Pelosi’s Klan Gets $737 Million DOE Loan

[freedombecki]

this was what i was asking you about..... pelosi FORCING taxpayers to feather her family nest....

was this comment about this thread topic....her brother in law's company getting a loan? Or were you referring to something else she had done?

I don't know you want out of me in regard to this self-enriching politician. I'm just and only a citizen who is gravely concerned this deplorable behavior of a sitting congressman who welches money for her family purse, and has done so in the past. No, I don't have a link, I read about it in a newspaper.

I feel that an investigation is warranted on this issue.

I want Nancy Pelosi's family to decline accepting this plum and recuse itself from demand/taking more money away from taxpayers. It's indecent and they're big fat pigs.

 

[DontBeStupid]

Here we go again. No one seems to care these are loan guarantees and not loans.

Sorry, continue crying.

You truly are an ignorant fool.

They are taxpayer backed guarantees......Do you even understand what that means?

Here's a clue:

That half billion dollar guarantee given to Solyndra, means the taxpayers are on the hook for the loan. The taxpayers are required to pay back that loan. The taxpayers will never see that money again. It's gone. And it's the primary reason the guarantee is being fully investigated, and is showing to lead directly to the oval office.

Quit being fuckin' stupid!

Now ask yourself, what is different about Solyndra from SolarReserve?

 

[SFC Ollie]

So you think that because a law exists that proves Pelosi broke it?

Wow dude. Well done.

So, you see no problem with Congress allocating monies to the relatives on Congressional members?

I think you're mistaken about what is happening here. No taxpayer money is being sent to this company and will never be sent to this company. Despite what many "conservatives" here want you to believe. A loan guarantee is just that. A GUARANTEE. The only time taxpayer money will be sent anywhere is if the company defaults and then the money goes to the bank, not the company.

As for conflict of interest, just because a relative gets the benefit doesn't mean anything illegal or wrong has happened. As I have stated, multiple times, and been negative repped by most "conservatives" for it, the law states that any company can apply for these guaranteed loans. It is unconstitutional to treat this company and its board differently purely because a relative of an elected official is on the board.

Now, I know many of you hate Pelosi, just because, but that doesn't mean any laws have been broken here. If you believe that, then prove it, but you haven't, and you're not even trying to.

And with the recent record of this type of company and some of the same people being involved why did they get the loan guarantee? Connections.....Conflict of Interest, Call it anything you like, it should not have happened. And I don't give a rats ass who or which side was involved. It should not have happened... And no stupid. you cannot justify it.

 

[Uncensored2008]

Now ask yourself, what is different about Solyndra from SolarReserve?

Is that a trick question?

Same pigs at the trough, Obama flying out to do his hourly press conference from there, connections back to Pelosi...

What's different? Not a fucking thing, apparently. Oh, I guess they're stealing more money this time, that's different. I assume the additional quarter billion will find it's way to Obama's election fund.

 

[Care4all]

i have a question....who gave the department of energy the authority for this....? Did congress's bill delegate the dept of energy with the task of approving these loan backings? I wonder how all of that was laid out and by whom?

 

[Mr. H.]

DOE FY 2011 Budget Overview

http://energy.gov/sites/prod/files/edg/media/Secretary_Chu_2011_Budget_rollout_presentation.pdf

 

[eflatminor]

i have a question....who gave the department of energy the authority for this....? Did congress's bill delegate the dept of energy with the task of approving these loan backings? I wonder how all of that was laid out and by whom?

No one gave them the permission because no one has the permission...not the Congress, not the President...no one.

 

[Trajan]

The House needs to file ethics charges against Pelosi. This is pure corruption.

hell, they are still stuck on Maxine Waters.....and btw...?

 

[Trajan]

i have a question....who gave the department of energy the authority for this....? Did congress's bill delegate the dept of energy with the task of approving these loan backings? I wonder how all of that was laid out and by whom?

hi care....once the money is apportioned to the DOE they can do pretty much what they want with it, like the dept of transportation paying fore airport construction etc. They farm out the investigations to the OMB as to what the status of the co. and get their recommendations etc etc...its all laid out in one of the Solyndra threads. ( full disclosure, the DOE employs me). At the end of the day Steven Chu answers for this funding.

 

[Immanuel]

Now ask yourself, what is different about Solyndra from SolarReserve?

Is that a trick question?

Same pigs at the trough, Obama flying out to do his hourly press conference from there, connections back to Pelosi...

What's different? Not a fucking thing, apparently. Oh, I guess they're stealing more money this time, that's different. I assume the additional quarter billion will find it's way to Obama's election fund.

What's different?

Why, they have not defaulted on the guaranteed loan...

























... yet.

Immie

 

[EriktheRed]

The next fake solar scandal - The Term Sheet: Fortune's deals blog Term Sheet

 

[Care4all]

i have a question....who gave the department of energy the authority for this....? Did congress's bill delegate the dept of energy with the task of approving these loan backings? I wonder how all of that was laid out and by whom?

hi care....once the money is apportioned to the DOE they can do pretty much what they want with it, like the dept of transportation paying fore airport construction etc. They farm out the investigations to the OMB as to what the status of the co. and get their recommendations etc etc...its all laid out in one of the Solyndra threads. ( full disclosure, the DOE employs me). At the end of the day Steven Chu answers for this funding.

are there many applicants, and every one of them gets backing? Is it on a first come first serve? Do they have to show what they are going to do with the money ahead of time? Or do they bid for the money and whoever promises (with solid numbers to back it) to generate more of the widget or more jobs, win's the backing?

i agree our government is broken....

I don't know if this is quid pro quo, or is not....?

But i do know that we need more oversight in things just like this, throughout our gvt....i say no department gets any money until they show and prove they need it and that they are getting the most value out of what they are spending, or "giving away, through backing or cash'....

 

[MeBelle]

i have a question....who gave the department of energy the authority for this....? Did congress's bill delegate the dept of energy with the task of approving these loan backings? I wonder how all of that was laid out and by whom?

I found some answers!

This started in:
Economic Stimulus News and Video - FOX News Topics - FOXNews.com
In February 2009, President Obama signed the American Recovery and Reinvestment Act of 2009. In early 2009, the Congressional Budget Office estimated that the Recovery Act's combined spending and tax provisions would cost $787 billion. In early 2010, CBO updated its estimate of the cost of the Recovery Act. It now estimates that the Recovery Act will cost $75 billion more than originally estimated - CBO now anticipates that the 2009 Stimulus will increase deficits by $862 billion over ten years.

Then it went here~~~
Energy Department Approves 2 Solar Loans Worth $1B | Fox News
WASHINGTON -- The Energy Department on Wednesday approved two loan guarantees worth more than $1 billion for solar energy projects in Nevada and Arizona, two days before the expiration date of a program that has become a rallying cry for Republican critics of the Obama administration's green energy program.
Energy Secretary Steven Chu said the department has completed a $737 million loan guarantee to Tonopah Solar Energy for a 110 megawatt solar tower on federal land near Tonopah, Nev., and a $337 million guarantee for Mesquite Solar 1 to develop a 150 megawatt solar plant near Phoenix.

The loans were approved under the same program that paid for a $528 million loan to Solyndra Inc., a California solar panel maker that went bankrupt after receiving the money and laid off 1,100 workers. Solyndra is under investigation by the FBI and is the focal point of House hearings on the program.


Took a little searching to connect the dots.

 

[Care4all]

i have a question....who gave the department of energy the authority for this....? Did congress's bill delegate the dept of energy with the task of approving these loan backings? I wonder how all of that was laid out and by whom?

hi care....once the money is apportioned to the DOE they can do pretty much what they want with it, like the dept of transportation paying fore airport construction etc. They farm out the investigations to the OMB as to what the status of the co. and get their recommendations etc etc...its all laid out in one of the Solyndra threads. ( full disclosure, the DOE employs me). At the end of the day Steven Chu answers for this funding.

btw, why in the heck are we paying for runways at airports etc? Why aren't the businesses that operate out of the airports pay for the airports reconstruction needs? Isn't that considered a subsidy for the airlines?

 

[Soggy in NOLA]

i have a question....who gave the department of energy the authority for this....? Did congress's bill delegate the dept of energy with the task of approving these loan backings? I wonder how all of that was laid out and by whom?

hi care....once the money is apportioned to the DOE they can do pretty much what they want with it, like the dept of transportation paying fore airport construction etc. They farm out the investigations to the OMB as to what the status of the co. and get their recommendations etc etc...its all laid out in one of the Solyndra threads. ( full disclosure, the DOE employs me). At the end of the day Steven Chu answers for this funding.

btw, why in the heck are we paying for runways at airports etc? Why aren't the businesses that operate out of the airports pay for the airports reconstruction needs? Isn't that considered a subsidy for the airlines?

Do you have any clue the amount of money that airline traffic generates for a metropolitan area?

 

[jillian]

I wonder how much Cheney made off of haliburton?

 

[Care4all]

hi care....once the money is apportioned to the DOE they can do pretty much what they want with it, like the dept of transportation paying fore airport construction etc. They farm out the investigations to the OMB as to what the status of the co. and get their recommendations etc etc...its all laid out in one of the Solyndra threads. ( full disclosure, the DOE employs me). At the end of the day Steven Chu answers for this funding.

btw, why in the heck are we paying for runways at airports etc? Why aren't the businesses that operate out of the airports pay for the airports reconstruction needs? Isn't that considered a subsidy for the airlines?

Do you have any clue the amount of money that airline traffic generates for a metropolitan area?

sure, but why do my income taxes or gas taxes have to go towards someone elses metro area? shouldn't the metro area that benefits from it be the ones who pay for it, if government does have to be involved, instead of the airlines.... ?

 

[logical4u]

reading this makes it appear to me they are going for broke. talk about ballsy, the same firms from the Solyndra debacle too?

Alas...in every age when the light of the cause begins begins to wane, they fill their pockets and head for the door, approving anything and taking anything they can in that last gasp, what difference can it make when Armageddon beckons?


11:00 AM, Sep 29, 2011 • By MARK HEMINGWAY

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:

Steve Mitchell and Argonaut Private Equity might have a chance to recoup some of their losses in the Solyndra debacle now that the Department of Energy has given a $737 million dollar loan guarantee to a company backed by Argonaut that also lists Mitchell among its board of directors.

Mitchell served on the Solyndra LLC Board of Directors. He also serves as Managing Director for Argonaut Private Equity, a company that invested in Solyndra through the LLCs parent company.

snip-


and...thats not all!! Order right now and, a presidential fly in !!!!!


continued;

And for good measure, it's also noteworthy that Obama is about to hold a big money fundraiser at the home of Tom Carnahan in St. Louis:

Carnahan, a member of the prominent Missouri Democratic family, has been tapped by the Obama campaign as its chief Missouri fundraiser. He is chairman of the board of Wind Capital Group, a wind energy company that makes it corporate headquarters in St. Louis. He formerly was president and CEO of the company.

Last year, Wind Capital's Lost Creek Farm facility in northwest Missouri received a $107 million tax credit from the Treasury Department, among many such wind operations receiving support from from stimulus funds.

Tom Carnahan is the son of former Missouri governor Mel Carnahan and former U.S. senator Jean Carnahan. He's also the brother of current Missouri secretary of state, Robin Carnahan.

more at
Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law | The Weekly Standard

At least Haliburton could supply technical expertise and actually finish a job!

 

[Meister]

reading this makes it appear to me they are going for broke. talk about ballsy, the same firms from the Solyndra debacle too?

Alas...in every age when the light of the cause begins begins to wane, they fill their pockets and head for the door, approving anything and taking anything they can in that last gasp, what difference can it make when Armageddon beckons?


11:00 AM, Sep 29, 2011 • By MARK HEMINGWAY

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:

Steve Mitchell and Argonaut Private Equity might have a chance to recoup some of their losses in the Solyndra debacle now that the Department of Energy has given a $737 million dollar loan guarantee to a company backed by Argonaut that also lists Mitchell among its board of directors.

Mitchell served on the Solyndra LLC Board of Directors. He also serves as Managing Director for Argonaut Private Equity, a company that invested in Solyndra through the LLCs parent company.

snip-


and...thats not all!! Order right now and, a presidential fly in !!!!!


continued;

And for good measure, it's also noteworthy that Obama is about to hold a big money fundraiser at the home of Tom Carnahan in St. Louis:

Carnahan, a member of the prominent Missouri Democratic family, has been tapped by the Obama campaign as its chief Missouri fundraiser. He is chairman of the board of Wind Capital Group, a wind energy company that makes it corporate headquarters in St. Louis. He formerly was president and CEO of the company.

Last year, Wind Capital's Lost Creek Farm facility in northwest Missouri received a $107 million tax credit from the Treasury Department, among many such wind operations receiving support from from stimulus funds.

Tom Carnahan is the son of former Missouri governor Mel Carnahan and former U.S. senator Jean Carnahan. He's also the brother of current Missouri secretary of state, Robin Carnahan.

more at
Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law | The Weekly Standard

At least Haliburton could supply technical expertise and actually finish a job!

Not like there was a whole lot of businesses that do what they do on the global scale. That's why there were no-bid contracts given to Haliburton by BOTH democrat and republican presidents, which will continue in the future also.

 

[McDowell's]

The next fake solar scandal - The Term Sheet: Fortune's deals blog Term Sheet

You link to an article which points out previous fraudulent activity of the company Pelosi's brother in law works for and expect that to allay everyone's suspicions?

Yup, they're straight as an arrow. They wouldn't try to pull strings or use political connections to get ahead.

And as for the Pelosi doesn't have a financial interest line of reasoning. He WORKS for a company that has a large stake in this company. Of course he has a financial interest. If the company he works for does well, he's going to do well. Oh wait, most people don't give a shit about making their employer money because they don't give a shit about having a job, getting promoted, or getting a fat bonus. I forgot about that.