Crony Socialism: Obama Gives $737 Million to Solar Firm Linked to the Pelosi Clan

It’s as if Solyndra never happened. The Obama Administration is giving $737 million to a Tonopah Solar, a subsidiary of California-based SolarReserve. PCG is an investment partner with SolarReserve. Nancy Pelosi’s brother-in-law happens to be the number two man at PCG.

Obama admires solar panels during a trip to Florida. (Yahoor)

Team Obama is spending $737 million to create 45 permanent jobs.
The Hill reported, via Free Republic:

The Energy Department announced Wednesday that is has finalized a $737 million loan guarantee for a Nevada solar project.

The decision comes several weeks after a California-based solar manufacturer that received a $535 million loan guarantee from the Obama administration in 2009 filed for bankruptcy and laid off 1,100 workers, setting off a firestorm in Washington.

The $737 million loan guarantee will 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.

Crescent Dunes is the latest solar project to receive a loan guarantee from the Energy Department in recent weeks. The department announced a $1.2 billion loan guarantee to Abengoa Solar for a solar generation project in California and a $150 million loan guarantee to 1366 Technologies for a Massachusetts solar manufacturing project earlier this month.

The Energy Department says the project will result in 600 construction jobs and 45 permanent jobs.

It looks like Rep. Allen West was right.
Obama IS trying to destroy the economy.

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  • Calamity Jane

    Ya can’t make this stuff up!

  • Lycus

    It’s a total misallocation of funds and resources that should be invested in the REAL economy, not unproven keft-wing wet dreams. The fact that this is obvious corruption is nothing short of breathtaking! The gov’t penchant for picking winners and losers also disorts the market and causes investor uncertainty.

  • Sasja

    Department of Energy apparently has too much money to play with. Just one more bureaucratic parasite we need to eliminate. At the very least Congress should cut their funding by half, along with FEMA, Homeland Security, EPA, NEA…..

  • Ginger

    He does what he wants because he can! “I won” Remember that? Get that fraud out of our government and arrest him and his little morons! Enough is enough!!!!!!

    Do your jobs congress or soon you will not have one! YOU TRAITORS!

  • Rock

    Well maybe Piglosi and family will give 70% of that to the tax payers, or better yet put it in the S. S. fund they’ve been raiding all these years. Oh well I can dream. Frigging crooks each and every one.

  • theBuckWheat

    “The Energy Department says the project will result in 600 construction jobs and 45 permanent jobs.”

    So, once again, we have the Progressive Utopia Job Metric (PUJM): $737 million divided by 45 = $16.37 million per job.

    In 2010, the median US household income was $52,026. This project will create ONE permanent job at the cost of over 300 jobs in the private economy. At this rate, we will be headed to ZERO private sector jobs faster than you can say “high speed rail”.

  • dfbaskwill

    He’s like a bad magician who can’t even distract us enough with the other hand. There are marked cards falling out of his sleeves and the rabbit keeps peeking out of his hat.

  • http://gatewaypundit Cutlers bad knee

    Would Someone in the GOP or FBI get of their dead ass and investigate these f@#%ing thief’s already…..Jeez what the hell is it going to take……

  • Multitude

    “Trying to destroy the economy?” Hilarious. The damn thing’s been rotten out for decades, its death inevitable.

    Obama’s just fulfilling the prophesy of becoming the Heineken Guy of the American Collapse, hauling off free beers as he wades through the waters of our destruction and tossing all his friends a bottle of two as it all implodes.

  • john b

    “Nancy Pelosi’s brother-in-law happens to be the number two man at PCG.”

    Wow. Just wow. This is getting as bad as the Russian oligarchy. Worse, if you consider that in Russia, there are no pretensions to this type of payoff.


    jail is the only answer for this POS mooslum

  • Stuart

    Golly, can someone tell the administration about my free energy device that I just invented?
    I call it the perpetual motion activation apparatus. It means an eternal and free source of power for everyone. All I need is a government grant of, say, about five hundred million dollars to ramp up production. It’s certain to result in the creation of at least fifty jobs. My job for one, and the forty nine federal agents to chase me when I sneak off to Brazil with the half billion.
    I promise to kick back at least a hundred mill in Obama campaign contributions.

  • Ginger

    MC….Look what is on my home page!

    Practice makes perfect! My aim is getting better. :) I is msnbc but just wanted to share this!

  • Rock

    #8 September 28, 2011 at 12:31 pm
    Cutlers bad knee
    FBI get of their dead ass and investigate these f@#%ing thief’s already

    The FBI I believe, is the investigation arm of the Justice Department, The Justice Department now belongs to WTF and friends. Have a better chance having a whore paying the customer than Holder being honest.

  • Redwine

    Aside from the great Allen West, where are our so-called conservatives on this? Why aren’t they shouting from the hilltops about this – loudly and often? We want to hear their voices.

  • bankroller

    What is this, Russia?

  • ChristOKC

    #15, you won’t hear too many voices from the GoP because they do the exact same thing for their pet corporations. We need to throw ALL of them out if any of the criminal cronyism is to stop once and for all.

  • donh

    Pharoh Obama worshipping the sun god RA.

  • Fuzzy

    How is this even possible? They need to STOP SPENDING. What part of that don’t they freaking get?

  • Ginger

    CIA/FBI I have a question! Do you have females in your family? Do you want them raped, gang raped, scared, beaten, buried in the sand up to their neck and stones thrown at them until they die, having to wear those awful burkas to hide all the bruses that their coward husbands do to them? Do you love that kenyan fraud more then you do your family members, friends, neighbors and COUNTRY? Do not forget they love screwing goats first then they love to marry little girls as young as the day of their birth all because their koran tells them they can.

    How about your sons? Do you want their colons ripped apart?

    Well don’t you think it is time for you to do your duty and take this evil out of our white house and other forms of our government! You know where they are!

    If you do not choose to do your job protecting our country then may God have mercy on your soul!