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)
Wood Dale Chicago prom limo .. Lockport Chicago limo O’HareThe United States is losing its industrial capacity quite rapidly.... Read More
I have to be honest. It is time to come... Read More
The Sarbanes-Oxley Act Was created on July 30th 2002, by... Read More
On June 16, 1972, a security guard at the Watergate... Read More
There is a lot of debate about who made the... Read More
You know we have sent many, many army tanks with... Read More
Many parents might think it a bit farfetched to compare... Read More
Many believe Al-Qaida already has nukes in the United States... Read More
Blessed with Chinese GDP growth rates (7-8% annually in each... Read More
A SOLUTION FOR EMPLOYMENT PROBLEMS TO AID IN THE FIGHT... Read More
Guides for RetailersThe regulations about marketing pearls are listed in... Read More
The Republican Party became popular due to its view on... Read More
Our Airports have excess capacity, which is not being used... Read More
Are you happy with all this so-called security after 9-11?... Read More
ADOLF HITLER:The common perception of Hitler being large and in... Read More
It is amazing we have so many men, who belong... Read More
INTRODUCTIONPERHAPS the sentiments contained in the following pages, are not... Read More
While many Pennsylvanians are struggling to figure out how they... Read More
The Palestinian Fatah Movement is doing whatever it can to... Read More
The most exciting event in Slovenia last week was when... Read More
The Organization for Economic Cooperation and Development issued a report... Read More
The other day I was sucker punched, hoodwinked, bamboozled, had... Read More
All to often law makers and regulators create rules and... Read More
It is time for a change. A change in philosophy,... Read More
Iran's objection to ratifying the International Atomic Energy Agency's Additional... Read More
Antigo wedding limo ..City Governments is their quest for; "quality of life" often... Read More
The American Dream is the promise to have it all... Read More
The Justice Department is at it again; promoting themselves in... Read More
Close to 500,000 people - one in four - live... Read More
Many folks who are pro-NASA and Pro-Space Colonies say that... Read More
Many MLM sales people mean well but they inadvertently commit... Read More
Public utilities and a problematic issue on the allowance of... Read More
These leaders like the Rothschilds who backed Crowley's Hermetic Order... Read More
In order to win the presidency in America, candidates must... Read More
All government regulators or diplomat who are in high risk... Read More
Is Ohio Manufacturing Sector really unable to compete in the... Read More
To be justified, taxes should satisfy a few conditions:Above all,... Read More
PolicyFederal Fair Housing accessibility requirements for new multifamily buildings should... Read More
Why President Bush should have his second term? The arguments... Read More
In this day and age of tattletale, whistleblower heroes and... Read More
Conventional warfare is getting to its limits. Soon wars will... Read More
Everyone knows the United States Government often falls down in... Read More
In every national budget, there is a part called "Public... Read More
So you are ready to run for public office are... Read More
We have heard a lot about the coming bird flu... Read More
Nothing could be more alarming for Americans than what I... Read More
It is amazing we have so many men, who belong... Read More
How do you feel about Terminator Seeds from Monsanto? I... Read More
There is a connection between economic growth and unemployment. There... Read More
The other day I was sucker punched, hoodwinked, bamboozled, had... Read More
Political |