Free Republic 2nd Qtr 2024 Fundraising Target: $81,000 Receipts & Pledges to-date: $36,694
45%  
Woo hoo!! And we're now over 45%!! Thank you all very much!! God bless.

Keyword: bwarneyfwank

Brevity: Headers | « Text »
  • Political Interference Seen in Bank Bailout Decisions; Barney Frank Goes to Bat for Lender

    01/21/2009 6:44:21 PM PST · by Brilliant · 17 replies · 999+ views
    WSJ ^ | JANUARY 22, 2009 | DAMIAN PALETTA and DAVID ENRICH
    Troubled OneUnited Bank in Boston didn't look much like a candidate for aid from the Treasury Department's bank bailout fund last fall. The Treasury had said it would give money only to healthy banks, to jump-start lending. But OneUnited had seen most of its capital evaporate. Moreover, it was under attack from its regulators for allegations of poor lending practices and executive-pay abuses, including owning a Porsche for its executives' use. Nonetheless, in December OneUnited got a $12 million injection from the Treasury's Troubled Asset Relief Program, or TARP. One apparent factor: the intercession of Rep. Barney Frank, the powerful...