When a powerful Republican congressman's wife is hired by a bank, and the bank gets a federal taxpayer bailout worth hundreds of millions, what does it mean? That will probably shake itself out. The congressman: House Republican Whip Eric Cantor (R-VA). The wife: Diana Cantor, managing director of the Virginia subsidiary of New York Private Bank and Trust.
Paul Kiel and I just broke the story at Propublica and you can read the whole story here:
http://www.propublica.org/article/bank-employing-gop-house-leaders-wife-got-bailout-bucks-090123
In brief:
Rep. Cantor played a key role in getting bipartisan approval for the controversial $700 billion bank bailout bill in September, although since then he has been a vocal opponent of the surprising way the money is being spent: buying up stock in banks.
Still, it is one of those strange quirks in politics that $267 million of the money is going straight to a privately owned bank where Cantor's wife, Diana, is the managing director at a subsidiary. It's a job she apparently started early last year, after years in finance.
Cantor's people maintain that his wife and he did not even know that her employer was applying for a federal taxpayer bailout.
The parent company is called "New York Private Bank and Trust," and it's run by New York real estate tycoon Howard Milstein.
The Treasury Department sent the money to the bank on January 9th, a little more than a week before the Bush administration left office.
Diana Cantor works for a private bank subsidiary that bills itself as a "haven for wealthy individuals and families."
Wow! You cannot make this stuff up. Let us shine the lights on these people and watch them scatter.
Enter Diana, with Goldman-Sachs Ethical experience and someone who could spruce up the cash value of those spiraling 'assets', (plus get yet another commission in their reestablishment) with the help of hubby Eric, "Repugnantcan Whip" with 267 million UncleSugarBucks from the B.O. fund, tarping his way to re-election. This guy also gives me "the creeps", having that "good of the people" facade that covers his real motives.
But like in any war . . . those with the power lose the least.
Henry Paulson led the Investment Management division of the Midwest region from 1983 to 1988 and then managing partner of the Chicago office from 1988 to 1990.
What are the chances that Paulson and Mrs. Cantor never met?
Good 'ole boys syndrom.............!
Surely no one is really surprised. And to think, it's tax time! Time to pool our resources to give away to the next round of crooks.
Its unbelievable that the Media is not running this story, Bill Oreilly and Sean Hannity were asking what happen to the rest of Bailout money.
But when i email them this story FIXNEWS never mention Eric Cantor name.
Last night Orielly were naming all the corrupt Politicans but Cantor was not name.
Fair and Balance, YA!!!!!!!!!!..
http://www.thirdeyechronicles.com
Boehner, on the other hand, just looks like a broke arse George Hamilton.
Cantor's the kind of lying weasel who could become the next Tom DeLay if he's not kneecapped in the mean time.
Enough is Enough!