The Energy Department, in all its glory, has approved two more “green” loan guarantees worth a combined total of $1 billion, one being a $737 million loan to a company called SolarReserve. Yes we know, Solyndra was a bust, yes we know, green energy loans that private investors won’t touch have strong tendencies to go into bankruptcy – but no, we are not going to cease the federal government’s role as a “green” investment bank.
But here’s the twist (there always is one when it comes to government investing): On SolarReserve’s website there is a list of its investment partners, and one of them is PCG Clean Energy & Technology Fund (East) LLC. It turns out Ronald Pelosi – yes, Nancy’s brother-in-law - is conveniently the number two man at the company. Interesting, huh?
This is what we call crony capitalism in its finest form – and yes, the crony capitalist, taxpayer scamming, scumbags are a bunch of flaming Democrats. Now that, Mr. President, is what we call screwing the middle-class.