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The Bank of (Democratic Party) America
Townhall.com ^ | January 18, 2012 | Michelle Malkin

Posted on 01/18/2012 4:01:43 AM PST by Kaslin

Well, isn't this rich? And I do mean rich. President Obama, man of the people, will deliver his presidential nomination acceptance speech at the Bank of America Stadium in Charlotte, N.C. -- so that Democratic Party fundraisers can reward big donors with skyboxes and other lavish perks.

As usual, the White House and its allies are trying to camouflage naked partisan money-grubbing in populist garb.

"I think this would be a great opportunity to have tens of thousands of North Carolinians and others outside of the state to see and participate in the convention process," one North Carolina Democratic Party flack told the Charlotte Observer.

But it's the heavyweight contributors, not the hoi polloi, to whom convention organizers are catering as they struggle to raise some $37 million to cover the coronation celebration's costs. The self-proclaimed Party of the 99 Percent is reportedly busy creating special-access VIP packages for the 1 percent -- under the illusion of throwing open its doors to the masses. DNC officials refuse to disclose fundraising updates until after the convention, even as they champion their own "openness and accessibility."

And no doubt, Obama will use his stadium-size pulpit to "stand up" to the very same "fat cats" who'll be watching him while sipping Courvoisier in their DNC-appointed luxury seats.

Such is the audacity of progressive cognitive dissonance.

Despite the DNC's vaunted promise to ban business donations and first lady Michelle Obama's faux-folksy public relations campaign for a "people's convention," Bank of America (headquartered in North Carolina and Charlotte's largest corporate presence) will be front and center at the festivities. No surprise. The Democrats and Bank of America have maintained a long, lucrative relationship as reciprocal bailout buddies.

During the 2010 midterm elections, former DNC chairman and ex-Virginia Gov. Tim Kaine secured a $15 million revolving line of credit at BofA and then finagled another $17 million loan from the taxpayer-bailed-out bank. According to Federal Election Commission records, BofA accepted as collateral the DNC's donor mailing list. Yep, its donor mailing list for $32 million in loans. As investigative reporter Richard Pollock asked at the time: "What message does a largely unsecured $32 million credit line for the Democratic Party send to thousands of cash-starved small businesses across the nation who can't secure any credit even with tangible assets?"

Message: crony business as usual.

Bank of America is to sweetheart loans and Democratic Party payoffs as Paula Deen is to sugar and bacon grease:

-- The massively troubled bank raked in a middle-of-the-night, taxpayer-funded $45 billion banking bailout in 2008 and an estimated $931 billion in secret federal emergency loans.

-- In 2008, BofA's political action committee gave its biggest contributions to Barack Obama totaling $421,000.

-- After purchasing junk mortgage company Countrywide, BofA agreed to pay $50 million in restitution payments for Countrywide subprime loan fraudster and Democratic fat cat Angelo Mozilo and one of his underlings.

-- BofA forked over payoffs to self-declared bank terrorist outfit NACA (the taxpayer-subsidized Neighborhood Assistance Corporation of America).

-- BofA also capitulated to a Jesse Jackson shakedown. And it forked over at least $2 million to the ACORN Housing Corporation -- which has had a long history of fraud and abuse that goes back decades.

-- The financial giant teamed up with the open-borders lobby (including newly appointed Domestic Policy Council chief Cecilia Munoz's former employer, the National Council of La Raza) to offer illegal alien home loans.

No word yet on whether Obama's Greek columns from the 2008 convention will make a return appearance this fall. But if they do, they may yet be emblazoned with a new red-white-and-blue Bank of Democratic Party America logo.

Optics be damned. The coffers must be filled.


TOPICS: Editorial; Politics/Elections
KEYWORDS: bankofamerica; formom; fundraisers; junkmortgage; partypayoffs

1 posted on 01/18/2012 4:01:50 AM PST by Kaslin
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To: Kaslin

Only Malkin could write this as the MSM will portray the coronation as an event for the “common man”.


2 posted on 01/18/2012 4:13:03 AM PST by Erik Latranyi
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To: Kaslin

What inquiring minds want to know is will zero have a stage set up with greek pillars and cauldrons of fire? Hey whats for dinner? Mac and cheese again! Funny how hope and change lasts when the color is right.


3 posted on 01/18/2012 4:14:22 AM PST by ronnie raygun (V)
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To: Kaslin

we’re in the process of severing our nearly 30 years of doing business with these idiots. I think the last direct withdrawal item was processed this week and all of our banking will be with a local credit union.


4 posted on 01/18/2012 4:24:03 AM PST by cyclotic (People who live within their means are increasingly being forced to pay for people who didn't.)
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To: Kaslin

I hope “tens of thousands” of my fellow North Carolinians stay away in droves.

Think I’ll be busy watching my grass grow that day....


5 posted on 01/18/2012 4:24:20 AM PST by Adder (Say NO to the O in 2 oh 12)
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To: Erik Latranyi

The Lamestream Media is predictable, just like the liberals are and Michelle Malkin knows that


6 posted on 01/18/2012 4:24:55 AM PST by Kaslin (Acronym for OBAMA: One Big Ass Mistake America)
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To: cyclotic

Why anyone does business with them is beyond me


7 posted on 01/18/2012 4:26:51 AM PST by Kaslin (Acronym for OBAMA: One Big Ass Mistake America)
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To: Kaslin

Dozens of HD cameras inside, not a single one outside, I’ll wager.


8 posted on 01/18/2012 4:33:46 AM PST by relictele (Green energy is neither)
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To: Kaslin
But it's the heavyweight contributors, not the hoi polloi, to whom convention organizers are catering as they struggle to raise some $37 million to cover the coronation celebration's costs.

Party of the people... < /snort>

9 posted on 01/18/2012 4:34:08 AM PST by sauropod (You can elect tyranny - Marc Levin)
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To: Kaslin

Almost two years ago, they called to report some suspicious activity on my ATM card. I called back and went over my transactions and there was nothing suspicious. I had been living 500 miles from home for several months at a new job before my family could join me. (Part of Obama’s new American dream) These boneheads neglected to tell me that they also cancelled my card and made no mention of getting me a new one. I found that out when I was down to $2.00 in cash and couldn’t get any more...500 miles away.

They would only send a new card to my home in Michigan, not to Baltimore where I was. 90 minutes in a branch office didn’t even work. It took a while to get accomplished but we’re making the final break this week.


10 posted on 01/18/2012 4:38:06 AM PST by cyclotic (People who live within their means are increasingly being forced to pay for people who didn't.)
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To: Kaslin
Such is the audacity of progressive cognitive dissonance

Justify behavior by adding new cognitions is something the Democrats do easily.

11 posted on 01/18/2012 4:41:54 AM PST by corlorde (Drone strikes: the preferred method of killing by Nobel peace prize winners since 2009)
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To: cyclotic; All

I had some issues with BOA a lot of them. One of them was charging my card even though there was not enough funds in there. Went back to Chase... Much better then BOA..


12 posted on 01/18/2012 5:08:07 AM PST by KevinDavis (Ron Paul called Ronald Reagan a miserable failure.....)
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To: Kaslin

I’ve subcontracted out to them and it has been at best a mediocre experience. My last week has been delayed for the past two due to some internal network problem affecting new systems. I have also had a large rental van parked in my driveway for the past two weeks. At least it looks like someone is here all the time.

BofA is the cheapest and most paperwork intensive crowd I have ever run into.


13 posted on 01/18/2012 5:10:51 AM PST by wally_bert (It's sheer elegance in its simplicity! - The Middleman)
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To: ronnie raygun
What inquiring minds want to know is will zero have a stage set up with greek pillars and cauldrons of fire?

Pergamum: The Seat of Satan

This is a chilling documentary about the site that inspired the setting for Barack Obama’s nomination at the 2008 Democratic Convention.

http://www.cbn.com/700club/features/churchhistory/pergamon

14 posted on 01/18/2012 5:45:55 AM PST by stars & stripes forever (Blessed is the nation whose God is the Lord!)
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To: Kaslin

Hope For A Hurricane


15 posted on 01/18/2012 5:47:31 AM PST by Iron Munro ("Don't pick a fight with an old man. If he is too old to fight he'll just kill you." John Steinbeck)
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16 posted on 01/18/2012 6:19:52 AM PST by deoetdoctrinae (Gun-Free zones are playgrounds for felons)
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To: Adder

“O” will have to bus people in from NOLA if he wants to fill that place without a terrific cash incentive for attendees


17 posted on 01/18/2012 6:22:54 AM PST by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
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To: Kaslin; Bill W was a conservative; verga; thesaleboat; Sick of Lefties; Chainmail; ...
+

Freep-mail me to get on or off my pro-life and Catholic List:

Add me / Remove me

Please ping me to note-worthy Pro-Life or Catholic threads, or other threads of general interest.


18 posted on 01/18/2012 6:24:33 AM PST by narses
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To: Kaslin

Bank of America does not own that stadium, they rent the naming rights from the Carolina Panthers. The first two days of the convention will be held in Time Warner arena. I guess TW is not big enough to incite Malkin’s ire.


19 posted on 01/18/2012 6:30:54 AM PST by csmusaret (The only borders Obama has closed is a bookstore.)
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To: KevinDavis

I did have fun there one day. They needed ID and I gave her my state issued concealed Carry permit. Theough the lady’s head would explode.


20 posted on 01/18/2012 9:36:46 AM PST by cyclotic (People who live within their means are increasingly being forced to pay for people who didn't.)
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To: Kaslin

“[Bank of America] teamed up with the open-borders lobby.....to offer illegal alien home loans.”

In the spring of 2008, just months before Lehman Brothers went bankrupt, Bank of America was running home mortgage ads on MSN.com with this red letter headline...

“No Social Security Card Required”

21 posted on 01/18/2012 10:55:57 PM PST by zeestephen
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