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This is a simple story.
Two banks were weak and under normal circumstances closed down by the Feds.
Democrats interceded to get your money transferred to their favored banks.
"Prior to giving a $12 million piece of the bailout to OneUnited bank, the Treasury Department knew the bank was weak and had a spotty record of lending to low-income homeowners, according to internal Treasury e-mails [1] obtained by Judicial Watch [2], a conservative watchdog group.
This is hardly the first time the feds learned of problems at OneUnited, the minority-owned bank that was championed by Reps. Maxine Waters and Barney Frank. Waters, whose husband had a financial stake in the bank, currently faces ethics charges [3] for the assistance she provided to it.
Just two months before the banks bailout, regulators at the FDIC had accused OneUnited [4] of unsound banking practices and excessive executive perks, which included a Porsche SUV that was registered to the bank but listed at the address of the banks CEO."
I can't wait for the corruption trial, in the House of Representatives to start for Maxine Waters. By the way, while she represents South Central Los Angeles, it is believed she actually lives in Brentwood--twenty miles away from her district--is this another Democrat involved in election fraud?
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Two banks were weak and under normal circumstances closed down by the Feds.
Democrats interceded to get your money transferred to their favored banks.
"Prior to giving a $12 million piece of the bailout to OneUnited bank, the Treasury Department knew the bank was weak and had a spotty record of lending to low-income homeowners, according to internal Treasury e-mails [1] obtained by Judicial Watch [2], a conservative watchdog group.
This is hardly the first time the feds learned of problems at OneUnited, the minority-owned bank that was championed by Reps. Maxine Waters and Barney Frank. Waters, whose husband had a financial stake in the bank, currently faces ethics charges [3] for the assistance she provided to it.
Just two months before the banks bailout, regulators at the FDIC had accused OneUnited [4] of unsound banking practices and excessive executive perks, which included a Porsche SUV that was registered to the bank but listed at the address of the banks CEO."
I can't wait for the corruption trial, in the House of Representatives to start for Maxine Waters. By the way, while she represents South Central Los Angeles, it is believed she actually lives in Brentwood--twenty miles away from her district--is this another Democrat involved in election fraud?
More...