But hey, what are friends for?
By J Dwight
By now everyone knows that former governor Angus King and his business partner Robert Gardiner used their political connections and friends (Congresswoman Chellie Pingree) to help get an unnecessary Federal Loan Guarantee for the Record Hill Wind Power Project, as reported by The Maine Wire.
That loan guarantee immediately added some $4 million to $5 million to the bottom line for King and Gardiner by enabling them to sell the debt at below-market interest rates. This kind of advantage comes at the expense of the ratepayer and taxpayer. The means by which that federal loan guarantee was obtained is now under investigation by the Committee for Oversight and Government Reform, as also reported by The Maine Wire.
Read the full piece here.