whose second-in-command is Ronald Pelosi, the brother of the House Minority leader’s husband, Paul. Another investor is Argonaut Private Equity, a company that lost heavily in the Solyndra debacle.


There is no proof as of yet that this is another episode of crony capitalism but it is deeply suspicious. First of all why would they rush this to be passed, did Solyndra teach them nothing about what happens when you rush things? Second why would they want to spend this money at such a time knowing the connections Nancy Pelosi’s brother-in-law has to the company involved? Third, could this be another one of the administrations ‘smart’ investments in green energy which is just another reward to Liberal donors?

This is our money, what we pay in taxes could be used to pay off Democratic donors and allies. Mr. Obama should have learned by now that this is not a good time to do anything suspicious, or is it just the blood of Chicago politics which he just cannot seem to shake? Either way it is about time we halt entirely any money spent on green projects until we know exactly what has been going on in this administration with tax payer money.



Misoir, haven't you figured it out yet brother? Nearly this entire crop of Congressmen, Senators, and officials in the Executive branch are nothing but liars and thieves. Why do you think their approval rating is a miserable 17%? The time to do something is now while people are so pissed off. We really need to just dump every single one of them and hire some new public servants; with term limits to keep them from accumulating so much power.

Remember the old adage: "Power corrupts. Absolute power corrupts absolutely." You can't beat them, they have the system gamed to their advantage and some of them have been doing it (screwing us and making money for themselves) for 15, 20, even 30 years. Most of the pork that is passed goes to somebody's brother-in-law, second cousin, best friend from college - crap like that. So no, you can't beat them at their game; but we CAN fire them.

BTW, nice to see ya.
edit on 9/30/2011 by OldCorp because: (no reason given)



posted on Sep, 30 2011 @ 08:25 PM
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reply to post by Misoir
 


heres another link

www.dailymail.co.uk...


Obama administration approved $1bn in green energy loans days after failed Solyndra project due to be completed $737m handed to Crescent Dunes project in Tonopah, Nevada, for 110-megawatt desert solar power plant Investors include firm Minority leader's brother-in-law and major Solyndra stakeholder Republicans warn Energy Department is 'rushing' $5bn in loans ahead of Friday deadline Read more: www.dailymail.co.uk...


i say this is true and it is crony capitalism solyndra spent millions on lobbying washington and it worked for them

not so much for us.

remember now this is the most honest congress this nation has ever had and they sure drained it.and the swamp

edit on 30-9-2011 by neo96 because: (no reason given)



posted on Sep, 30 2011 @ 11:56 PM
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No wonder Nancy has been "quiet" lately !!

I wonder if she was able to read the bill and grant approvals ahead of time ?

I would guess so, since her relatives did



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