Thursday, September 29, 2011

Crony Capitalism – It’s Alive-It’s Alive

With the Solyndra still freshly in our rear view mirror, the Department of Energy has kept the American Dream alive by awarding $1 BILLION DOLLARS to what else, GREEN ENERGY COMPANIES.  Let me repeat this just in case you did not understand.

The Department of Energy gave $1 Billion of our tax dollars to Green Energy Companies.  Now here comes the biggest coincidence. including a $737 million loan guarantee to a company known as SolarReserve: The La Jolla, California-based gatekeeper has embraced yet another leadership structure following its purge by CalPERS. The latest line-up includes FINRA mediation expert and San  Francisco political  insider Ron Pelosi.
 It’s an unusual biography for a person listed second in the “Leadership” section of a private equity advisory firm’s website: “[A]ccomplished Financial Industry Regulatory Authority (FINRA) mediator. . .  has served in a number of positions as a public official.”
But perhaps the unusual circumstances of Pacific Corporate Group call for the unusual skills of Ronald Pelosi, a San Francisco political insider and financial in Minority Leader of the United States House of Representatives.dustry polymath who is the brother-in-law of Nancy Pelosi, La Jolla offices of PCG:

La Jolla, California-based PCG is a veteran of the private equity gatekeeping industry and has been led since 1979 by Christopher Bower, a former public accountant who successfully gave the institutional investment market what it wanted – more and more private equity advice. PCG’s marquee client was the California Public Employees’ Retirement System, until recently. Late last year the nation’s largest pension decided to fire PCG as part of a house-cleaning exercise. The gatekeeper had been too close to disgraced placement agent Al Villalobos for CalPERS’ liking.

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 guess who? “Ronald Pelosi,”  Yes Nancy’s brother in law.  I really guess we are to believe that this loan was just coincidental right. Maybe so, I have no way of really knowing, but it “shore” don’t smell good from where I am sitting.

Well guess what,  there is one more bit of information that might be of so interest to someone.   solar Reserve’s other investment partners is Argonaut Private Equity:  Steve Mitchell and Argonaut Private Equity may have an opportunity to recover some of their money in the Solyndra debacle  now that the Department of Energy has just handed out a $737 million dollar loan, which is guarantee to a company backed by Argonaut who also adds Steve Mitchell as a “board participant.” Now ain’t that just sweet as honey.  What a way to do do business. It is just amazing to me how corrupt people can get,  excuse me, allegedly corrupt people.

With that said, lets set our timer, and see how long it takes this company to go belly up and we lose and we lose another wad of cash!  I wish it was that easy for the every day person to secure a loan guaranteed by the Department of Energy.  I have a pasture full of cattle that with just a small investment in feed and hay, generates some nice cow patties.

It is rather labor intensive to shovel up cow turds, that once dried, generate clean burning heat… You may have heard of my company,”HEAT A  TURD” (LLC) and stay warm all winter long, all natural. One cow pie will warm a 5×5 deer blind for 5 hours, GUARANTEED, or your money back. However, the Department of Energy will not guarantee my loan application.  Oh Well.

Here is another bit of information I find quite interesting;  The Mitchell connection to Solar Reserve brings George Kaiser into the spotlight with respect to this latest loan guarantee. Kaiser owns Argonaut and thus invested in both Solyndra and Solar Reserve (more heavily in the former than the latter). He also bundled over $50,000 into President Obama’s campaign. SOURCE:    Just read’em and weep.   What can you do about it. One thing that really comes to is vote everyone of those corrupt bastards out of office at the very first opportunity opportunity.

Well I have said enough,  I know that the C&C  (Crap and Corruption) will never stop, but neither will I.  We will always have people like Nancy Pelosi, Harry Reid and the rest of the gang.  It is up to us to vote them out of office.
Until next time my friends…..stay safe out there, and don’t look back….Someone might be gaining on you. (Satchel Paige).

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