Miami banker who gave away $60 million gets front-row seat to Obama speech

[sabra]

Source: Miami Herald

Leonard Abess Jr., the Miami banker who quietly gave $60 million of his own money to his loyal staff of 399 current and 72 former workers, plans this evening to be watching President Barack Obama's speech to a joint session of Congress from first lady Michelle Obama's box.

Geneva Lawson, a 51-year employee at City National Bank of Florida, will also join the first lady for the speech. Lawson, the safe-deposit custodian at the Miami Beach branch, is among the 471 staffers and former staffers who were stunned by their boss' largess.

Abess, 60, gave the hefty bonus last November after selling a majority stake in City National Bancshares and made no effort to attract public attention to his generosity. His story became public this month after he mentioned it offhandedly in an interview with The Miami Herald.

''Those people who joined me and stayed with me at the bank with no promise of equity -- I always thought some day I'm going to surprise them,'' he said. ``I sure as heck don't need (the money).''

Read more: http://www.miamiherald.com/news/politics/AP/story/919394.html

[Kittycat]

1. As it should be.

This is a time when we need to put a spotlight on people helping others out - especially when there is no benefit to them to do so.

[roguevalley]

2. and Jesus smiled. Finally. Lovely story.

[No Elephants]

3. This is great and generous. On the other hand, how does this guy have $60 million to

give away? Just think how much we, as bank depositors and borrowers, are being soaked so that a few can become obscenely rich. And then, we're supposed to prop them up, too?

We need a consumer revolution, not a bank bailout.

[Tempest]

4. It was his family's bank

It had been in the family since the 1940s.

He grew up rich.

The bank didn't get involved in any of the schemes that other banks are in trouble for and is still strong and doing well.

[No Elephants]

12. If he has sixty million to give away bc of a bank, then the bank

gouged borrowers and was not fair with depositors, either, whether it was his family or him, or, more likely, both. That is exactly the kind of thing that has put our economy where it is.

[progressoid]

7. Yeah,

The scary thing is there are thousands of people with his kind of wealth that are hoarding it right now. And they couldn't care less about who they have hurt to get rich.

[Jefferson23]

8. Absolutely right, too many don't care at all.

[valerief]

5. I think blue moons are more common than rich people who give away

substantial sums of money. Great story.

[Qutzupalotl]

6. An average of $127K.

That's a hell of a bonus.

:thumbsup:

[KamaAina]

9. zOMFG! Obamessiah is selling seats to his State of the Union!

This is worse than the Lincoln Bedroom and Blagogate combined!!!

:sarcasm: of course, but wait for it on FR or WorldNutDaily or someplace...

[dana_b]

10. good for him for sharing the wealth n/t

[GeorgeGist]

11. Al Capone once had a charity to help the poor.

He died in the syphillis ward of Alcatraz. Most of his wealth reverted to the Mafia.