Something stinks - ABC Nightline - GWB appointee for ambassador is a crook

[Bozita]

First time in a long time, NO Nightline email.

The second story is about the Ameriquest business practices. Very seedy, predatory stuff. Ameriquest's major domo is a Bush nominee to represent The United States as an ambassador.

Maybe now I understand the email thing.

Take a look at this:

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/01/24/BUGV8GRU8F1.DTL&feed=rss.business

Millions to settle loan abuse
- Kathleen Pender
Tuesday, January 24, 2006


Ameriquest Mortgage, the nation's largest subprime mortgage company, settled predatory lending allegations by 49 states on Monday, agreeing to pay $295 million in restitution and clean up its lending practices.

The agreement, which included an additional $30 million to reimburse states for their legal fees, was the second-largest predatory lending settlement, after a $484 million agreement reached in 2002 with Household Finance Corp.

The privately held company acknowledged no wrongdoing.

Based in Orange County, Ameriquest has spent millions of dollars crafting a brand image and buying political influence. It sponsored last year's Rolling Stones tour and Super Bowl halftime show.

Roland Arnall, its founder and principal shareholder, has donated millions to President Bush, Gov. Arnold Schwarzenegger and many other elected officials from both parties.

Last year, Bush nominated Arnall to be U.S. ambassador to the Netherlands, but his confirmation stalled in the Senate Finance Committee pending settlement of state investigations into Ameriquest's lending practices.

The agreement should clear the way for Arnall's confirmation.

more...

[dchill]

1. The agreement ...

should clear the way for Arnall's incarceration.

[Greyhound]

2. A crook in the shrub administration,

so what else is new?:shrug:

[OrangeCountyDemocrat]

5. My Thoughts Exactly

This is a surprise?

[EST]

3. Pay to play-expensive ambassadorship.

In a crooked universe, where everyone and everything is crooked, perhaps it's all relative. No wonder there is no more mafia-the whole thing, top to bottom, is organized crime. They're all on the take.

[FreedomAngel82]

4. When are they never crooks?

[Bozita]

6. leftcoast alert