Posts Tagged ‘loan’

Meet A Couple Who DON’T Accuse Mitt Romney Of Killing Them With Cancer

August 11, 2012

What is interesting from this story is how the New York Times really intended this to make Mitt Romney look bad.  But sometimes somebody does something that’s so decent it’s impossible for even the best professional slanderers to make his act look bad:

NYT introduces us to couple Romney didn’t try to kill with cancer
posted at 3:21 pm on August 10, 2012 by Mary Katharine Ham

No, instead, he gave them a personal loan for a house. A house filled with cancer.

Nope, just a regular house they rented from Romney in the Houston suburbs. After Romney’s initial investment in five rental properties went south, he ended up holding on to them for more than a decade, often renting them at a loss. The Times notes it’s one of few miscues in Romney’s investment history. When he did offload the homes, the renters were given first dibs, but Timothy and Betty Stamps were unable to get a loan for the home because Timothy had recently lost his job.

“Then I got this phone call, personally, from Mr. Romney, asking if we really wanted to buy the house,” Mr. Stamps, 63, said in an interview the other day at the barbershop he now runs. “I said, yes we did. And he said he would loan us the money. He really helped us when we needed it.”

Here’s the NYT being careful to explain how this should be taken as part of its narrative of Romney as rich meanie, but the Stampses see it slightly differently:

Nearly lost among the blizzard of hedge funds, thoroughbred horses and other gold-plated investments in Mitt Romney’s personal financial disclosures, the interest from the $50,500 mortgage is loose change to Mr. Romney, whose net worth has been estimated at close to a quarter-billion dollars.

Yet for the Stampses, who have been writing $600 monthly checks to “Willard M. Romney” for 15 years, the money they borrowed from him to buy their home in 1997 was life-changing…

When Mr. Stamps took the call from Mr. Romney, he and his wife, a nurse, had all but given up hope of being able to buy the house they had been renting for five years. Mr. Romney told him it looked like the couple had been taking good care of the property and that “we would be good people to buy it,” said Mr. Stamps. Mr. Stamps said he never heard from Mr. Romney again, and only became aware of who he was when he started running for president four years ago.

“His name came up somewhere,” he said, “and my wife and I said to each other, ‘That’s the guy we bought our house from!’”

This story had been previously unreported, but not because no one was in touch with the Stampses:

Mr. Stamps said that he and his wife had received calls in recent months from strangers who “seemed to be looking for negative stuff” about Mr. Romney, but that the couple had nothing to say to them. (The Stampses recently refinanced the original 30-year loan; the new mortgage, still with Mr. Romney, was dated June 12 but signed just two weeks ago. Details of the interest rate were not included in the public record.)

Andrea Saul, a Romney campaign spokeswoman, declined to answer questions about the Texas investment.

Props to the NYT for reporting on this. Many will say it’s just another Romney investment designed to benefit him, even if it did also benefit a regular American couple on tough times. But a) yes, meet capitalism— a beautiful mechanism whereby people can freely engage in mutually beneficial economic decisions every single day and b) he didn’t have to put his neck out and offer a personal loan to someone a bank deemed unqualified. He demonstrated personal faith in the Stampses and it turned into a cool story in which one American could make allowances for another American’s circumstances and take a risk a bank wouldn’t. Liberals find this noble when Freddie and Fannie do it with your money. It’s nice to keep track of all these stories to even out the icy Mitt narrative.

Exit question (Allahpundit™): Or, did he just buy them off to prevent revelations of his secret plan to inflict lots and lots of death?

It’s funny how most people are looking for gold and will look through a ton of dirt to find that gold.

In the case of liberals, they’re looking FOR the dirt and will throw out all the nuggets of gold in their search for it (e.g., as they toss through Sarah Palin’s garbage and even begged the public for help examining all of her emails looking for dirt on her).

Shameless Demagogue-in-Chief Obama Actually Blames GOP For Solyndra EVEN THOUGH ALMOST 100% OF REPUBLICANS VOTED AGAINST IT

March 23, 2012

Barack Hussein Obama is the most pathologically dishonest weasel who has ever lived in or even VISITED the White House:

Good Grief: Obama Attempts To Include Republicans In Blame For Solyndra
March 22, 2012 – 2:06 pm

No, seriously, he really tries this

(Fox News) While making his push for solar, Obama explained to a reporter for National Public Radio that the blame for Solyndra was bipartisan and not the fault of the Obama Democrats “per se.”

“Congress, Democrats and Republicans, put together a loan guarantee program because they understood historically that when you get new industries, it’s easy to get money for new startups,” Obama said. “But if you want to take them to scale, often there is a lot of risk involved and what the loan guarantee program was designed to do was to help start-up companies get to scale.”

Except, as usual, Obama has his facts 100% wrong

The 2009 stimulus package that provided the funding for a loan of $527 million for Solyndra, which subsequently defaulted, got zero Republican votes in the House and three Republican votes in the Senate — Maine Sens. Olympia Snowe and Susan Collins and former Pennsylvania Sen. Arlen Specter, who switched parties two months after the vote. There was no Republican input on the structuring of the energy loan program and the specific loan to Solyndra was a Democratic job from start to finish.

Even ABC News’ Devin Dwyer calls BS on this, reiterating the above paragraph, and adding

During a May 2010 visit to Solyndra, Obama explicitly credited the Recovery Act with supporting the company’s early success.

The man is shameless.

Crossed at Right Wing News and Stop The ACLU.

It just makes you shake your head.  And then hang it in shame that this kind of lying turd is actually our president.

Democrats continue to repeat the outright and outrageous lie that the Bush administration was responsible for this fiasco.  Here are the facts on that:

The bottom line remains that the Bush Administration did not approve the Solyndra loan guarantee. And just before they headed out of town, Bush officials ordered the project back to the drawing board.

Democrats argue the Energy Department first received the loan request in December 2006. By January 2009, it was still under consideration. That month, the department’s Loan Guarantee Credit Committee put the project on hold.

In a terse one-page memo, dated Jan. 9, 2009, the committee noted that the “apparent haste in recommending the project meant that certain LGPO (Loan Guarantee Program Office) credit procedures were not adhered to.”

It further stated that: “While the project appears to have merit, there are several areas where the information presented did not thoroughly support a finding that the project is ready to be approved at this time.” It then cited four areas of concern.

First was the lack of any “independent market study addressing long-term prospects for this specific company.” An independent credit assessment had “raised the issue of obsolescence in marketing this project.” Obsolescence? That’s never a good word to hear in a product marketing study.

Second, it noted that the committee had never seen a supposed sales agreement the company had for its product even though an unnamed “outside legal advisor” had. In other words, the committee only had vague assurances that there was even a buyer for the product.

Third, it noted, “There are questions regarding the nature and the strength of parent guarantee for completion of the project.” In other words, the committee wasn’t convinced the project would even be finished.

Fourth and finally, it vaguely noted “concern” over production start “scale-up” at a second Solyndra facility.

The memo concludes by saying “the number of issues unresolved makes a recommendation for approval premature at this time” and sent the project back to the LGPO for “further development of information.”

That strikes Capital Hill as a pretty damning — not to mention prescient — analysis of the Solyndra loan proposal. The loan wasn’t ready and Bush’s Energy Department wasn’t going to approve it. If Solyndra had proved to be a success, green energy fans would today probably be claiming the Bush White House had dragged its feet and endangered the project.

At the very least it shows that the Bush administration was doing the “due diligence” that DeGette questioned.

Bush did everything but drive a stake through the Solyndra loan guarantee’s heart in January of 2009.  His administration identified not one but four compelling reasons why the loan project should NOT go ahead.  But by March of 2009 – in complete abdication of consideration of any of the concerns the Bush administration identified – that loan was moving full speed ahead by Obama and ONLY by Obama.