MOScout's political speculation yesterday caught my eye (subscription required):
The War Time Consigliore?...the Post-Dispatch [reported] that Tom Carnahan was stepping down of his Wind Capital Group (Read it Here) could only be read one way by St. Louis Democrats: the brother of Congressman Russ Carnahan is clearing his plate for the impending clash with Congressman Lacy Clay.While the national political press and even the candidates themselves have been chattering about Russ Carnahan running in Missouri's 2nd Congressional District, MOScout has maintained for over a year that Carnahan would run in Missouri's 1st against incumbent Lacy Clay. That could setup something of a race war in the Democrat primary there. To mitigate the racial strife in that contest, I suspect that Aldermanic President and Carnahan crony Lewis Reed will support Russ while Mayor Slay sides with Lacy. We will see.
Let's get back to Tom Carnahan's departure from Wind Capital. I think Tom sees the writing on the wall that a nation drowning in debt can't afford to incur more on behalf of his economically unviable green energy boondoggle. Therefore, the marginal utility of Tom's political connections for raising capital is diminished in the eyes of his cronies and it's time for him to leave.
The real question is: does Tom Carnahan really believe in green energy? If so, he'll hold on to his minority stake as he anticipates greater future dividends than cynics like me forecast. If not, then you can bet that he'll flip that equity position as he launders that taxpayer-financed capital into cold hard cash that he can then donate to the politicians that will finance his next crony capitalist business endeavor.
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