Friday, April 12, 2013

Terry McAuliffe's Green Money and Power Game. . .


Is Terry McAuliffe’s GreenTech just another Democratic sinecure?

Interesting: is Virginia gubernatorial candidate Terry McAuliffe playing fast and loose with the rules? Also, is the sky blue?

To kick-start GreenTech Automotive in Mississippi, the Virginia Democrat has sought funding through federal EB-5 immigration visas. In exchange for investments of $500,000, foreign nationals can gain U.S. citizenship for themselves and their families.

But the EB-5 system has been heavily criticized for its lack of transparency and lackadaisical enforcement. McAuliffe’s venture is seen as a particularly bad fit for the alien-investor program that’s supposed to create U.S. jobs.

“EB-5 is good for funding certain kinds of projects, but it’s not appropriate for this type of large-scale, long-term funding,” said Michael Gibson, managing partner of U.S. Advisors, a Florida-based research and investment firm knowledgeable about the program.

Some background here. . .

Finish Reading at Red State

-- Political Pistachio Conservative News and Commentary

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