Does the Term ‘Private Capital’ Cover Government Loans?
The Republican Party of Virginia is having some fun this afternoon.
Here’s Terry McAuliffe in September 2011, discussing Solyndra on a Virginia-based public television program:
McAuliffe says, “I’m proud to always say of all my businesses and the one I’m doing now with the auto, I do it all with private capital. I use my own money and investor money, I just don’t want the government in my business.”
Strangely enough, that’s the exact month that McAuliffe’s company, GreenTech Automotive, accepted a $3 million loan from the Mississippi Development Authority, acting on behalf of the state of Mississippi. The contract can be found here. Separately, the MDA loaned another $2 million to Tunica County to purchase the site for the factory.