Rep. Paul Broun criticizes federal government for saving depositors at failed bank he co-owned

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GOP Rep. Paul Broun criticizes federal government for saving depositors at failed bank he co-owned.
http://thinkprogress.org/2010/06/25/paul-broun-failed-bank/

One of Rep. Paul Broun’s (R-GA) most frequent targets is the federal government, which he has in the past claimed is going to kill people by passing comprehensive health care reform and clean energy legislation. Now, the Atlanta Journal Constitution has discovered that Broun “was a part-owner of a bank” started by his brother that failed in March and had to be taken over by the FDIC to protect its depositors, meaning that the very same federal government the congressman demonizes was forced to save his failing business and its customers. Asked for comment by the paper, Broun attacked the federal government, saying that it’s “totally wrong” for the government to be taking over failed banks like his and protecting the depositors:

But after an Atlanta Journal-Constitution examination of congressional financial disclosure forms revealed that Broun was an investor in the (failed) bank, the Republican congressman from Athens had a very strong opinion about who’s to blame: the federal government. “The federal government is closing these banks down when there is absolutely no reason to do so,” he said. “It’s just totally wrong.”

State and federal regulators on March 26 shut down four-branch McIntosh Commercial and sold its assets to West Point, Ga.-based CharterBank after determining McIntosh was insolvent and unable to pay its debts. The bank, founded in 2002, lost $28 million over the past two years and had $88 million in troubled loans on its books. The failure was expected to cost the federal Deposit Insurance Fund more than $123 million.

“Sheila Bair (the FDIC's chairman) and the FDIC that’s forcing all of this, under the direction of this administration, needs to back off and let community banks do what they should be doing,” (Broun)said.

[CurtEastPoint]

1. Yet another brilliant proclamation from one of GA's biggest Republican dildos.

or is it dildoes?

[Angry Dragon]

2. If these people want to run for Congress

then they need to divest themselves before they run. It would show the people that they are honest and
no conflict of interest.

Never happen because they want their cake and eat it too.
They want all the cake and maybe, just maybe, they may let you lick the plate and maybe give you some crumbs.