Posted on 07/01/2009 9:29:37 AM PDT by Steelfish
Hawaii senator helps bank he founded get aid
Central Pacific Financial did not meet criteria, holds bulk of Inouye's wealth
June 30, 2009
WASHINGTON - 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.
(Excerpt) Read more at msnbc.msn.com ...
Nothing to see her, move along.
They managed to avoid mentioning his party in that whole excerpt. Had it been an (R) after his name it would have been in there about 5 times.
You can always tell if the article is about a Dem, the (D) is halfway down the page, if there at all.
Did he hold a luau?
It was about halfway down the page in the article at the link.
Probably typeset there because it was right at the fold...
funny, do that in the private sector and that would fetch you 150 years in jail(madoff).
#1 He’s a rat. Enough said
#2 He’s a war hero. Enough said.
#3 Because of 1 and 2 he is above the law.
He’s no Ted Stevens who had house repairs done for free for Pete’s sake!
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