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Top Dem Steered $150 Million in Gov Loans to Spanish Company

Posted By Daniel Greenfield On January 6, 2013 @ 5:34 pm In The Point | 7 Comments


“They actually think we’re going to give back money… to the people. Suckers.”

Bill Richardson, former New Mexico Governor and presidential candidate, sure is busy these days. He sits on both the board of the US Export-Import Bank and a Spanish Green energy conglomerate known as Abengoa. And if you can smell a conflict of interest, [2]then your nose isn’t stuffed up with the blue media Obama flu.

Now that 150 million is a small piece of the big chunk of change that came to Abengoa from Obama Inc. The Department of Energy provided Abengoa with 1.45 billion dollars [3] in a widely debated deal and the total may have come to 2.8 billion dollars [4]making it the second largest recipient of DOE loan guarantees.

Bill Richardson is a pal of Al Gore and if you wondered when the Green One’s name was going to come into this… wait no longer.

Gore’s Generation Investment Management had a stake in Abengoa and Gore had frequently talked up the company. When Gore made the buy, the stock jumped [5], not because Gore is a serious investor, but because everyone knows that a Gore buy means that Abengoa can benefit from his political connections, the way that Al Jazeera now has.

Abengoa is a big investor in American politic [4]s.

Before joining Abengoa, Seage was a partner with McKinsey & Company (another 2008 Obama donor)—where Jonathan Silver, the former executive director of the Energy Department’s loan guarantee program, started his career and Matt Rogers, a former senior adviser on the Recovery Act, was an executive. When Rogers left the DOE in September 2010, he returned to McKinsey & Company at their San Francisco office.  A handful of McKinsey & Company executives sit on Obama’s Jobs Council. Making the connections more provocative, we find that Silver held parties for Gore.

Abengoa’s lobbying efforts are headed up by Mark Rokala, a founding member of Cornerstone Government Affairs—which has received $870,000 from Abengoa in lobbying fees. Rokala came to Cornerstone from the PMA Group, which was shuttered in 2008 following a pay-to-play scandal—in which late Democratic Rep. John Murtha directed $137 million in government contracts to PMA clients, which in turn donated $2.37 million to Murtha and other Democratic congressmen who sat on the appropriations committee. PMA’s president, Paul Magliocchetto, is serving a 27-month federal sentence for illegal campaign contributions. Rokala has been a lobbyist for more than 20 years, the last seven in energy policy, and has served as legislative assistant for a Democrat senator.

Abengoa spent $540,000 on lobbying efforts for just 2011, with $160,000 going to Cornerstone Government Affairs.

And now we come to Bill [2] Richardson who sits on Abengoa’s International Board.

The U.S. Export-Import Bank recently steered hundreds of millions of dollars in federal loans to Spanish green energy conglomerate Abengoa, which happens to share an advisory board member with the bank.

The Ex-Im Bank approved a $78.6 million direct loan to Spain-based Abengoa in December. It also approved a $73.6 million direct loan to a wind farm in Uruguay, which is owned by Abengoa.

Former Democratic New Mexico Gov. Bill Richardson sits on both the Abengoa International Advisory Board and is currently listed on the Ex-Im bank’s website as a member of the advisory committee that helps guide bank policy.

Gotta pay your fair share so that that the Democratic Party machine can pay it forward to their friendly foreign corporations.

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URLs in this post:

[1] Image: http://frontpagemag.com/2013/dgreenfield/top-dem-steered-150-million-in-gov-loans-to-spanish-company/richarson-obama/

[2] if you can smell a conflict of interest, : http://freebeacon.com/ex-im-bank-funds-green-jobs-overseas/

[3] provided Abengoa with 1.45 billion dollars: http://www.weeklystandard.com/keyword/Abengoa-Solar

[4] come to 2.8 billion dollars : http://greencorruption.blogspot.com/2012/08/how-democrats-say-crony-corruption-in.html#.UOnrRB3AeIA

[5] made the buy, the stock jumped: http://news.mongabay.com/bioenergy/2007/11/al-gore-invests-in-biofuels.html

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