Posted on 09/22/2012 2:40:56 AM PDT by Libloather
Free Beacon: Wasserman hails DNC's $8 million partnership with SEIU bank
By: Devonia Smith
September 21, 2012
Friday, The Free Beacon, reported the Democratic National Committee, (DNC) is in hock to the tune of $8 million to "Amalgamated Bank, often described as “America’s Labor Bank," whose majority ownership is Service Employees International Union (SEIU). According to the Beacon, Debbie Wasserman Schultz (D), "hailed" DNC's banking move because of a “fiduciary responsibility to those who invest in our party.”
**SNIP**
Not only will the Democrats owe the union for their support; they will now owe real money. Some think thinks this kind of arrangement smacks of pay-back.
(Excerpt) Read more at examiner.com ...
I’m here for the free bacon ... oh ... my bad.
Talk about the Democrat Party in the Tank of the S.E.I.U.
These cretins are beyond Outrage, Both Sides
Excellent article. Put her in the same category as B.J. Barney Fank.
If so what is the reason for a Union to "own" a bank?
Usually a business, church etc will form a Credit Union at arms length for their employee's parishioners etc, this all smells to high heaven to me.
Banking Professional Freepers please chime in...
Neither, it’s a money laundering entity.
More big-money/politics mixing. Wilbur Ross rescued this thing. Criticizes obama and then invests in a failing union bank.
http://dealbook.nytimes.com/2012/04/11/for-union-owned-bank-lifeline-offers-chance-for-growth/
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.