Skip to comments.Democratic National Committee Moves Its Money to Amalgamated Bank (America's Labor Bank)
Posted on 08/11/2012 6:11:42 PM PDT by Libloather
Democratic National Committee Moves Its Money to Amalgamated Bank
By Amalgamated Bank
Published: Friday, Aug. 10, 2012 - 2:35 pm
WASHINGTON, Aug. 10, 2012 -- /PRNewswire/ -- The Democratic National Committee (DNC) announced today that it has recently moved its primary banking relationship to Amalgamated Bank, America's Labor Bank. The DNC will use Amalgamated Bank's cash management services to handle its day-to-day banking needs.
In announcing the new alliance with Amalgamated, DNC Chair Debbie Wasserman Schultz said, "We are proud to join forces with Amalgamated Bank, an organization with a 90-year legacy of reflecting the values of our nation's middle class. Amalgamated and the Democratic Party share a common heritage of advocating for positive changes in our economy and society to help working men and women achieve their fair share of the American dream. Furthermore, at the DNC, we have a fiduciary responsibility to those who invest in our party; it is critical that we honor their efforts to strengthen our infrastructure and build our organization by partnering with an institution that shares our commitment to standing with America's working families and small businesses, who we believe are the backbone of our country."
(Excerpt) Read more at sacbee.com ...
This is great. The DNC just handed all of their cash over to union thugs. And they did it to placate them over the pick of NC for the convention. Those crooks running this sham of a bank are going to clean them out. That money is gone......
So what was last weeks bank? G S
I smell a rat.
I’m betting the bank will extend “a line of credit” to the DNC, that won’t be burdened with typical terms.
the easier to wash it my dear
Thats so Soros and union thugs can funnel money into it.
Hmmmm?? Must be easier to deposit all those “false” tax return checks there.
Wait when the Money Comes Pouring in from China Russia and India..Money Laundering UNION style.
“Amalgamated and the Democratic Party share a common heritage ...”
“...Bankrate believes that, as of March 31, 2012, this bank [Amalgamated Bank] exhibited a significantly below average condition, characterized by substantially lower than normal overall, sustainable profitability, questionable asset quality, well below standard capitalization and lower than normal liquidity.”
‘Occupy Wall Streets Bank [Amalgamated Bank] Under FDIC Scrutiny’
Of course, if your primary mission is not custodial care of your clients' funds but funneling cash to a certain political party, then maybe you want antique systems run by nitwits. :)