Posted on 07/12/2002 8:34:24 AM PDT by zook
Edited on 07/12/2002 9:33:55 AM PDT by Admin Moderator. [history]
MY LOAN WAS CLEANER THAN YOURS: GEPHARDT RECEIVED UNSECURE LOAN FROM MCAULIFFE BANK
A bank founded by DNC chairman Terry McAuliffe -- which federal regulators determined used unsafe and unsound banking practices -- awarded an 'unusual and unsecured' loan to Gephardt in the late 1980s... MORE... While Running The Federal City Bank, McAuliffe Also Served As Finance Director For Dick Gephardt's Failed Presidential Campaign...
XXXXX DRUDGE REPORT XXXXX FRIDAY JULY 12, 2002 12:28:37 ET XXXXX
MAN IN THE MIRROR: GEPHARDT RECEIVED UNSECURE LOAN FROM MCAULIFFE BANK
My Loan Was Cleaner Than Yours!
"It is hard to lead when you haven't done the things that you're asking others to do," Rep. Richard Gephardt of Missouri, the Democratic leader in the House of Representatives, said of President Bush's low-interest loans more than a decade ago from an oil company where he served as a director.
"It's time this CEO, President Bush, took responsibility for his actions as a private businessman and as President of the United States," Democratic National Committee Chairman Terry McAuliffe declared this week. ""President Bush likes to preach responsibility.... when it comes to his own records, the motto is: 'The buck stops over there.'"
Yet records show: A bank founded by DNC chairman Terry McAuliffe -- which federal regulators determined used unsafe and unsound banking practices -- awarded an "unusual and unsecured" loan to Gephardt in the late 1980s!
MORE
McAuliffe and several other Democratic Party stalwarts founded Federal City Bank, which drew many of its clients from its political connections.
While sitting on the bank's board, McAuliffe also served as finance director for Gephardt's failed presidential campaign.
During that time, Federal City made a $125,000 loan to the Gephardt Campaign.
McAuliffe contended that he abstained from voting on the loan.
The loans were "unusual and unsecured" and might have violated Federal election laws because it was unlikely they would have been made had it not been for the ties to the campaign of the two bank officers, it was reported at the time.
Defending the loans to Gephardt's campaign, McAuliffe said that another Washington bank had told the Federal City Bank that it would advance the money for the loan. He said his bank had a letter from the other bank that they had approved the loan. But, when asked for the document, neither McAuliffe nore the bank's senior loan officer would furnish the letter or disclose the name of the bank they said had initially pledged to make the loan.
An industry trade publication noted that Federal City lost $1.5 million in its first three years in business. In October 1991, federal regulators cited Federal City for unsafe and unsound banking practices and forced the bank to raise more capital or face being shut down.
"Everyday, more questions arise," McAuliffe said this week.
Of Bush.
Note the Time I posted this on my home thread America the Right Way...
To: Mo1; Howlin; Miss Marple
McCuliffe Loans Gephardt money...
Throughout all McAuliffe's fundraising work, he remained a volunteer, and he made money by forming the Washington law and lobbying firm McAuliffe, Kelly -- though he says he himself never lobbied. In 1987, McAuliffe became finance chief for Rep. Richard Gephardt's presidential primary campaign, and, shortly before, he had served on the board of the Federal City National Bank, which loaned the Gephardt campaign a total of $1.4 million. While he worked for the Missouri Democrat, his business and political ties came under scrutiny when it appeared that some of the loans were unsecured, a charge later denied by McAuliffe and Federal City. McAuliffe told reporters at the time that he had abstained from voting on the approval of the loans. Jim Angle just mentioned this today on Brit's show...
176 posted on 7/11/02 6:23 PM Eastern by Dog [ Post Reply | Private Reply | To 170 | View Replies | Report Abuse ]
They got to hire you for the War Room in the next election.
All of these questionable actions by Gephardt and the Ethics Committee had the gall to come down hard on Gingrich when he hadn't in fact done anything wrong! This really makes my blood boil.
Now that's CLASSIC!!!
2. thanks for the answer
Looks like some fighters have sprung up and are ready to dish it right back to the Demontrashcats.
"Dick Gephardt: "Political chameleon has morphed from an anti-abortion conservative to a protectionist lefty populist. Had to return $22,000 in questionable contributions from the Lippo Group after that scandal broke. A campaign volunteer illegally attained credit reports of 2 Gephardt opponents in 1996, though Dick and his paid staff were cleared of charges. He failed to report his half-interest in a $750,000 North Carolina beach home in his 1992 disclosure report, doing so 3 weeks later after being questioned about it."
http://www.realchange.org/#gephardt
:-)
...Because the letter does not exist. Terry and buddies, when pressed, will come up with something to the effect that the letter was "lost"...probably thrown away because it wasn't considered important.
Still, I love to see the left-wing forced to eat their own words. BUMP!
When an FEC regulated institution happens to be run by the guy who runs your election campaign AND gives your campaign an unsecured loan at the same time, it proves (circumstantially) that the loan was politically motivated, and makes it look SUSPICIOUSLY like Terry was buying hisself a Congressman.
Don't you just love how the important letters seem to get "lost," but they have no trouble digging up letters from detractors from decades ago within days of accusations in order to smear?
-PJ
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