Bush Picks Ameriquest Owner as Ambassador Firm's Lending Tactics Investiga [View All]

[Kerrytravelers]

<http://www.washingtonpost.com/wp-dyn/content/article/2005/07/28/AR2005072801842.html>

Bush Picks Ameriquest Owner as Ambassador
Firm's Lending Tactics Investigated

By Kirstin Downey
Washington Post Staff Writer
Friday, July 29, 2005; D01



On the same day that the White House announced that President Bush is nominating California billionaire Roland E. Arnall to be ambassador to the Netherlands, the company he controls said it would set aside $325 million for a possible settlement of allegations of predatory lending tactics.

Arnall's company, Ameriquest Mortgage Co., is being investigated by regulators in 30 states. A $325 million settlement would be one of the largest ever in a predatory lending case.

<snip>

Arnall is the firm's principal shareholder. He, his wife and their companies have been the biggest political contributors to Bush since 2002.

Speaking about the ambassadorial nomination, White House spokeswoman Erin Healy said: "The president . . . feels Mr. Arnall is well qualified for the position. He had a long career in the private sector and has contributed a great deal to his community."


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Ok, let's all put on our surprise faces. :wow: I sure none of us here at DU would have guessed * would pick such a man of upstanding morals. :banghead: I wonder, does he ever have a dillema in his head at all? moral? immoral? :dilemma: moral? immoral?

I loved the quote: "Does Bush realize what they are doing?" she said. "I hope not. This guy is ripping off people, hardworking people."

* doesn't care what they are doing. This guy he's loyal to me and my empire and that's all that counts. Take that, stupid American people! :grr: