How Nancy Pelosi Helped This Top Democrat Donor Nab Millions in Taxpayer Money

Fortune Brainstorm Green 2012

There are many people who exploit the taxpayer and the government for their ends who subscribe to the idea that what they are doing is in fact not immoral at all. They are merely “doing well while doing good.”

One hears it all the time in some circles. It is how Al Gore justifies his giant carbon footprint and his palace on the beach. You see even though he’s very very rich, even though at times he is taking money from the middle class through subsidies for his various political/business ventures, even though he burns more energy in a week than most Americans probably do in a year, it’s OK. Because Al Gore is one of the “good guys.” It’s OK for him because he’s committed to “saving the planet” unlike those mean old nasty Koch brothers who are out to kill everything.

So what if Al Gore sold his failing network to an oil conglomerate? So what? On the whole Gore is doing good. He’s helping the world.

It’s a mixture of self delusion, people kissing your rear end everyday, a media which enables this mentality, and probably a good dose of willful ignorance, which allows people like Al Gore, Warren Buffett, and George Soros to live with themselves.

One of the people who fall into the self deluded billionaire “do-gooder” camp is Tom Steyer, hedge fun extraordinaire and big time political donor. He helped get a confirmed crony capitalist Terry McAuliffe elected governor in my beloved Commonwealth of Virginia last year. But Steyer likes to give to politicians all over. One of his favorites is Nancy Pelosi.

(From The Daily Signal)

(Seyer’s) Mission Bay Development Group is responsible for building most of the infrastructure. FOCIL-MB buys, sells and leases parcels of land to developers. Seth Hamalian, who oversees FOCIL-MB, says between 2003 and 2008, more than 3,000 residential units and 1.7 million square feet of office and lab space were built.

Enter Pelosi, who has been on the receiving end of donations from Steyer and his family.

In October 2012, Pelosi unveiled an agreement that would provide $942 million in federal funds to establish a transportation link between Mission Bay and downtown San Francisco.  A press release described the arrangement:

Mayor Edwin M. Lee and several key officials today announced federal approval of an agreement dedicating $942.2 million in federal funds to the Central Subway Project. The agreement finalizes the financing for extending Muni Metro’s T Third Line through South of the Market, Union Square and Chinatown and is the latest in a series of rigorous federal, state and local approvals.

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