Shocker: Democrat Senator Got Bank He Founded/Is Invested In A Nice, Fat Federal Bailout

Proof • July 1, 2009

I’m telling you folks, we’re not citizens. We’re supplicants. It’s the political elites world. We have to get their permission to live in it.

Sen. Daniel K. Inouye’s staff contacted federal regulators last fall to ask about the bailout application of an ailing Hawaii bank that he had helped to establish and where he has invested the bulk of his personal wealth.
The bank, Central Pacific Financial, was an unlikely candidate for a program designed by the Treasury Department to bolster healthy banks. The firm’s losses were depleting its capital reserves. Its primary regulator, the Federal Deposit Insurance Corp., already had decided that it didn’t meet the criteria for receiving a favorable recommendation and had forwarded the application to a council that reviewed marginal cases, according to agency documents.
Two weeks after the inquiry from Inouye’s office, Central Pacific announced that the Treasury would inject $135 million.
Many lawmakers have worked to help home-state banks get federal money since the Treasury announced in October that it would invest up to $250 billion in healthy financial firms. But the Inouye inquiry stands apart because of the senator’s ties to Central Pacific.

This is exactly what the politicians want. They want all the power. They want the power to decide which banks succeed. Which companies succeed. Which people get health care, and how much health care and when. And then they not only want to be able to use that power to benefit themselves, they want us to line up and supplicate them to get them to exercise their power in our favor.

Tags: Asshats, Domestic Issues, Politics

http://www.dartemis.net/blog/ sayanything-42

Most Ethical Congresss EVAH!

Nancy and Harry must be so proud!
robert108

When you want real poltical corruption, you have to go with the Dems.
Slacker Deluxe

He probably promised the one he would vote for some upcoming bill in return.
Bat One

So Daniel K. Inouye, WWII hero and Medal of Honor awardee, turns into just another political hack surreptitously enriching himself, single-handedly stuffing his pocket at public trough.

Former GOP Congressman “Duke” Cunningham, also a military hero, had the decency to resign when his corruption was uncovered. Democrat Inouye, like William “Cold Cash” Jefferson, will likely only lose his parking spot.
Carlene Gauler

Does this really surprise anyone? If this had been a conservative, he would have to resign. This Dem will just apoligize & get away with it. They run the country like Mafia, so why not.
2Hotel9

Can you say conflict of interest? I knew you could. Apparently the FBI, Treasury Service, and Senate Ethics Committee can’t!
Hannitized

Just curious, but….how is any of this unethical?

This is a story of what somebody thinks happened. There is a stimulus designed to rescue banks who qualify, a bank got stimulus money, just as many, many, many other banks have. One bank has ties to a senator who fought against the country his grandparents came from and lost an arm fighting for this great country.

You are going to tear this guy down before legitimizing a complaint?

You are all mad.
Hannitized

While at least 33 senators own shares in banks that got federal aid, a review of financial disclosures and records obtained from regulatory agencies shows no other instance of the office of a senator intervening on behalf of a bank in which he owned shares.

Even if Inouye were directly involved, it would not violate the rules the Senate sets for itself, experts said.

Both the FDIC and the Treasury said the decision was not affected by the involvement of Inouye’s office.

So go ahead with your smear of a decorated WWII war veteran, who lost an arm for you to sit her and act like babies.

Go for it boys.
Hannitized

What is your point Bat? Other than being petty and tasteless that is.
Bat One

On the one hand, Inouye was a hero in World War II and was awarded the Medal of Honor.

But on the other hand… Ooops! Never mind that “other hand” stuff.
2Hotel9

The point is he violated the law. Period. Full stop. He violated Senate Ethics Committee rules for conduct of Senators. And he is now trying to lie his way out of it.

Now, post some more bullshit from Democrat Party members trying to deflect attention away from the fact that what Inouye did is illegal. Illegal for me, illegal for you, and illegal for him.
Hannitized

2Hotel is dead wrong….as usual.
Hannitized

And why won’t bad defend his accusations amidst the information Rob provided that clearly states the WWII veteran did no wrong, or nothing illegal, even IF he had done so himself?
Hannitized

And why won’t BatOne defend his accusations amidst the information Rob provided that clearly states the WWII veteran did no wrong, or nothing illegal, even IF he had done so himself?
pparets

Hannitized: the post focuses on this…

Sen. Daniel K. Inouye’s staff contacted federal regulators last fall to ask about the bailout application of an ailing Hawaii bank that he had helped to establish and where he has invested the bulk of his personal wealth.

The war hero status of Inouye is irrelevant here. This is a senator who regulates federal regulators ‘asking’ for the bailout of a bank where he is heavily invested. Thus, he has substantial personal interest in the outcome of his ‘request’.

Were you or I to ask for such a favor, we would be laughed at. Legal or not, Senator Inouye used personal senatorial clout and it worked.

It looks bad. It smells bad.
Bat One

H,

I’m only to happy to answer your question… this time… and as it suits my convenience. But please don’t presume to think that I’m obliged to defend myself to you. For anything I write, incisive or tasteless. You ought to know better by now.

My accusation was that Inouye was

surreptitiously enriching himself, single-handedly stuffing his pocket at the public trough.

Which is a not so polite way of saying exactly the same thing as the article cited by Rob in the original post. I didn’t say he has broken the law, nor have I accused him of violating Senate ethics rules, which everyone knows are a pathetic joke under Reid and the Democrat majority in any case. Inouye’s corruption is blatant and unconscionable, even if it is marginally legal.

One more point, and this is where I disagree with pparets. Inouye’s status as a WWII hero is not completely irrelevant, as it is a keen marker of just how low the man has sunk since he was given the MoH.
Hannitized

Inouye’s status as a WWII hero is not completely irrelevant, as it is a keen marker of just how low the man has sunk since he was given the MoH.

An honor of which certainly someone of you caliber certainly has not received.

You don’t know what Inouye’s office had asked or what their motivation was.

Hawaii is a unique business community, and any dramatic impact to it shakes the very foundation the business community.

The could very well be a more important reason for the bank obtaining a slight exception, including the fact that Hawaii is Obama’s home state.

The article makes no mention of impropriety, and you know it.

Your failure to give a man who has earned the benefit of the doubt, is noted.
2Hotel9

sanni, defending criminals who are destroying America, yet again.

It is illegal for me to do, it is illegal for Inouye to do. Period. Full stop.
Hannitized

Wrong 2Hotel, you don’t know what you are talking about.
2Hotel9

It is illegal for you to do. It is illegal for me to do. It is illegal for Inouye to do. Period. Full stop. A felony is a felony. Or are you telling us that Democrats are allowed to commit felonies? Is that your big legal definition? He is a Democrat, so it is different. Or, its only a crime if you get caught? Is that your guiding moral principle, sanni?
Bat One

Wrong 2Hotel, you don’t know what you are talking about.

Wow!!! Was that ever devastating! Plenty of facts in evidence to support your position, and an impeccably rational, well-argued line of reasoning leading to a thoughtful, immutable conclusion.

No rash tantrums or emotional outbursts for you, right, H? No wild assertions with nothing backing ‘em up but the dubious force of your personality! No way! Just solid, fact-based, deductive reasoning.

Phooey!

SayAnythingBlog.com

Shocker: Democrat Senator Got Bank He Founded/Is Invested In A Nice, Fat Federal Bailout

Create a SAB Readerblog

Recent Comments