Banker convicted of bribery for plot to land Trump administration job

[Nevilledog]

Link to tweet

Tweet text:
NBC News
@NBCNews
Former Chicago bank executive convicted in scheme to arrange $16M in loans for former Trump campaign chairman Paul Manafort in exchange for a high-level position in the Trump admin.

Banker convicted of bribery for plot to land Trump administration job
Stephen Calk “used the federally-insured bank he ran as his personal piggybank to try and buy himself prestige and power,” Manhattan U.S. Attorney Audrey Strauss said.
nbcnews.com
1:38 PM · Jul 13, 2021

https://www.nbcnews.com/politics/justice-department/banker-convicted-bribery-plot-land-trump-administration-job-n1273866?cid=sm_npd_nn_tw_ma

*snip*

In a scheme that stretched from July 2016 to January 2017, Calk worked to approve multiple high-risk loans for Manafort, who urgently needed them to avoid foreclosure on several properties.

While the loans were pending approval, Calk provided Manafort with a ranked list of positions he desired. At the top were the two head positions at the U.S. Treasury, followed by secretary of Commerce and secretary of Defense. The list also included 19 high-level ambassadorships to countries such as the United Kingdom, France, Germany and Italy.

Manafort received three separate Federal Savings Bank loans in December 2016 and January 2017 for homes in New York City, Virginia and the Hamptons, New York.

As part of his efforts to secure Calk a position in the Trump administration, Manafort emailed Calk’s resume to Jared Kushner. Calk eventually got an interview at Trump Tower, but he was never offered any job within the administration.

*snip*

[MagickMuffin]

1. May Stephen Calk spend everyday in jail thinking ALL that dough and it didn't even pay off

D'oh!

[Hugh_Lebowski]

2. So, what ... Rich White Guy gets 1 year probation and 40 hours of community service?

[Nevilledog]

4. He's looking at up to 30 years. He'll be doing some time.

[Hugh_Lebowski]

7. Yeah, maybe. But only because his employer is pissed at him for enabling bad loans to Manafort

He's not in any trouble because for the attempt to undermine our system of government, because it doesn't seem like there are many such laws being enforced anymore ... unless you're a Democrat at minimum, and preferably a POC.

[Ilsa]

3. Rachel Maddow has covered this crook's story for years now,

I think going back to 2017 or 2018, IIRC. I hope she reports on it tonight. And the Orange Anus isn't in office to pardon him.

[Initech]

5. Is there anything these people do that isn't awful?

[MyOwnPeace]

6. Aw, we was robbed!

Another one of tRump's "only the best" didn't get his chance to get in there and screw somebody over......

[ProfessorGAC]

8. OK, Let's Back Up

The guy was CEO of a bank, but wanted power & prestige? He was the CEO of a bank.
Admittedly, this is a small bank. ($360 million in assets. I was on the board of a community credit union around that size)
Which bring us to question 2:
A $16 million loan, 4.44% of assets to a single borrower, was "solid" as Calk claims?
This tool was going for anything. Ambassador, Sec of Treasury, Sec of Army...
The first question still stands. If he had the power to grant a loan of 4.44% of total assets, he had power.
If he knew people connected to the WH, he had prestige.
Third question: why was he really looking for that maladministration gig?