Thursday, September 29, 2011

Bernie Madoff had it all wrong

Old Bernie is in jail for defrauding people who voluntarily gave him money in the hopes of lofty returns he couldn't keep up.

What an idiot!

First, he probably had enough connections to get himself appointed to run the Social Security administration when they force people to invest money into a system that only holds US treasuries for it's investments!

Or second, you create a faux calamity called Global Warming, come up with a bogus solution to the problem, grease the palms of the high and mighty in federal office and bingo you cash in big, big, big, time......

Despite the growing Solyndra scandal, yesterday the Department of Energy approved $1 billion in new loans to green energy companies -- including a $737 million loan guarantee to a company known as SolarReserve:

SolarReserve 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.

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. SolarReserve is based in Santa Monica, California.

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 "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."

But wait... there's more! One of SolarReserve's other investment partners is Argonaut Private Equity:

Read the whole thing..........

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