President Obama as the President of United States of America has shown he does not have to abide by the United States Constitution, and can also guarantee huge government ($537 million) loans to private companies (Solyndra) who were on the verge of financial collapse. After Solyndra’s bankruptcy, it was revealed that the company had spent a large sum of money on lobbying, and several of the company’s shareholders and executives had made substantial donations to Obama’s campaign; (as well as to Republicans), and that Solyndra executives had many meetings with White House officials which were not logged into the official White House log.
The United States Tax payer lost $535 million, a half of a billion dollars down the toilet, in addition, the company laid off approximately 1000 employees. Adding insult to injury, the laid-off staff of Solyndra Llc, the bankrupt solar panel maker that owes more than $500 million to the U.S. government, are fighting the company’s request to pay unnamed employees $500,000 in bonuses. (Source)
If the Solynda scandal is not bad enough to keep you up at night, please try this next loan on for size. “Solar Reserve LLC, a closely held renewable energy developer, received a $737 million U.S. Energy Department loan guaranteed to build a solar-thermal project in Harry Reid’s Nevada. How about that! Anothr insider loan guarantee, which now has strings to Nancy Pelosi. Does the appearance of improprieties
“Solar Reserve 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,” reports Bloomberg” 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. Solar Reserve is based in Santa Monica, California.”
The Obama administration is throwing away money with no regard of our financial crisis. It is apparent that Harry Reid, Nancy Pelosi and Hussein Obama have no regard for the United States taxpayer. “Solar Reserve 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.
As Tina wrote yesterday, Americans still favor government subsidies to companies unable to otherwise compete in the green-tech industry. That may be especially true of Nancy Pelosi and her family, but not exactly for reasons of environmental improvement. Let’s start with this report from The Hill, via Gateway Pundit and Instapundit, on the latest approved green-tech loan from the Department of Energy:
(HotAIR)”DOE announced a $737 million loan guarantee to 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.
The Energy Department said the project will result in 600 construction jobs and 45 permanent jobs.”
Forty-five permanent jobs? That puts the cost per permanent job at over $16 million, a figure that could employ perhaps a hundred people had the capital remained in the hands of the private sector that produced it. Whatever else these green-tech loans are, they certainly are not job-creation stimulus. But that’s not the best part. As both Gateway Pundit and American Glob discover, one of SolarReserve’s “investment partners” is Pacific Corporate Group, through its Clean Energy and Technology Fund. And PCG’s executive director is Ron Pelosi — brother of Nancy Pelosi’s husband. Suddenly, this deal makes a lot more sense than spending $737 million for forty-five jobs.(Complete Article)
The ink still has not even dried on the Solyndra, and he comes down the chute another guaranteed loan in the amount of $737 Million to SolarReserve LLC . This little sweetheart deal is about $200 million larger than the Solynda fiasco. This weighs in at three quarters of a billion dollars of good old taxpayer money. Obama likes to refer to these as “investments,” If it walks like a duck, and quacks like a duck, rest assured that it is some type of government loan with your MONEY. If it is such a good deal, Nancy should guarantee the loan with her own money, which really is our money, since she works for me…..Well Nancy, you are fired!
(The Blaze) 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, and Hemingway points out, 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.” 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,” reports Joel Gehrke of The Washington Examiner How would Mitchell be able to “recoup some of the losses” suffered in the Solyndra debacle? Read complete article
I do not care where you turn, left or right backwards or forwards, at every turn it seems like somebody in Washington always have their hands where they do not belong, and that has been in the pockets of our taxpayers. It appears some of the members of congress have an certain air of invincibility about them. I believe they get to a point that they feel nothing can happen to them and they do as they please. I am here to tell you, it is high time to make a clean sweep across the board in congress. There is so much corruption in Washington, that are starting to make Mexico look good. That’s a bad sign if you ask me. They are out of control
Congress has their shady deals, Obama spends what we don’t have and calls it investments, it just looks like the fix is in, and it has to STOP, and STOP now. I will tell you what, it’s a crying shame of what go’s on in Washington behind all of the closed doors, and we don’t know the half of it. We have the house and the senate, full of men and women who say that they have a solution and can save America but neither the democrats nor the republicans have an answer.
All they do all day is argue who has the best plan. All they know what to do is to agree to disagree. It would seem like if these pin headed idiots really wanted to fix America, they could do so in about a weeks time. Show it just goes to show you that neither party gives a crap about us. Social Security is broke, Medicare is broke, and Medicaid is broke…so Congress agrees to borrow more money from China. That seems to be the giant band-aide borrow, spend, borrow spend and borrow some more. Stop this insane uncontrolled spending.
Each and every one of you in Congress makes at least two to three times what an average everyday citizen makes. You got to Congress broke, and you leave with your pockets stuffed full. We get arrested for insider trading………You get rich, because it is not against the law for you to receive information from the inside, but it is against the law for us.
Enough already, can’t you see that this glorious country of ours is suffocating right before your very eyes, stop before it’s to late……..that is if you really care about our country.
Until next time…..God Bless You, and may God Bless This great Nation.