Posted on 07/01/2009 4:22:29 AM PDT by tobyhill
Sen. Daniel K. Inouye's staff contacted federal regulators last fall to ask about the bailout application of an ailing Hawaii bank that he had helped to establish and where he has invested the bulk of his personal wealth.
The bank, Central Pacific Financial, was an unlikely candidate for a program designed by the Treasury Department to bolster healthy banks. The firm's losses were depleting its capital reserves. Its primary regulator, the Federal Deposit Insurance Corp., already had decided that it didn't meet the criteria for receiving a favorable recommendation and had forwarded the application to a council that reviewed marginal cases, according to agency documents.
Two weeks after the inquiry from Inouye's office, Central Pacific announced that the Treasury would inject $135 million.
(Excerpt) Read more at msnbc.msn.com ...
Nothing to see here folks, move on.
Ahhh...the smell of corruption in the morning.
Bracing.
[spit]
...should this surprise anyone.
Do my eyes deceive me, or is that really what this program does?
Why do we need a program to bolster the healthy ones?
As an elected Democrat he is exonerated from any and all ethical and legal violations.
-- Rush Limbaugh (June 30, 2009)
We’ve reached a time when the pols don’t even seem to care if they’re caught stealing and cheating. There’s no price to pay.
The United States Senate is a vast pit of corruption, Republican and Democrat.
And soon Al Franken will join their ranks.
Despicable and pathetic.
Throw this thief in the cell with Madoff for 150 years or so.
Isn’t this the same guy that reportedly would run his hands up underneath his female barbers dress?
I could swear I heard that years ago...
This should knock Michael Jackson off the news for awhile.../S
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