"Would you believe...?"
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.
Actually, I'm well aware of what's going on. I was trying to use a little levity by tossing the Democrats' words back at them. I know it's hard to tell these days when one doesn't use sarcasm tags. I guess I assume the statements are so obviously sarcasm that they speak for themselves, but these days, one can't tell anymore.
-PJ
Oh, well, let's see. Could it be, HILLARY!?
Just think about this campaign finance reform we were supposedly clamoring for. The first reform took away the secret ballot.
? I'm a Libertarian candidate for the Florida House. Lets say a teacher wanted to donate to my campaign. What do you think that persons life would be like when public dsclosure exposes him/her. The second round stomped on the first amendment by silencing any opposition sixty days before an election, which with peoples short memory, is the most important time frame for exposing, lets say, views on guns?
It was a house located in the "Colony-by-the-Sea" development in Duck on the Outer Banks, north of the Wright Memorial Bridge. I had a condo in the same development that I used as a seasonal vacation rental. Believe he took and investment credit write off but never rented it out.
Tell us all how he fit's on a scale of 1-10 (with 10 being the greatest and 5 being average) against the average democrat.
Of Bush.
I don't get that line. Is this a goof up by Drudge?
Say, fella....everyone else around here managed to respond to my questions in a typical Freeper manner (polite, intelligent, unassuming, etc.)
And your problem is....??
OK, I get it. You are not so polite, intelligent and unassuming. My mistake.
What's the that saying .. Follow the money
Yep, and it will continue until we get rid of them.
It almost seems that the only thing our politicians are good for these days is investigating themselves for things they have done. We the taxpayers are getting billed to prosecute our leaders. What an effing joke our government has become.
"Would you believe...?"
It WAS on Fox News Special Report last evening. That's probably where Drudge got it.
And NO, the Big Three - and CNN, MSNBC, et al will be silent on it.
Gee what S&L would that be???
Reminds me of a Sci-Fi show from several years back......Anybody remember "V", starring Marc (Beastmaster) Singer and Jane Badler?
Hope Bea is well? Its been a while.
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