$737M Green Jobs Loan Given to Firm Employing Pelosi's Brother-in-Law

[Sandra]

$737M Green Jobs Loan Given to Firm Employing Pelosi's Brother-in-Law

Source: New Media Journal, et al
URL Source: http://newmediajournal.us/indx.php/item/3200
Published: Oct 14, 2011
Author: Numerous
 

{ Theft on this scale constitutes TREASONOUS BEHAVIOR. hr }

Weekly Standard

Despite the growing Solyndra scandal, the Department of Energy approved $1 billion in new loans September 28, 2011, to green energy companies -- including a $737 million loan guarantee to a company known as SolarReserve.

As reported at http://Businessweek.com:

"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, [former member of the San Francisco Board of Supervisors] 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."

As noted at http://TheBlaze.com:

"Ronald Pelosi joined PCG this past spring, whereas the firm first invested in SolarReserve three years ago...Ronald Pelosi’s political contacts [may] have been a reason why he was hired by PCG, but not from a federal perspective. The firm has been indirectly caught up in a California pay-to-play scandal, which resulted in it getting fired last fall by the state’s largest pension fund. If Pelosi is supposed to get PCG back in political good graces, it’s a local issue."

Yet one of SolarReserve's other investment partners is Argonaut Private Equity.

As reported in the Washington Examiner:

"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. After Solyndra declared bankruptcy, two Democratic members of the US House asked that Mitchell testify about Solyndra. Though he has not appeared before Congress, he has 'been asked to provide documents to Congress' pertaining to Solyndra."

It's also noteworthy that Pres. 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 US Senator Jean Carnahan. He's also the brother of current Missouri secretary of state, Robin Carnahan.

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Additional Reading: $737 Million ‘Green Jobs’ Loan Given to Company Affiliated with Pelosi’s Bro-in-Law

www.theblaze.com/stories/...-with-pelosis-bro-in-law/

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