Nancy Pelosi's brother-in-law is given $737m of taxpayers' money to build giant solar power plant in middle of the desert

[JohnC]

And you wonder where your tax dollars are going? Well, the left wing loves funneling it to their crony capitalist friends and family members!

Nancy Pelosi's brother-in-law is given $737m of taxpayers' money to build giant solar power plant in middle of the desert

http://www.dailymail.co.uk/news/article-2043282/Nancy-Pelosis-brother-law-given-loan-bigger-Solyndra-solar-plant.html#axzz2KeAjk6Nv

[TrickyNicky]

The real rub for me at least is not the people involved, nor is it the concept. What chaps my ass is that even IF the project is a huge success and they're able to produce 1.21 jigawatts every second of the day, the price of electricity will not fall one dime for the users.

This is just another way for people in the position to abuse their power to hand down some "aid" to their family/friends.

Unfortunately I'm not at all surprised, given that the spenders in Ca have absolutely zero concept of what's important or the fact that they are piss poor broke.

[JohnC]

Let's see, that's nearly $1 Billion USD. What does that look like?



Couldn't rob a bank and get away with that much and all you got to do to get free money now is be politically connected tot he left-wing and hide it under "Green Energy."

Edited February 12, 2013 by JohnC

[Red Haired Girl]

What do you expect from a woman who, at her age, still wears frosted lipstick? Totally out of touch.

[JohnC]

The tax payers are being scammed by these cronies and their green energy friends.

Crap has to stop sooner or later!

[RED333]

The tax payers are being scammed by these cronies and their green energy friends.

Crap has to stop sooner rather than later!

Fixed that for ya.

[Lumber_Jack]

What do you expect from a woman who, at her age, still wears frosted lipstick? Totally out of touch.

Haha, that's funny

[ShamGlock]

I'm going to do some rough guesses based off the numbers given. 740 mil for the project to power 43,000 homes. Comes out to a rough cost of 17,210 per home. If I assume an average electric bill of 1,400 per year (which may be low out west, I have no idea) you have each home paying back only the initial cost of the project in 12.29 years. Which, as I understand solar technology, is approaching the time that you need to start replacing and upgrading the panels. These numbers don't even factor in the costs of staffing and running the operation. And I won't even begin to guess on the true cost of the plan, I think we have all seen the .gov's 740 mil turn into well over a billion dollar project. 

 

I understand the need for someone to invest in this technology to begin to make it more viable, but a project of this size seems to be a full blown leap into the deep end. Especially when the advances in Natural Gas are so much easier for us to switch to right now. I would like to see more real research into fracking, the true effects on the environment, and see how what processes and technologies we could use to extract the gas safely. Natural Gas could very well be the next energy revolution in this country. 

 

Solar could very well be a piece of the energy puzzle one day, I just don't think it's quite there yet. 

[jgradyc]

This isn't the only Pelosi insider deal. There have been numerous other times she has financially benefited from her position. I don't have a link, but I remember that some of them involved her husband's business deals. I'm sure you could find them with an online search.

 

EDITED: I found it. Do a search for Pelosi husband insider trading. The big one was in 2008 when she sat on a committee dealing with credit cards. Pelosi bought 5,000 shares of Visa at $44 and the stock went to $65 very quickly. There are allegations that her husband bought between $1 million and $5 million shares of Visa. She has been associated with 8 IPOs where she or her husband could have benefited from insider knowledge. Note: It is NOT illegal for Congresspersons to do insider trading.

 

Edited again: Wow!  Pelosi rails against credit cards while buying 1-5 million dollars worth of Visa. Then, in spite of popular bipartisan support, she blocks a law that would impose restrictions on credit card companies!  That's beyond insider trading.

http://www.sodahead.com/united-states/nancy-pelosi-blocked-credit-card-reform-while-investing-millions-in-exclusive-visa-stock-offering/question-2424639/?link=ibaf&q=&esrc=s

Edited February 12, 2013 by jgradyc

[Just2Honor]

One deal involving her husband was she placed an exemption in the last minimum wage bill that reduced the minimum to be paid in American Samoa.   Del Monte is the largest employer by far in that territory.  Pelosi's husband is a major stockholder in Del Monte.

[LagerHead]

As much as I despise this deal I think you folks that are implying that this is strictly a left-wing phenomenon are grossly misguided. There are every bit as many of our beloved Republican congressmen and senators on the take as there are Democrats. And it will continue to be this way until we take the money out of politics. Of course we depend on the politicians to police themselves so what do you think the odds are of that happening?

[Guest 6.8 AR]

What do you expect from a woman who, at her age, still wears frosted lipstick? Totally out of touch.

She was a bit out of step with fashion thirty years ago. I imagine the facelifts can't be fixed any more, either.

[Guest 6.8 AR]

As much as I despise this deal I think you folks that are implying that this is strictly a left-wing phenomenon are grossly misguided. There are every bit as many of our beloved Republican congressmen and senators on the take as there are Democrats. And it will continue to be this way until we take the money out of politics. Of course we depend on the politicians to police themselves so what do you think the odds are of that happening?

As much? I don't know about that, but there is a lot of it going on by the right, also. Nothing that I know of compares to the green

projects during the first four years of this guy's term. You will have to dig a while to top this fiasco. I know one of Bush's guys did

get a bundle with those scanning machines at the TSA, but don't remember the amount. It still won't come close to the blatant

things going on right now.

 

Besides, Pelosi and family have been getting things like labor exemptions and tax preferences for their government paid for

businesses for years. They are a bunch of outright criminals.

Edited February 12, 2013 by 6.8 AR

[daddyo]

These people nauseate me.

[gjohnsoniv]

Nepotism just a bit?