Saturday, May 25, 2013
Jump to content
50°Clark County, WA
Clark County Live Traffic Map
Last login: Tuesday, May 31, 2011
Don't have an account?
for a free columbian.com account.
Hey thanks for the post. If you want to donate you can do so by going here http://tinyurl.com/3xetbnf BUT I would really appreciate if you could vote each day for the pepsi grant via texting and email AND then get your network to do the same. Thanks again for your post, it's encouraging.
January 4, 2011 at 4:39 p.m.
| suggest removal
BOCC Closing - Unfortunately there is a lot that is missing from this article. First and foremost is the fact that most of the loans that they are speaking about and that were held by the bank were not in default...the article makes it sound like they were. These were people that were continuing to pay their loans on time as agreed. But when the FDIC stepped in they froze the loans and stopped people from being able to continue with their projects, sell product and employ people in Clark County.
Then the piece they really missed - Lennar Homes who is the parent company of RIALTO Capital that is managing the loans made $200,000 in political contributions in 2008 and $1.2M in 2009, they year before they signed their sweetheart deal with the FDIC. Not in an auction, but a behind closed doors handshake agreement. Then the FDIC gave them a $700M loan at 0% interest for 7 years to do what they want - all the while giving them control of $3.5B in loans.
Now they are playing hardball with people that the FDIC failed locally. This is not developers getting greedy, this is local business people that do not have the money or connections to compete in Washington D.C. Follow the money people - it will tell the story.
And none of this is the responsibility of either party - it is the problem with our system - a system that caters to the very well connected and wealthy or the very poor and needy - but not those in the middle.
January 18, 2011 at 7:47 p.m.
| suggest removal
Place your ad on Columbian.com
Copyright 2013 columbian.com. All rights reserved. Use of this site constitutes acceptance of our user agreement.
Back to top