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.
Well, well, well.......ya don't say? :) :) :) Yes, daschole, let's look at everybody in the Senate, the House, the DNC.......starting with Gepharpt, Daschole, McCauliff . . . .
http://www.washingtoncitypaper.com/archives/ptrail/1999/ptrail1001.html
GRRRRRollin for TRUTH!!
The GOP stinks at propaganda and the rats are better than Goebbels.
http://www.stargazergroup.com/select_pages.cfm?link=advisors
Yeah, that's why they're my friends. They won't help me rule the world though. :^)
GRRRRRollin and Goin' Low!!
I like Jeff Gordon, he was Earnhardt's business partner. There's a few true racers in NASCAR and Gordon's one of them. I like Gordon, but of course I like Junior, Waltrip, Park, and Harvick better. :^) At least Gordon does drive a Monte.
Now there's a guy that I'm sure Missouri can be really proud to have representing them! (Sarcasm off)
LOL, I'd like to see that as well. Glad you salvaged your data.
Amazing.... I'm a private citizen and they sure pay attention to my business dealings. In fact, if we tried what they get away with, we'd be in prison!
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.