Nancy Pelosi steered more than a billion dollars toward a project that benefited the hedge fund of environmentalist billionaire Tom Steyer.
Steyer’s hedge fund, Farallon Capital Management, purchased 2 million square feet of commercial real estate in San Franciso’s Mission Bay neighborhood back in 2004 in a $343 million deal.
Pelosi has steered more than a billion dollars to a light rail project that greatly benefited the neighborhood–and in turn benefited Mr. Steyer.
As the San Francisco Business Times noted last year: “From a decrepit and seemingly abandoned old rail yard 15 years ago, Mission Bay has sprouted into San Francisco’s fastest-growing neighborhood.”
Billionaire Steyer has used his fortune to greatly help Democrats, pledging to spend $50 million of his money in 2014 and raise $50 million as well.
How has Farallon Capital Management been spending its lobbying dollars? Since October 2011, Farallon has lobbied on nothing but Mission Bay. It has paid $300,000 to lobby Congress and the Department of Transportation on Mission Bay.
Has Nancy Pelosi committed a grave crime by pushing for so much money to be spent on Mission Bay light rail (and by doing so helping her ultra rich political ally?)
Photo credit: YWCA USA (Flickr)
This post originally appeared on Western Journalism – Informing And Equipping Americans Who Love Freedom