Skip to comments.Terry McAuliffe silent on union-connected loan
Posted on 10/25/2013 2:41:45 AM PDT by Cincinatus' Wife
Terry McAuliffe has promised voters he is committed to transparency, but in the final days of a Virginia governors race he leads, the Democrat has steadfastly refused to explain a complicated financial arrangement involving several family trusts and a union-owned insurance and investment company.
For the arrangement, known in real estate parlance as a covenant not to encumber, Mr. McAuliffe along with two other trustees for family trusts in his wifes name asked a bank for a $750,000 letter of credit for the benefit of Union Labor Life Insurance Co., or Ullico, the union-owned company that came under a congressional investigation a decade ago for risky investments.
As part of the deal, new liens or sales contracts could not be placed on the familys home in McLean, Va., without the banks permission, according to land records that The Washington Times located in Fairfax County.
The document was signed by Mr. McAuliffe and his wife as owners of their home property that was used in the transaction.
The covenant between Mr. McAuliffe and Ullico appears to have escaped notice during a 2003 U.S. House investigation into how the company lost so much money in Global Crossing.
The Times was alerted to the document, sitting in a county records office, by a former labor official and prominent Democrat who was familiar with Ullicos loan arrangement with McAuliffe......
(Excerpt) Read more at washingtontimes.com ...
Who coined the phrase: “Terry, the punk, McAuliffe”.
And what kind of pussy name is McAuliffe anyway?
Considering McAuliffe is one of the sleaziest bastards around, this should almost be expected.
The association that I have with that name isn't pussy at all.
Terry however, can pick up his carpet bag and go home to New York.
what on earth is going on VA., Ken should be way ahead of this mobster, is the media there not covering all of his corruption?
" Yup, it's in the back seat, Terry. The newest vote fraud meat grinder,
in tip-top shape. Oiled and ready to use on Cuccinelli....complete
with do-it yourself instructions."
Insert Republican here.
We’ve been overrun by the Yankee agressors. Please send reinforcements
Unfortunately, we have turned blue in VA because of the huge gov presence in NOVA. Also, we have a weak candidate.
my state is the same though I live in one of the most republican counties and we’re not in debt.
I’m sure GA, MS, AL, AK, OK could spare a few hundred thousand to move to our two states.
Just bustin’ Terry’s balls. No harm intended, just had my Celtic on.
How could anybody vote for this SCUMBAG?
I have some of that, too. Too many good McAuliffes to let the carpetbagger spoil the name, though.
Can’t believe the lead he’s got over a decent man. Shows what outsider money will do.
I have zero understanding of the attraction to the Democrat party.
Dumb yourself down by half your native IQ and try to think like the Free Sh*t Army and if you have the imagination to do that, it kind of makes sense. It isn’t real, it doesn’t hold up to any sort of objective examination, but you can kind of see it.
A large amount of McAulliffe's votes will come from well-off liberals in Northern Virginia. Those people are brainwashed into believing that wealth comes from greed and evil, not surprising since a lot of their wealth comes from grifting off the government.
Another belief is that Republicans are evil for a couple reasons, mostly memes gleaned from Planned Parenthood ads. PP spent millions of tax dollars (fungible funds) to bash Romney in 2012 on the radio here. But the main motivation comes from the fact that the TEA party will dry up their punch bowl: the 100's of billions in government contracts.
Another belief is that there are people suffering due to inadequate handouts. When I ask one of the liberals about the "single mom without health care" I am told she is not an actual person but there are "millions of them" out there. But other than the occasional and easily debunked Fluke, they can't produce real anecdotal persons.
Yup. Lived in Alexandria and Arlington for a few years. It's getting colonized by people from MD and elsewhere who vote for this crap and somehow can't understand why MD isn't liveable anymore.
Seen it before- I'm a native Californian. Now it's coming here, too. I'm running out of places to be free in.
He may be sleazy, but the little Virginians have not gotten the message. I don’t think they can hear.
It seems that many of our fellow Americans, as LBJ called them, are determined to take away our freedom and their own for that matter.