I’m curious what the sentencing guidelines will be. Committing the bank fraud as a borrower (lying on your loan application) was 10 years per count for Manafort. Wouldn’t surprise me if knowingly approving a fraudulent loan as the banker is something less than that.
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According to WaPo “Calk faces up to 30 years in prison if convicted of the charge of financial institution bribery.”
If he’s lucky, they consider him a dupe and he’ll get less. But this is serious.
Which is why the thing with Professional Bank is so interesting (to me at least).
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Good question. The indictment says the bank suffered $12 million in losses from the loan. If the loan was indeed more than 50% of the bank’s outstanding loan amounts, then those losses were a catastrophe. And the indictment notes that every deposit was FDIC insured, so the feds (we taxpayers) are on the hook if the bank fails.
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“Look, Paul was working for free so this loan wasn’t to get this guy into the administration it was to pay his bills”
If any member of the Grifters Only Party comments on this it’ll look a lot like what it says above
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Calk ultimately interviewed for the position of Army under secretary . . . though he was never appointed to Trump’s cabinet.
That’s quite an indictment of Calk given the stellar quality of the people who have been nominated and confirmed.
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Technically Manafort faced “30 years” too (3 counts at 10 years apiece). But a quick look at federal bribery sentencing guidelines says that some baselines can start at higher numbers (it’s complicated). Calk better have someone to give up.
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As mentioned above, 50% of the bank’s reserve. It is normal for a bank to have up to 20 times its reserve in outstanding loans.
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Got it. Thank you.
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Yes. One wonders if he lost the job on his own demerits, or whether the word circulated in the white house to ixnay anything anafort-may.
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Only the best people…
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Sounds like the banks investors may need to sue.
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. . . And the hits just keep on comin.’
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Just asking, but are you aware that @system is Not a real person. A global user for system notifications and other system tasks.
Great minds, I posted the below lyrics from the old Queen hit before I saw your prescient post!
And another one gone, and another one gone
Another one bites the dust
Grifting Over Patriotism
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Probably wouldn’t have if they hadn’t gone into public service. Obviously nobody gave a damn until Trump came into the race to the White House.
Actually, that is a Trump Quote from 1993 when he was in Bankruptcy (again) and a reporter asked him why he still had a lavish lifestyle. He replied: “When you owe the bank $50, that is your problem. When you owe the bank $50 Million, that is the bank’s problem.”
That should tell you all you need to know about how “fiscally conservative” he is.
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OT: I’ve given up on “beg the question”. I think “gay” referring to a lesbian was first recorded in the late 1700s.
As someone who grew up in a country that was not English-speaking, before the internet and cable TV. My relation with the English Language was almost exclusively through literature (and a few movies) and then “gay” meant gay (lighthearted and carefree). The few references to homosexuality that I remember they used “queer” or in Britain “closet queen”.
Only the BEST people!