GreenTech fits pattern of investment that has made big profits for Terry McAuliffe

The Washington Post reports:

The pitches to potential investors in a new electric-car company have been unabashed about its promise: It will enjoy “billions” in government subsidies and tax credits, will rise to a dominant position in the U.S. electric-car industry and, perhaps most critically, has a politically connected founder with the savvy to make it all happen.

That founder, Virginia gubernatorial candidate Terry McAuliffe (D), is listed in a recent confidential memorandum to prospective investors as GreenTech Automotive’s “chairman emeritus.” The 70-page document includes photographs and references to McAuliffe’s close ties to former president Bill Clinton. It recounts his political pedigree in detail, from serving as finance director for Jimmy Carter’s 1980 presidential reelection campaign to breaking fundraising records for the Democratic Party and chairing Hillary Rodham Clinton’s 2008 presidential campaign.

The evils of rent-seeking gone wild.