Let's make one thing clear: This Dan Nelson Automotive fiasco is not the bloggers' fault, not KELOLAND's fault, not the Iowa Attorney General's fault, not my fault. Let's take a look.
There were THOUSANDS of complaints against DNA in Iowa to the Iowa AG. All of those people weren't Democrats.
"Buy here pay here" is a controversial means of selling people with distressed credit vehicles, particularly when interest rates are 25% in a time when interest rates in general are at historic lows. The Iowa AG's investigation apparently found not just smoke but fire at DNA.
John Thune had a close, long term relationship with Dan Nelson. Dan Nelson had a close, long term relationship with MetaBank's Tyler Haahr. Large loans that were made on the cusp of DNA's bankruptcy by MetaBank. John Thune sat on the Board of Directors at MetaBank at the time. There is an appearance of conflict of interest with Thune sitting on the board (where the buck literally stops) and Nelson. What we don't know is if Thune pulled any strings for Nelson. We're still trying to figure out if there is actual conflict of interest. That hasn't been proven or disproven yet.
Thune has denied he has pulled any strings for Nelson. That is yet to be proven or disproven.
The reporting on MetaGate, even by the Lefty blogs, has been almost exclusively based on public records and court filings. There is a paper trail and my buddies on the Left have simply followed it. Now, some of the SDMSM is also following it.
A formerly small, family owned Iowa bank could be in financial trouble because of its bad loans. The full extent of that trouble, if any, has not been determined yet.
This case is ultimately about Dan and John's own personal responsibility and DNA's and MetaBank's own corporate responsibility. I find it funny that some Republicans like John Thune are great about preaching responsibility but when things get a little hot that they are involved in, it is suddenly somebody else's responsibility. Like the bloggers. Geez.
Sen. Thune said in the Senate campaign that he was better than Tom Daschle because he "had the President's ear" on Ellsworth and generally had more clout. Then, when EAFB goes south, he suddenly has no clout and is no better than an unknown freshman Senator from a small state. He puts on this "oh poor me" act about having to throw hardballs at the President's head to get his attention on issues like the Bolton nomination and CAFTA. Again, geez.
Same with MetaBank. You have to imagine he was put on the MetaBank board because of his connections (former Congressman, Congressional lobbyist, former legislative lobbyist, former Senate staffer, former SBA staffer), ties to President Bush (convinced him twice to run for Senate), friendship with Nelson, and the distinct possibility that he would be the next U.S. Senator from South Dakota. Now, he says he's a Lee Harvey Oswald-like "patsy" who just went to a few meetings and lots of other people signed off on loans.
If Thune was put on the MetaBank board because of his friendship with Nelson, that in and of itself is not a problem. That is how business works. You scratch my back, I'll scratch yours. The problem is if Thune knew of the extent of Nelson's problems at DNA and whether he disclosed those problems to MetaBank when they were considering the loans.
Either Thune has clout and connections or he doesn't. He apparently turns his clout on and off like a faucet, depending upon the the political mess he is in.
Todd D. Epp is an attorney, Democratic activist, former broadcast journalist, and editor of "S.D. Watch" (http://thunewatch.squaresapce.com)
housekeepers near Des Plaines ..Former Senator, Daniel Moynihan, accurately summed up the situation when... Read More
Sodomy is against the law, yet goes on every day... Read More
From the comfort of their plush offices and five to... Read More
I am not an African-American. Don't call me an African... Read More
Well having studying the need for decreasing America's dependence on... Read More
We are having a problem in America with Public Notaries,... Read More
There's a new Michigan state register (at https://www.protectmichild.com/) in the... Read More
Those who are above the law or act as such... Read More
Freedom is in the eyes of the beholder. In Communist... Read More
It appears the Feds are suing Elliot Spitzer over his... Read More
We are seeing some trade wars brewing as American trade... Read More
I always have to remember to take a deep breath... Read More
I would like to discuss a few issues we have... Read More
For anyone who wishes to become an armchair General in... Read More
Every conflict has its economic moments and dimensions. The current... Read More
There are many mines around the world, which are owned... Read More
Which companies are most affected by fuel? Who really bears... Read More
As the populations expand in Colorado outside of Denver, Las... Read More
Entrepreneurs can clean up the environment if we would let... Read More
Why is it that every single thing government does; it... Read More
Veterans Affairs Employees using government credit cards on personal items?... Read More
Question: Dr. Vaknin ? is it true that you are... Read More
I would like to pose a question. I am unsure... Read More
With pain rocking through my whole body today, I cast... Read More
It is widely known in the Homosexual Male Populations that... Read More
custom home cleaning Glenview ..The Federal trade Commission has a rule, which says that... Read More
I always have to remember to take a deep breath... Read More
US Steel prices have cost franchisees in my company and... Read More
Are the junior attorneys in the Attorney General's office leaving... Read More
The new law "Special Protective, Antidumping and Import Compensatory Measures"... Read More
Federal Regulations on Business Destroy America, these regulations are a... Read More
The US Homeland Security is worried about Hydrofoil or Skimmer... Read More
Airlines do not allow cell phones on board, but they... Read More
Kudos goes out to the George Walker Bush's Administration and... Read More
China is serious about breaking into the bio-tech field and... Read More
The CBR taxes the Pakistani source income of nonresident individuals... Read More
When Pennsylvania Senator Arlen Spector exercised his right to free... Read More
Indonesia's Energy Minister, Purnomo Yusgiantoro, is unhappy with the modest... Read More
As the populations expand in Colorado outside of Denver, Las... Read More
Commission for Africa (CFA), one is made to understand is... Read More
Our government is set up like a modern day franchise.... Read More
In a move that rocked the online world and left... Read More
Perhaps a silent revolution is taking place, this time more... Read More
The filibuster has been a tool available to U.S. Senators... Read More
The blogosphere has been jumping around the story like crazy... Read More
The most damaging factor to our economy today is the... Read More
Today we have a new franchise report from the Federal... Read More
Iran's objection to ratifying the International Atomic Energy Agency's Additional... Read More
The resignation from cabinet yesterday, Sunday, by the Israeli minister... Read More
Hello! Happy new year. May you live a long healthy... Read More
Political |