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Democratic National Committee Moves Its Money to Amalgamated Bank (America's Labor Bank)
Sacbee ^ | 8/10/12

Posted on 08/11/2012 6:11:42 PM PDT by Libloather

Democratic National Committee Moves Its Money to Amalgamated Bank
By Amalgamated Bank
Published: Friday, Aug. 10, 2012 - 2:35 pm

WASHINGTON, Aug. 10, 2012 -- /PRNewswire/ -- The Democratic National Committee (DNC) announced today that it has recently moved its primary banking relationship to Amalgamated Bank, America's Labor Bank. The DNC will use Amalgamated Bank's cash management services to handle its day-to-day banking needs.

**SNIP**

In announcing the new alliance with Amalgamated, DNC Chair Debbie Wasserman Schultz said, "We are proud to join forces with Amalgamated Bank, an organization with a 90-year legacy of reflecting the values of our nation's middle class. Amalgamated and the Democratic Party share a common heritage of advocating for positive changes in our economy and society to help working men and women achieve their fair share of the American dream. Furthermore, at the DNC, we have a fiduciary responsibility to those who invest in our party; it is critical that we honor their efforts to strengthen our infrastructure and build our organization by partnering with an institution that shares our commitment to standing with America's working families and small businesses, who we believe are the backbone of our country."

(Excerpt) Read more at sacbee.com ...


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: bank; dnc; labor; money
Charlotte, thanks but no thanks.
1 posted on 08/11/2012 6:11:52 PM PDT by Libloather
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To: Libloather

This is great. The DNC just handed all of their cash over to union thugs. And they did it to placate them over the pick of NC for the convention. Those crooks running this sham of a bank are going to clean them out. That money is gone......


2 posted on 08/11/2012 6:14:39 PM PDT by Lurker (Violence is rarely the answer. But when it is it is the only answer.)
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To: Libloather

So what was last weeks bank? G S


3 posted on 08/11/2012 6:14:56 PM PDT by reefdiver (Shoeless John Roberts, An American Tragedy.)
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To: Libloather

I smell a rat.

I’m betting the bank will extend “a line of credit” to the DNC, that won’t be burdened with typical terms.


4 posted on 08/11/2012 6:15:43 PM PDT by G Larry (Progressives are Regressive because their objectives devolve to the lowest common denominator.)
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To: Libloather

the easier to wash it my dear


5 posted on 08/11/2012 6:18:22 PM PDT by yldstrk (My heroes have always been cowboys)
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To: Libloather

Thats so Soros and union thugs can funnel money into it.


6 posted on 08/11/2012 6:21:02 PM PDT by dalebert
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To: Libloather

Hmmmm?? Must be easier to deposit all those “false” tax return checks there.


7 posted on 08/11/2012 6:26:06 PM PDT by Ms Mable
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To: Libloather

Wait when the Money Comes Pouring in from China Russia and India..Money Laundering UNION style.


8 posted on 08/11/2012 6:29:35 PM PDT by philly-d-kidder (AB-Sheen"The truth is the truth if nobody believes it,a lie is still a lie, everybody believes it")
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To: Libloather

“Amalgamated and the Democratic Party share a common heritage ...”
http://www.bankrate.com/rates/safe-sound/memorandums-memos.aspx?fedid=661308
“...Bankrate believes that, as of March 31, 2012, this bank [Amalgamated Bank] exhibited a significantly below average condition, characterized by substantially lower than normal overall, sustainable profitability, questionable asset quality, well below standard capitalization and lower than normal liquidity.”

Indeed!


9 posted on 08/11/2012 6:30:50 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: Libloather

http://www.cnbc.com/id/44935914/Occupy_Wall_Street_s_Bank_Under_FDIC_Scrutiny

‘Occupy Wall Street’s Bank [Amalgamated Bank] Under FDIC Scrutiny’


10 posted on 08/11/2012 6:37:46 PM PDT by mrsmith (Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
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To: reefdiver
DNC dials back involvement with Bank of America
11 posted on 08/11/2012 6:41:09 PM PDT by Libloather (The epitome of civility.)
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To: Libloather
My professional dealings with Amalgamated Bank in the past led me to the conclusion that their back office operations are archaic and staffed with incompetents.

Of course, if your primary mission is not custodial care of your clients' funds but funneling cash to a certain political party, then maybe you want antique systems run by nitwits. :)

12 posted on 08/12/2012 5:32:33 PM PDT by Mr. Jeeves (CTRL-GALT-DELETE)
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