Posted on 09/21/2012 12:47:08 PM PDT by SeekAndFind
The Democratic National Committee (DNC) owes at least $8 million to a bank owned by one of the largest unions in the country, according to the committee’s most recent financial report.
The DNC initiated an $8 million loan with the Amalgamated Bank of New York on Aug. 10, the report shows, accounting for the majority of the committee’s overall debt of $11 million.
Amalgamated Bank, often described as “America’s Labor Bank,” is a national entity, the majority of which is owned by the Service Employees International Union (SEIU), a politically active union with deep ties to the Democratic Party. The SEIU is also involved with the Democracy Alliance, a shadowy group of wealthy left-wing donors founded by billionaire investor George Soros.
The bank announced in an August press release that the DNC had “moved its primary banking relationship” to Amalgamated Bank, which would handle the committee’s “day-to-day banking needs.”
The DNC had previously done most of its banking with Bank of America, which helped finance the Democratic convention in Charlotte.
DNC chairwoman Debbie Wasserman Schultz hailed the transition to Amalgamated Bank, and noted the longstanding political and financial ties between the two organizations.
The committee, she said, had 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,” she said in a press release.
The SEIU is one of the most active political interest groups in the country, and a top financial backer of the Democratic Party. The union has given at least $200 million in direct contributions to candidates and committees since 1990 and has spent at least $14 million on lobbying since 1998,
(Excerpt) Read more at freebeacon.com ...
I hope they both become as bankrupt financially as they are morally. They deserve each other.
LOL...well, it will be great to see the unions get stiffed by the Chicago thugs. They don’t pay their campaign debts and still owe many creditors from ‘08.
12 The wicked plot against the righteous
and gnash their teeth at them;
13 but the Lord laughs at the wicked,
for he knows their day is coming.
14 The wicked draw the sword and bend the bow
to bring down the poor and needy,
to slay those whose ways are upright.
15 But their swords will pierce their own hearts,
and their bows will be broken.
16 Better the little that the righteous have
than the wealth of many wicked;
17 for the power of the wicked will be broken,
but the LORD upholds the righteous.
Hear our prayer, O Lord
Hear our prayer, O Lord
Incline thine ear to us
And grant us thy peace. Amen ...
Very interesting; thanks for posting.
(Gilbo_3, B4Ranch, cripplecreek, thought you guys might find this interesting.)
Seems to be a very dangerous situation not to mention possibly illegal.
I pray He still considers this country 'righteous' enough to uphold and that He does not turn his face away from America .... we need his presence more than ever:
Then they will cry out to the LORD, but he will not answer them. At that time he will hide his face from them because of the evil they have done. (Micah 3:4)
The Mafia guys have better suits, the unions thugs work for table scraps and the demonRAT politicians suck up to both groups.
The union bosses dress almost as well as the Mafia and make a very good living but really don't have the guts to push the ice pick into the back of the neck {they will hire the Mafia to do the wet work}.
You know what would be amusing: if the debt was bought by the RNC. ;)
http://40daystosaveamerica.com/mission.html
2 Chronicles 7:14 ~ “If my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven and will forgive their sin and heal their land.”
May it be thus, O Lord, may it be thus ...
Thanks .... I do believe in the power of prayer.
When thieves do business with thieves, everyone better hold on to their wallets.
Ephesians 6:11-12 ~ “11 Put on the whole armor of God, that you may be able to stand against the wiles of the devil. 12 For we do not wrestle against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this age, against spiritual hosts of wickedness in the heavenly places.”
May He yet show mercy ...
gotta be illegal at some level for pols to be beholden financially to a lobbying org ???
although this just confirms what has been common knowledge for yrs...
I'm going to say 'no' for that; the big politicians and unions are both Statists, and therefore have the same interests: providing for their god, the state.
gotta be illegal at some level for pols to be beholden financially to a lobbying org ???
I'm not sure about that; you'd think so but there's stuff like McCain/Feingold which really screw up what's "legal" in politics.
The SEIU owns its own bank?
Those poor abused workers must be in dire need of another raise!
Underpaid!
Overworked!
..underbrained...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.