To: bonesmccoy
Corruption is to Gray Davis as
Where there's cheeses, there's bound to be meeses!
2 posted on 7/30/02 6:15 PM Pacific by bonesmccoy
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Posted on 08/13/2002 10:02:07 PM PDT by Libloather
Citigroup Donating Big Sums to Davis
Tue Aug 13, 8:32 PM ET
By LOUISE CHU, Associated Press Writer
SACRAMENTO, Calif. (AP) - Financial services giant Citigroup Inc. is fighting on several fronts in California to influence key legislators and Gov. Gray Davis.
Since January 2001, the company has donated at least $200,000 to Davis, including $75,000 in May, when the company threw a fund-raising luncheon for Davis, state campaign finance records show. The Democratic governor and the nation's largest financial services company have had a long relationship, and Davis' brother-in-law George Ross is the company's chief credit officer and a longtime associate of Citigroup chief executive Sanford Weill.
Citigroup's May donations came just before its Citibank subsidiary sued the state over a law that would require credit card companies to warn customers on their monthly statements how long it would take to pay off balances by just paying the minimum monthly payment.
The lawsuit is one of the many recent Citigroup moves, as it tries to maintain its market share, prop up its faltering stock price and fight back consumer organizations seeking to limit the sale of personal financial information.
"What do they want for that big investment?" asked Robert Stern, president of the Center for Governmental Studies, a Los Angeles-based think tank studying campaign finance and elections. "My assumption is that the return will be enormous, if they get what they want."
Citigroup officials did not return repeated calls by The Associated Press for comment, and its chief Sacramento lobbyist, Lynnea Olsen, declined to comment.
Long considered one of the nation's most successful companies, Citigroup has been rocked by huge loan losses in Latin America, accusations that its investment bankers helped hide Enron's debt from the public and a federal investigation into whether it offered special access to shares of new stock offerings to executives at now-bankrupt WorldCom. As a result, its stock is down 39 percent this year.
In a state where an enema is considered foreplay, unfortunately, no...
"The sands of the hour glass are dwindling for the RATS"
Corruption is to Gray Davis as
Where there's cheeses, there's bound to be meeses!
2 posted on 7/30/02 6:15 PM Pacific by bonesmccoy
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Where there's cheeses, there's bound to be mouses!
60 posted on 7/30/02 10:27 PM Pacific by bonesmccoy
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Boilerplate Whitewater ~right down tothe straw-man father-in -law
By September it was revealed that Terry had underwritten the Clinton Mortgage in NY ~ the case seems to have died
ELECTRICAL WORKERS (IBEW)
DOL Sues Union Fund Tied to Clinton-Crony McAuliffe
The U.S. Dep't of Labor filed suit May 5 against two trustees of the $8.3 billion Nat. Electrical Benefit Fund charging improper dealings between the fund and top Clinton-fundraiser Terence R. McAuliffe. According to DOL, NEBF trustee John Grau and ex-trustee Jack F. Moore imprudently lent over $6 million in pension assets. NEBF is operated jointly by the Int'l Bhd. of Electrical Workers, from which Moore retired as secretary in 1997, and the Nat. Electrical Contractors Ass'n, of which Grau is a vice president.
The scam involved a $6 million loan in 1992 to Columbia Land & Development Corp. of Orlando to buy a subdivision called Country Run which was to be developed into 545 lots. McAuliffe and his wife, Dorothy S. McAuliffe, own Columbia. The loan was in default from Dec. 1992 to Oct. 1997. DOL says NEBF should have known the loan couldn't be repaid in full with interest. The suit seeks the trustees to reimburse the fund for losses, including interest.
The McAuliffes also own Am. Capitol Management, a partner with NEBF in a separate investment called Am. Capitol Group I Assets LP, which guaranteed payment of the Columbia loan. In a separate 1991 investment, NEBF paid $38.7 million to buy five apartment complexes and a shopping center near St. Petersburg. The partnership bought the properties from the Resolution Trust Corp., which had taken control of them from a bank in receivership that had been owned by McAuliffe's father-in-law.
DOL alleges NEBF imprudently purchased a $2.45 million interests in ACGIA, a move that reduced the value of the ACM guarantee on the Columbia loan. McAuliffe's holdings in ACM had been collateral for the loan. The suit further alleges trustees made one of the purchases in the ACM partnership even though the Columbia loan was in default. The pension fund then reportedly sold its share of the partnership and the Columbia loan to ACM at a loss. [Pensions & Investments 5/17/99]
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What a lark!
This board should Freep Cuomo with McAuliffe info.
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