Democrats use TARP money to shore up personal fortunes

Story from the Washington Post. Senator Daniel Inouye (DEMOCRAT) intercedes to have TARP funds redirected to the floundering “Central Pacific” bank, which he owns.

But I prefer Hot Air’s summary.

In other words, Inouye interceded to get TARP funds to secure his personal assets.  He used his political clout on Capitol Hill to get Treasury to approve a “marginal” application that had already been rejected once, in order to save his own bank from collapse.  Central Pacific had already been in trouble with the FDIC even before the collapse in the lending and financial sector, thanks to bad management practices and undercapitalization.  The FDIC had required a change in management and $40 million more in capitalization, which is why Treasury was reluctant to give CP a bailout check in the first place.

Inouye isn’t the first member of Congress to have used TARP to rescue personal fortunes.  Maxine Waters did the same thing with OneUnited of Massachusetts, where she and her husband had significant investments.  In that case, Waters arranged a meeting between OneUnited and regulators, while Barney Frank wrote legislation that required Treasury to grant special consideration to OneUnited’s TARP application.

A second Hot Air piece about the corruption in the cap-and-trade bill.

Remember that last-minute, 300-page amendment to the cap-and-trade bill that hit the House just hours before the vote approving it?  The one that Democrats insisted on putting up for a vote before anyone had the chance to read it?  When one reads the contents of it, as the Washington Times’ Edward Felker did, it becomes apparent why Henry Waxman and Edward Markey pushed it through so quickly.  It was a payoff for Rep. Marcy Kaptur (D-OH) to turn her back on coal-producing Ohio and vote to kill the economy in her state, and she wasn’t alone…

…The amendment itself got published in the wee hours of Friday morning.  By the time the House came to order and began debate, it hadn’t yet been noted by the media.

In essence, Waxman and Markey bought Kaptur with our money. They spent $3.5 billion for a single vote in Congress, and Kaptur had willingly put herself up for sale.  Never mind that Ohio will get [hit] hard by caps on the use of coal.  Ohioans will lose jobs, their energy bills will skyrocket, and that will have an inflationary effect on all goods and services as the jobless rate escalates.

More Democrat corruption in Michigan

But this is not the only corruption going on with those sneaky Democrats.

Michigan Democrats are involved in yet another corruption scandal. I wonder if these Democrats keep their piles of cash in freezers like the Louisiana Democrats do.

Here’s the story from the BlogProf. This blog has been tracking the story from its inception.

Excerpt:

Ever since Monica Conyers became a convicted felon, a big chunk of the the most powerful Michigan Democrats have been somehow connected to the growing scandal. Husband John Conyers somehow wrote a letter to the EPA to open toxic deep wells that he vehemently opposed, which was a boost to Jim Pappas who was bribing Monica for the favor. In the middle was Monica Conyers advisor Sam Riddle. In addition, Pappas hired U.S. Sen Debbie Stabenow’s husband, Tom Athens, to illegally lobby for the same deal, all the while Stabenow publicly came out against Canadian trash imports, including those that we to be injected into said wells.

Since the conviction of Monica, Riddle has been talking. What he said today raised many eyebrows throughout the state, now ensnaring the Michigan Democrat Party, Jennifer Granholm, Mark Brewer chairman of the Michigan Democratic Party, and Bernard Kilpatrick father of disgraced felon ex-mayor Kwame Kilpatrick. From The Detroit News: Riddle: FBI probed $50K deal with Dems.

People who trash the free exercise of religion, traditional morality, the rule of law and family should not be expected to act honestly. Morality requires certain metaphysical beliefs, which Democrats, being secular socialists, just don’t have grounded by their worldview.

We can’t elect people who believe that it’s OK to kill defenseless unborn children for convenience and then expect them to have integrity. It’s not rational for someone like that to act morally. If they are willing break the big moral laws, they’ll have no trouble breaking the small ones, too.

2 thoughts on “Democrats use TARP money to shore up personal fortunes”

  1. I’ve long argued that morality is the single issue.

    If someone is not honest in one place, the odds are heavily in favor of their not being honest elsewhere.

    And if someone finds it acceptable to support/condone morally reprehensible actions in one area, it’s not a surprise to find them “fudging” elsewhere.

    Like

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