Category Archives: repayment of loans

>President Obama’s Weekly Address 5/28/11: Vice-President Biden on the American Auto Comeback

>Vice President Joe Biden delivers the Weekly Address, celebrating the success of the American auto industry in the wake of Chrysler paying back their loans.

Leave a comment

Filed under Auto Industry, auto industry bailout, Chrysler, General Motors, President Obama, repayment of loans, the White House, Vice-President Joe Biden, weekly address

NEW CHRISTIE BOMBSHELL-NYT: Christie May Have Gotten Improper Aid

The New York Times – By DAVID M. HALBFINGER

When news broke in August that the former United States attorney, Christopher J. Christie, had lent $46,000 to a top aide in the federal prosecutor’s office, he said he was merely helping a friend in need. He also said the aide, Michele Brown, had done nothing to help his gubernatorial campaign.

But interviews with federal law enforcement officials suggest that Ms. Brown used her position in two significant and possibly improper ways to try to aid Mr. Christie in his run for governor.

In March, when Gov. Jon S. Corzine’s campaign requested public records about Mr. Christie’s tenure as prosecutor, Ms. Brown interceded to oversee the responses to the inquiries, taking over for the staff member who normally oversaw Freedom of Information Act requests, according to federal law enforcement officials in Newark and Washington. The requested information included records about Mr. Christie’s travel and expenses, along with Ms. Brown’s travel records.

In mid-June, when F.B.I. agents and prosecutors gathered to set a date for the arrests of more than 40 targets of a corruption and money-laundering probe, Ms. Brown alone argued for the arrests to be made before July 1. She later told colleagues that she wanted to ensure that the arrests occurred before Mr. Christie’s permanent successor took office, according to three federal law enforcement officials briefed on the conversation, presumably so that Mr. Christie would be given credit for the roundup.

The federal law enforcement officials spoke on condition of anonymity because they were barred from speaking on the record.

Ms. Brown declined to be interviewed for this story. In an e-mail message to The New York Times, she called the allegations “outrageous and inaccurate,” but declined to answer further questions. Through a spokesman, Mr. Christie stood by his earlier assertions that Ms. Brown had not assisted his campaign in any way.

News of Mr. Christie’s loan to Ms. Brown broke in August, dealing a blow to his candidacy, and he apologized for failing to report it on his tax returns and ethics filings.

Less than two weeks later, Justice Department officials told Mr. Christie’s interim replacement, Ralph Marra, to remove Ms. Brown from acting as coordinator of the Freedom of Information Act requests about Mr. Christie’s tenure because of the obvious conflict of interest, according to a federal law enforcement official briefed on the communications. Ms. Brown resigned from the prosecutor’s office the same day, the official said.

She took a job at a law firm with close ties to Mr. Christie — a firm that represented one of five companies identified as targets in his office’s investigation of kickbacks among makers of artificial hips and knees. Ms. Brown had led the case and, with Mr. Christie, negotiated a settlement in which the company paid a fine and avoided criminal charges.

Allegations that Mr. Christie played politics as a prosecutor have dogged him; reports that he discussed a run for governor with Karl Rove in 2006 led Democrats to assert he had violated the Hatch Act, which forbids candidates from “testing the waters” for a run for office.

The possibility that Ms. Brown may have helped Mr. Christie’s campaign from inside the United States attorney’s office casts a new light on their relationship and on the prosecutor’s office. Federal law and Justice Department policy prohibit prosecutors from using their “official authority or influence for the purpose of interfering with or affecting the result of an election.”

The arrests of 44 people in the corruption and money-laundering case on July 23 drew national attention and put a spotlight on New Jersey’s reputation for corruption. Mr. Christie had built his reputation battling public corruption, and the case served to remind voters of his record and underscore that corruption remained a persistent statewide problem, one that could require a new governor to root out.

As it turned out, there was no need to hurry up the corruption arrests to ensure that they would redound to Mr. Christie’s credit: the Obama appointee who replaced him, Paul J. Fishman, was not installed until last Wednesday.

Mr. Christie has said he and his wife are close friends of Ms. Brown and her husband. The couples live a few hundred yards apart in Mendham, N.J.

Read More >>> Here

Leave a comment

Filed under Chris Christie, ethics, Freedom of Information Act, Gov. Jon Corzine, Michele A. Brown, repayment of loans, The New York Times, US Attorneys Office

SEN. MENENDEZ SEEKS ASSURANCES THAT FEDERAL LOAN IS NOT USED TO PROP UP FOREIGN AUTO MAKER

Member of Banking and Finance Committees asks President Obama to require that Chrysler repay TARP loan should Fiat take majority ownership

WASHINGTON – U.S. Senator Robert Menendez (D-NJ) today asked President Barack Obama to institute a policy to prevent auto company rescue funds from going to foreign auto companies. With Italian carmaker Fiat in a deal to purchase 35 percent of Chrysler and with news reports citing the possibility that it could eventually own up to 55 percent of Chrysler, Senator Menendez is asking that Chrysler be required to pay back loans from the Troubled Asset Relief Program should Fiat become the majority owner of the company.

Read Senator Menendez’s letter to President Obama>>>HERE



Leave a comment

Filed under Chrysler, Fiat, foreign auto companies, President Obama, repayment of loans, Senator Bob Menendez, TARP

>SEN. MENENDEZ SEEKS ASSURANCES THAT FEDERAL LOAN IS NOT USED TO PROP UP FOREIGN AUTO MAKER

>Member of Banking and Finance Committees asks President Obama to require that Chrysler repay TARP loan should Fiat take majority ownership

WASHINGTON – U.S. Senator Robert Menendez (D-NJ) today asked President Barack Obama to institute a policy to prevent auto company rescue funds from going to foreign auto companies. With Italian carmaker Fiat in a deal to purchase 35 percent of Chrysler and with news reports citing the possibility that it could eventually own up to 55 percent of Chrysler, Senator Menendez is asking that Chrysler be required to pay back loans from the Troubled Asset Relief Program should Fiat become the majority owner of the company.

Read Senator Menendez’s letter to President Obama>>>HERE



Leave a comment

Filed under Chrysler, Fiat, foreign auto companies, President Obama, repayment of loans, Senator Bob Menendez, TARP