Monday, September 21, 2009

Obama Fundraiser Collared on Fraud Charges

Well, a cynic would certainly say that this has something to do with the Administrations rather curious support for the Iranian regime:

NEW YORK (Reuters) - 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 Iran ian American Political Action Committee board member, on one count of defrauding Citigroup's Citibank.”

But with the Democrats, it's not just the stupidity, it's old fashioned cupidity.

We might also observe that this guy's ability to defraud all of these banks to the tune of close to $300 million says something very unfortunate about our banking system, and the folks running it.