Biden Megadonor Scores $500 Million Federal Loan for Solar Company

excalibur

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Mar 19, 2015
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Well, of course. Would you expect anything less from these people?


Politically connected First Solar also secured $3 billion in loan guarantees from Obama administration



A solar energy company owned by a Biden megadonor received a $500 million government loan to build a manufacturing facility in India
, the Biden administration announced this week, raising questions about whether the company's political clout played any role in the financing decision.

The U.S. International Development Finance Corporation granted the loan to First Solar, which is owned by billionaire Walmart heir Lukas Walton, to build a solar module plant in India. Walton contributed over $300,000 to President Joe Biden's campaign last year, and over $100,000 to the Democratic National Committee, according to campaign finance records.

The loan to First Solar is the "largest single debt financing transaction" issued by the DFC, the agency announced this week. The DFC said the investment in the India project will "promote DFC's commitment to diversifying supply chains," following demands from lawmakers that the agency avoid funding any solar projects connected to forced labor in China.

Ethics watchdogs said the loan raises questions about whether First Solar's political connections played a role in the DFC's decision. The federal financing agency, which was formerly known as the Overseas Private Investment Corporation, has faced criticism in the past for funding projects linked to political donors. The loan also comes nine years after the Obama administration came under fire for approving $3 billion in loan guarantees to the same company—funding that Republican lawmakers alleged the company wasn't qualified to receive.

"The United States International Development Finance Corporation, formerly known as OPIC, has a history of deals gone bad when mixing taxpayer dollars with politically connected entities like First Solar," said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy Center. "This agency has a history of favoring entities backed by huge political contributors, like First Solar, by giving them less scrutiny while prioritizing politically connected projects above entities and individuals who are not politically active."

...​


 
Well, of course. Would you expect anything less from these people?


Politically connected First Solar also secured $3 billion in loan guarantees from Obama administration


A solar energy company owned by a Biden megadonor received a $500 million government loan to build a manufacturing facility in India, the Biden administration announced this week, raising questions about whether the company's political clout played any role in the financing decision.​
The U.S. International Development Finance Corporation granted the loan to First Solar, which is owned by billionaire Walmart heir Lukas Walton, to build a solar module plant in India. Walton contributed over $300,000 to President Joe Biden's campaign last year, and over $100,000 to the Democratic National Committee, according to campaign finance records.​
The loan to First Solar is the "largest single debt financing transaction" issued by the DFC, the agency announced this week. The DFC said the investment in the India project will "promote DFC's commitment to diversifying supply chains," following demands from lawmakers that the agency avoid funding any solar projects connected to forced labor in China.​
Ethics watchdogs said the loan raises questions about whether First Solar's political connections played a role in the DFC's decision. The federal financing agency, which was formerly known as the Overseas Private Investment Corporation, has faced criticism in the past for funding projects linked to political donors. The loan also comes nine years after the Obama administration came under fire for approving $3 billion in loan guarantees to the same company—funding that Republican lawmakers alleged the company wasn't qualified to receive.​
"The United States International Development Finance Corporation, formerly known as OPIC, has a history of deals gone bad when mixing taxpayer dollars with politically connected entities like First Solar," said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy Center. "This agency has a history of favoring entities backed by huge political contributors, like First Solar, by giving them less scrutiny while prioritizing politically connected projects above entities and individuals who are not politically active."​
...​


but they didnt mention plans for ohio factory?

 
Well, of course. Would you expect anything less from these people?


Politically connected First Solar also secured $3 billion in loan guarantees from Obama administration


A solar energy company owned by a Biden megadonor received a $500 million government loan to build a manufacturing facility in India, the Biden administration announced this week, raising questions about whether the company's political clout played any role in the financing decision.​
The U.S. International Development Finance Corporation granted the loan to First Solar, which is owned by billionaire Walmart heir Lukas Walton, to build a solar module plant in India. Walton contributed over $300,000 to President Joe Biden's campaign last year, and over $100,000 to the Democratic National Committee, according to campaign finance records.​
The loan to First Solar is the "largest single debt financing transaction" issued by the DFC, the agency announced this week. The DFC said the investment in the India project will "promote DFC's commitment to diversifying supply chains," following demands from lawmakers that the agency avoid funding any solar projects connected to forced labor in China.​
Ethics watchdogs said the loan raises questions about whether First Solar's political connections played a role in the DFC's decision. The federal financing agency, which was formerly known as the Overseas Private Investment Corporation, has faced criticism in the past for funding projects linked to political donors. The loan also comes nine years after the Obama administration came under fire for approving $3 billion in loan guarantees to the same company—funding that Republican lawmakers alleged the company wasn't qualified to receive.​
"The United States International Development Finance Corporation, formerly known as OPIC, has a history of deals gone bad when mixing taxpayer dollars with politically connected entities like First Solar," said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy Center. "This agency has a history of favoring entities backed by huge political contributors, like First Solar, by giving them less scrutiny while prioritizing politically connected projects above entities and individuals who are not politically active."​
...​



Get Proportional Representation and money will be much less prevalent in US politics.

You'll have more parties, much less chance of using money to win marginal seats, more opinions, parties going after a niche of voters rather than 50 + 1%.


Here's Proportional Representation Germany.

"While American candidates running for Congress or the White House spent a record-breaking $14.4 billion (€12.24 billion) on last year's election, according to the nonpartisan Center for Responsive Politics, political parties in Germany spend a fraction of that. "

"In 2017, the last time Germany held a parliamentary election, parties spent €92 million ($109.6 million) combined on their election campaigns, "

Can you imagine that the whole of the German elections cost less than like one senate race?
 
Well, of course. Would you expect anything less from these people?


Politically connected First Solar also secured $3 billion in loan guarantees from Obama administration


A solar energy company owned by a Biden megadonor received a $500 million government loan to build a manufacturing facility in India, the Biden administration announced this week, raising questions about whether the company's political clout played any role in the financing decision.​
The U.S. International Development Finance Corporation granted the loan to First Solar, which is owned by billionaire Walmart heir Lukas Walton, to build a solar module plant in India. Walton contributed over $300,000 to President Joe Biden's campaign last year, and over $100,000 to the Democratic National Committee, according to campaign finance records.​
The loan to First Solar is the "largest single debt financing transaction" issued by the DFC, the agency announced this week. The DFC said the investment in the India project will "promote DFC's commitment to diversifying supply chains," following demands from lawmakers that the agency avoid funding any solar projects connected to forced labor in China.​
Ethics watchdogs said the loan raises questions about whether First Solar's political connections played a role in the DFC's decision. The federal financing agency, which was formerly known as the Overseas Private Investment Corporation, has faced criticism in the past for funding projects linked to political donors. The loan also comes nine years after the Obama administration came under fire for approving $3 billion in loan guarantees to the same company—funding that Republican lawmakers alleged the company wasn't qualified to receive.​
"The United States International Development Finance Corporation, formerly known as OPIC, has a history of deals gone bad when mixing taxpayer dollars with politically connected entities like First Solar," said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy Center. "This agency has a history of favoring entities backed by huge political contributors, like First Solar, by giving them less scrutiny while prioritizing politically connected projects above entities and individuals who are not politically active."​
...​


Sounds like Obama and Solyndra.
 
Well, of course. Would you expect anything less from these people?


Politically connected First Solar also secured $3 billion in loan guarantees from Obama administration


A solar energy company owned by a Biden megadonor received a $500 million government loan to build a manufacturing facility in India, the Biden administration announced this week, raising questions about whether the company's political clout played any role in the financing decision.​
The U.S. International Development Finance Corporation granted the loan to First Solar, which is owned by billionaire Walmart heir Lukas Walton, to build a solar module plant in India. Walton contributed over $300,000 to President Joe Biden's campaign last year, and over $100,000 to the Democratic National Committee, according to campaign finance records.​
The loan to First Solar is the "largest single debt financing transaction" issued by the DFC, the agency announced this week. The DFC said the investment in the India project will "promote DFC's commitment to diversifying supply chains," following demands from lawmakers that the agency avoid funding any solar projects connected to forced labor in China.​
Ethics watchdogs said the loan raises questions about whether First Solar's political connections played a role in the DFC's decision. The federal financing agency, which was formerly known as the Overseas Private Investment Corporation, has faced criticism in the past for funding projects linked to political donors. The loan also comes nine years after the Obama administration came under fire for approving $3 billion in loan guarantees to the same company—funding that Republican lawmakers alleged the company wasn't qualified to receive.​
"The United States International Development Finance Corporation, formerly known as OPIC, has a history of deals gone bad when mixing taxpayer dollars with politically connected entities like First Solar," said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy Center. "This agency has a history of favoring entities backed by huge political contributors, like First Solar, by giving them less scrutiny while prioritizing politically connected projects above entities and individuals who are not politically active."​
...​




~~~~~~
OMG a replay of Solyndra. Joey Xi is repeating the same boon doggle that Obama committed.
**********​
 
Well, of course. Would you expect anything less from these people?


Politically connected First Solar also secured $3 billion in loan guarantees from Obama administration


A solar energy company owned by a Biden megadonor received a $500 million government loan to build a manufacturing facility in India, the Biden administration announced this week, raising questions about whether the company's political clout played any role in the financing decision.​
The U.S. International Development Finance Corporation granted the loan to First Solar, which is owned by billionaire Walmart heir Lukas Walton, to build a solar module plant in India. Walton contributed over $300,000 to President Joe Biden's campaign last year, and over $100,000 to the Democratic National Committee, according to campaign finance records.​
The loan to First Solar is the "largest single debt financing transaction" issued by the DFC, the agency announced this week. The DFC said the investment in the India project will "promote DFC's commitment to diversifying supply chains," following demands from lawmakers that the agency avoid funding any solar projects connected to forced labor in China.​
Ethics watchdogs said the loan raises questions about whether First Solar's political connections played a role in the DFC's decision. The federal financing agency, which was formerly known as the Overseas Private Investment Corporation, has faced criticism in the past for funding projects linked to political donors. The loan also comes nine years after the Obama administration came under fire for approving $3 billion in loan guarantees to the same company—funding that Republican lawmakers alleged the company wasn't qualified to receive.​
"The United States International Development Finance Corporation, formerly known as OPIC, has a history of deals gone bad when mixing taxpayer dollars with politically connected entities like First Solar," said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy Center. "This agency has a history of favoring entities backed by huge political contributors, like First Solar, by giving them less scrutiny while prioritizing politically connected projects above entities and individuals who are not politically active."​
...​


that means that Biden will get his 10% > $50,000,000 kickback
 
DFC was created from the BUILD Act, signed into law by Trump. This increased the budget and taxpayer exposure of the existing Overseas Private Investment Corporation (OPIC), which should have been shut down rather than expanded. Big mistake. There is no way the stated intent of the BUILD act was to use tax payer money to provide government loans to create manufacturing jobs in India. Just another smart move to put another mechanism in place for favors at the taxpayers' expense.
 

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