The Campaign Spot

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.

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