Posted on 03/30/2008 7:15:41 AM PDT by george76
Hillary Rodham Clinton's campaign manager, Maggie Williams, earned about $200,000 on the board of a Long Island subprime lender that charged prepayment penalties -- a practice that Clinton, a critic of the subprime industry, now seeks to eliminate.
Williams, who took over the reins of Clinton's campaign in early February, served as a director on the board of the Woodbury-based Delta Financial Corp. from April 2000 until the firm declared bankruptcy in December, according to Securities and Exchange Commission records.
She was recruited by former New York City Deputy Mayor Bill Lynch, a Delta consultant. Her assignments were to create a new code of "best practices," and to improve the company's crisis management operation in the wake of state and federal predatory lending probes that resulted in a $12 million payout to borrowers.
Her hiring coincided with stepped-up Delta outreach efforts in minority communities, where the company made a large number of its loans, an iniTiative that included parties for homeless children and mortgage seminars in Brooklyn and Queens.
Williams, 53, isn't the only Clinton insider who made money from an industry the candidate has demonized. A month ago, The Wall Street Journal reported that Clinton ally and former HUD Secretary Henry Cisneros grossed more than $5 million in stock sales and board compensation from Countrywide Financial, one of the nation's largest subprime lenders.
(Excerpt) Read more at newsday.com ...
She was certainly qualified for that position, considering her experience working for the queen of pork belly futures, HRC.
A once reliable mainstream-fishwrap-DNC shill turning on Missus Clinton?
Unbelievable.
Hillary will continue to lose more friends as she drags this into August.
Hillary’s pigeons heading for the roost!
Heil Clinton
This Newsday author is not a fan of the beast:
Flashback:
http://www.newsday.com/news/nationworld/ny-usark245589997feb24,0,2670956.story
In 1975, a 27-year-old Hillary Rodham, acting as a court-appointed attorney, attacked the credibility of a 12-year-old girl in mounting an aggressive defense for an indigent client accused of rape in Arkansas - using her child development background to help the defendant.
Yep, brown outfit (SA) and all.
So, she wants to ban prepayment penalties (which will have the effect of raising interest rates) and put Greenspan and Rubin, two of the people most responsible for the subprime mess, in charge of “reforming” the mortgage market. What a stunning lack of understanding of the markets.
And thanks for pointing it out.
Only on FR will you find such a high standard of even-handedness and credibility.
I love this place.
It’s time for Hillary’s redeployment back to the US Senate. Her campaign is a quagmire!
Clinton campaign head made $200,000 with subprime lender ...
does dog fac chelsea work for a ny hedge fund???....bet dog face made some $$$$$ on sub prime loans as well....but just like with the monica question.....dog face won’t answer that question either!!!!!
Was Williams yet another example of the truth of the statement “Our Diversity is Our Strength?”
LOL
One wonders how much Chelsea’s off shore Hedge fund made during the meltdown of subprime. They actually had a profit, maybe a heads up from liberal deep throats in government and banking.
Good point, Dave. One of the unexplained components of Spitzer's Reign of Terror as a DA was WHO HE DID NOT indict.......AND who Spitzer notified BEFORE indicting that would have had a material effect on stock prices, and could have made insiders a lot of money.
BACKSTORY Spitzer booked the hooker into the Mayflower room under the name of George Fox---and told hookers his name was George Fox. NOTE WELL George Fox happens to be one of Spitzer's big buck donors who operates hedge fund---Titan Advisors LLC, Rye Brook, NY with an office in Kentucky run by Fox's brother.
Another Spitzer donor is James Chanos, hedge fund manager Kynikos Associates, New York, New York
Now keep in mind, the tax-exempt Spitzer Family Foundation run by Spitzer's father, mother, and brother supposedly "invests" in hedge funds.
L/E NEEDS TO ACT ON THE FOLLOWING:
(A) Were Spizter's family, or his hedge fund donors, listed as sole owners, 50% owners, vice presidents and/or treasurers of companies with offshore addresses? Were companies listed offshore....say, in Tortola, the British Virgin Islands?
(B) We need to see all the SEC filings (and amended filings) of companies doing business with the state during Spizter's tenure to determine whether lucrative state bond issues, and pension fund investments were fraudulently booked by crooked accounting methods, then laundered to hide placement-fees.
(C) L/E authorities need to determine whether offshore firms----with Spitzer's sub rosa help---grabbed a piece of the NY state billion dollar pension fund investments and billion dollar state bonding/revenue billions. These funds may have been improperly directed, in order to enrich insiders.
(D) The IRS and SEC should investigate the extent to which Spitzer may have used tax-exempt municipal bonding and pension investments in schemes to circumvent the IRS, SEC, and US banking laws.
(E) L/E authorities need to determine whether licensed financial hedge fund firms looking for billion dollar bond sales and pension investments were improperly directed, and whether Spitzer did anything improper to enrich hand-picked insiders.
Minorities hit hard by rising costs of subprime loans
How to screw your own constituencies.
'Rat voters need their heads examined.
Buncha phonies-—it’s all about them getting power and privilege.
They establish their bona fides bleating about their so-called tolerance, compassion and diversity agenda-—once they get power, they loot and pillage the very people they purport to help.
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