McAuliffe's Real Job At Bank
beaconxt9
handlers are running a real tear jerker of an ad concerning Federal City
National Bank. Well here is exactly what Terry did for the bank:
" ...
Federal City National Bank, 1988-91
In January 1988, when he was 30 years old, McAuliffe became the youngest
chairman of a bank in the history of the United States when he assumed
responsibility for all aspects of Federal City's operations.[12]
Shortly thereafter, the bank loaned $125,000 to a political action committee
that supported Richard Gephardt's Presidential campaign. McAuliffe told the
New York Times that he abstained from voting on the loan because he was also
the Gephardt campaign's finance chairman.[13]
The bank also provided loans to Tony Coelho and the then-Speaker of the
United States House of Representatives, Jim Wright. Both Representatives
would soon retire from Congress under the cloud of scandal.[14]
In 1991, under McAuliffe's leadership, the bank was cited by federal
regulators for unsafe and unsound banking practices. Regulators forced
McAuliffe to sign a consent agreement that required the bank to hire outside
management, review delinquent loans, track bad credit, and raise additional
capital. [15]
Ultimately, McAuliffe was unable to raise the additional capital required by
federal regulators.[16]
In December 1991, after four years as chairman and with his bank reeling
from real-estate losses, McAuliffe merged Federal City National Bank with
another institution run by political insiders, Credit International Bank.
[17] ...". from sourcewatch.org.
Typical for one of the political class to use the system to get wealthy so
they can run for office. Republicans do the same thing.
Why the Virginia papers don't publish the truth is beyond me. Just who is
really behind McAuliffe? Is it the same group of "americans" that put Obama
on the path to the White House? If you listen to the AM talk shows both
local and national, call in and ask.
Never forget the USS Liberty.
marika
> Ole Terry is just your typical egg-sucking, yellow dog Democrat. His
> handlers are running a real tear jerker of an ad concerning Federal City
> National Bank. Well here is exactly what Terry did for the bank:
> " ...
> Federal City National Bank, 1988-91
> In January 1988, when he was 30 years old, McAuliffe became the youngest
> chairman of a bank in the history of the United States when he assumed
> responsibility for all aspects of Federal City's operations.[12]
Thanks, I wouldn't have thought he was old enough to retire.
mk5000
"Within about an hour of arriving, I was already face down in my first
meal, a simple bowl of fried rice prepared at a local street stall.
One bite and I knew that I was going to enjoy my time in Thailand.
Cooked in front of me, served with a hint of a smile and entirely
delicious. Add to that the fact that the cost was less than the price
of a daily newspaper back in London and I walked away with smug mode
fully engaged."--http://eatmyglobe.blogspot.com/