Tuesday, September 22, 2009

The Guys Behind the Guys

There's the TV stereotype of the Party of Big Business, the Party of the Rich, and the Culture of Corruption. And, then there's harsh reality: US Charges Obama Fund Raiser In $290 Million Dollar Fraud

Hassan Nemazee, a fund-raiser for Barack Obama, Hillary Clinton and other Democrats, has been indicted for defrauding Bank of America, HSBC and Citigroup Inc out of more than $290 million in loan proceeds, U.S. prosecutors said on Monday.

The announcement follows last month's indictment of Nemazee, head of a private equity firm and an Iranian American Political Action Committee board member, on one count of defrauding Citigroup's Citibank.

The new indictment adds allegations that he defrauded two other banks, Bank of America and HSBC Bank USA, in a similar fashion by falsifying documents and signatures to purportedly show he had hundreds of millions worth of collateral.

The office of the U.S. Attorney in Manhattan and the FBI said he used the proceeds of his scheme to make donations to election campaigns of federal, state and local candidates, donations to political action committees and charities.

Namazee was making $100,000 worth of donations to Democratic causes each year. He was also yet another foreign national donating $$ from dubious sources - and was himself of dubious origin - to progressive causes. But, hey, no problem, right? There's always a Joe Wilson or Mark Sanford around against whom public opprobrium may be directed.

No doubt, Namazee will be brushed off as just another wanna-be; a guy who made huge donations to socially approved causes so he could have his picture taken with Hillary Clinton, or whatever. I am sure that works with the guilty consciences of progressives who find it easier to raise money, rather than earn it.

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