Federal Government Loans $500 Million To First Solar Who Settled A Stock Price Inflation Lawsuit In 2020

President Joe Biden continues giving donors special privileges as the federal government offers a massive donor a $500 million loan for a solar company. The same president didn’t even acknowledge Elon Musk when SpaceX’s all civilian flight launched. Musk trolled Biden by saying, “He’s still sleeping.”

The buy American claim that Biden made is also going out the window because the manufacturing facility for First Solar is in India. Outsourcing after outsourcing.

The owner of the company is Lukas Walton, the heir of Walmart. He donated over $100,000 to the Democratic National Committee.

It places a lot of questions about political involvement and political privilege over top of Biden’s head, and this isn’t the first time Biden has pulled a move like this.

Biden visited St. Louis, Minnesota, to visit the construction site of Clayco, whose CEO Bob Clark has donated $1.6 million to Democrat campaigns, including at least $166,000 to Biden’s campaign.

So, it’s not surprising that the federal government would give the loan to Biden’s donor, but shouldn’t that be an ethical issue? Seems the Democrats don’t care about ethics in politics.

Dev Jagadesan, U.S. International Development Finance Corporation’s Acting Chief Executive Officer, said, “This transaction marks another significant milestone in the United States’ effort to drive alternative supply chains and articulate a vision for climate finance that drives our development mission.”

Is it really about supply chains, though?

The supply chain has nothing to do with the current shortage of goods in the United States. The ports play a significant role in the supply chain problem. If you were to map the ships’ path from India to the U.S., you would see that if ports are blocked, so are the supplies coming from India. If the vessel goes to Florida, it will be much quicker, but if they have to go to the west coast, that’s a much greater distance to travel.

It is, of course, going to come with problems of its own considering the political involvement.

“The United States International Development Finance Corporation, formerly known as OPIC, has a history of deals gone bad when mixing taxpayers’ dollars with politically connected entities like First Solar. This agency has a history of favoring entities supported by large political contributors, such as First Solar, by granting them less scrutiny while prioritizing politically connected projects over entities and individuals who are not politically active,” said Tom Anderson, director of the Government Integrity Project at the National Legal and Policy Center.

Center for International Environmental Law reported that OPIC failed to ensure indigenous people in Bolivia were not compensated for the impacts of silver mining by an OPIC-supported company, San Bartolome, in 2009.

In 2020, First Solar also paid $350 million in a settlement for a lawsuit in the United Kingdom for two pension funds because of stock price inflation allegations.

Let’s go, Brandon!