The MSM told us we were insane when we were concerned that Ron Pelosi might have benefited from a $737 Million guaranteed loan to a solar energy company. It’s just like Solyndra in the sense that it is about to fail and inspires one to look for slush funds. Let’s follow the money.

Nancy Pelosi’s brother in law is Ronald Pelosi. (He also happens to be former uncle-by-marriage of Governor of California Gavin Newsom.)

Ronald Pelosi, got a job at Pacific Corporate Group in 2011 just as a $737M government backed loan came through for SolarReserve, a company that Pacific Corporate Group had been invested in for three years. Their investment was never going anywhere until the taxpayer backing came through. When it did, Ronald Pelosi got a job at Pacific Corporate Group who stood to benefit from the loan as second in command of a prestigious aspect of their company. (Second in command. Of a fund. It’s not a submarine. It’s a gravy gig.)

Naturally, the MSM made up a straw man argument and soundly refuted it.

Ronald Pelosi joined Pacific Corporate Group in April, roughly three years after it had invested in SolarReserve, a company official confirmed Thursday. The official said Ronald Pelosi doesn't stand to profit or lose from the firm's stake in SolarReserve because he doesn't have an interest in the fund that made that investment.

Riiiiiight. It would be so hard for the firm to elect to give him a bonus on top of his shiny new job. Opposition Sauce.

They got the money even though Solyndra was in process of failing at the time. Just like Solyndra before them, they are getting ready for bankruptcy now.

SolarReserve got $737 million in 2011 even as Barry’s Solyndra Slush Fund was coming under scrutiny.

Nancy Pelosi's brother-in-law is given $737m of taxpayers' money to build giant solar power plant in middle of the desert 29 September 2011

Nancy Pelosi is facing accusations of cronyism after a solar energy project, which her brother-in-law has a stake in, landed a $737 million loan guarantee from the Department of Energy, despite the growing Solyndra scandal.

...

The SolarReserve project is backed by an energy investment fund where the Minority Leader's brother-in-law Ronald Pelosi is second in command.

So, a couple of questions come to mind. How is the project and company doing now? Did we get our money’s worth?

They did actually build a plant that came online in 2015 but it never worked right. Now they are talking about bankruptcy and complaining that Nevada Energy Dept has too much control and won’t act in the best interests of the company (and is presumably privileging the needs of the citizens — crazy). SolarReserve recently walked away from two major projects: one in the US on government land and one in Australia.

NV Energy sends termination notice to massive Tonopah solar project, developer accuses Energy Department of taking over October 6th, 2019

The lawsuit, filed in a Delaware court and retrieved by Bloomberg, paints a stark picture of a 110-megawatt solar facility that has faced several recent management and operational issues. 

So Ronald Pelosi certainly had a financially-related career. That’s an understatement. He was deeply involved in regulating the financial sector.

Pelosi was a mediator or arbitrator for the American Stock Exchange, National Association of Securities Dealers, National Futures Association, New York Stock Exchange and the Financial Industry Regulatory Authority. He was a panel member of the American Arbitration Association and the Pacific Coast Stock Exchange.

Did Ron Pelosi ultimately benefit from the $737M? I say we have an opportunity to find out more now that the financials of SolarReserve might be scrutinized by a bankruptcy judge.

Maybe SolarReserve provided a little Pelosi Reserve back in the day.