Ricky Santorum Screwing Us Again...
Monday, February 27, 2006
Well our buddy Rick Santorum is back in the scandal news, go figure. This time it has to do with his mortgage. Rick likes to remind us that he is just like the rest of us and lives paycheck to paycheck. If that is the case how do you explain a loan from a private bank that only does business with investors who happen to be wealthy. No one can walk into thePhildelphia Trust Co and do business, 1st off you need to be an investor. Well our boy Ricky had secured a 5 year interest only at 5% in 2002. What makes this illegal is that the Senate prohibits mortgages from institutions who do not do business with the general public. If the Senate was serious about reform then there would be an investigation. But wait, it is none other than Santorum who is leading the charge on cleaning up the ethics violations. One other interesting tidbit, Ricky sits on the Senate Banking Committee............................
Over the last year, Santorum has spoken more openly about his finances, saying that although he makes $162,000 annually, he and his wife still live paycheck to paycheck as they support their six children.
George J. Marlin, Philadelphia Trust's chairman and chief operating officer, would not speak directly about Santorum yesterday.
"This is a bank and I am not about to violate laws," said Marlin, a conservative who once ran for mayor of New York City. "Under the Bank Secrecy Act and the Patriot Act, I am prohibited from affirming or denying any client relations with the Philadelphia Trust."
Five executives with Philadelphia Trust gave Santorum $11,000 for his 2000 and 2006 reelection campaigns, and $5,500 to his leadership PAC, America's Foundation, according to finance reports. The bank also donated $10,000 to Santorum's nonprofit organization, the Operation Good Neighbor Foundation, in 2002 - the same year the mortgage was granted.
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While we are on the topic of Operation Good Neighbor, here is some more news on Ricky' little charity. Sounds like it was more of a personal savings account than anything....
Operation Good Neighbor donated about 40% of what it spent. The BBB says such groups should allocate 65%.
By Kimberly Hefling
Associated Press
WASHINGTON - Sen. Rick Santorum's charity donated about 40 percent of the $1.25 million it spent during a four-year period - well below Better Business Bureau standards - paying out the rest for overhead, including several hundred thousand dollars to campaign aides on the charity payroll, records show.
The charity, Operation Good Neighbor, provides grants to small nonprofit groups, many of them religious.
The Better Business Bureau's Wise Giving Alliance says charitable organizations should spend at least 65 percent of their total expenses on program activities.
Posted by mardenhill 2/27/2006 08:47:00 AM
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