tag:blogger.com,1999:blog-29127973.post4013958259029537199..comments2023-10-27T03:16:03.213-04:00Comments on Burgh Diaspora: Ohio to Blame for National City's DemiseJim Russellhttp://www.blogger.com/profile/13078184665418828961noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-29127973.post-58679947727722001592009-05-12T13:22:00.000-04:002009-05-12T13:22:00.000-04:00"... it was National City, more than any other loc..."... it was National City, more than any other local bank, that fought to stop the City of Cleveland from passing and enforcing a modest predatory lending ordinance that could have headed off a lot of the foreclosure carnage we’ve suffered."<br /><br />Thanks again for the education on this issue. The truth of the matter is even more insidious than I suspected.Jim Russellhttps://www.blogger.com/profile/13078184665418828961noreply@blogger.comtag:blogger.com,1999:blog-29127973.post-83286885836945509472009-05-12T13:10:00.000-04:002009-05-12T13:10:00.000-04:00Bingo. See item five in this post by Bill Callahan...Bingo. See item five in this <A HREF="http://www.callahansclevelanddiary.com/?p=739" REL="nofollow">post by Bill Callahan</A> about the bank takeover.Kevin Leesonhttps://www.blogger.com/profile/01669439594675898826noreply@blogger.comtag:blogger.com,1999:blog-29127973.post-73378338798639136702009-05-12T12:51:00.000-04:002009-05-12T12:51:00.000-04:00$151,000 out of the $400,000 cited? Looks as if Ba...$151,000 out of the $400,000 cited? Looks as if Banc One was the only bank to give more money at $173,238. More than 75% of the total donations between those two.<br /><br />The Cleveland Free Times is clear that the bank lobby trumped local efforts to clamp down on predatory lending. Doesn't exactly paint a flattering picture of the National City leadership and its relationship with Cleveland.Jim Russellhttps://www.blogger.com/profile/13078184665418828961noreply@blogger.comtag:blogger.com,1999:blog-29127973.post-31587908702572676572009-05-12T12:40:00.000-04:002009-05-12T12:40:00.000-04:00I suspect that refers to this report, which says t...I suspect that refers to <A HREF="http://www.ohiocitizen.org/moneypolitics/pre2003/profiles02/run.html" REL="nofollow">this report</A>, which says that National City gave about $151,000. That put them at number 30 in the list of top organizational contributors.Kevin Leesonhttps://www.blogger.com/profile/01669439594675898826noreply@blogger.comtag:blogger.com,1999:blog-29127973.post-74779057404319621422009-05-12T12:22:00.000-04:002009-05-12T12:22:00.000-04:00Kevin:
Thanks for the clarification.
This passag...Kevin:<br /><br />Thanks for the clarification.<br /><br />This passage got my attention:<br /><br />"Between 1999 and 2000, banks alone contributed almost $400,000 to reelection campaigns in the Ohio House and Senate (most of it went to Republicans, with Democrats getting about $50,000), according to campaign finance records compiled by government watchdog Ohio Citizen Action."<br /><br />What was Nat City's role in the lobbying scandal? Are the hands of Cleveland bank executives clean?Jim Russellhttps://www.blogger.com/profile/13078184665418828961noreply@blogger.comtag:blogger.com,1999:blog-29127973.post-7905556866247288492009-05-12T10:45:00.000-04:002009-05-12T10:45:00.000-04:00The politicians in Cleveland and other big cities ...The <A HREF="http://www.dispatch.com/live/content/local_news/stories/2007/12/02/CITYPOL.ART_ART_12-02-07_A13_KJ8KN0K.html" REL="nofollow">politicians in Cleveland</A> and other big cities actually did their jobs. They passed predatory lending legislation, but by 2002, <A HREF="http://www.freetimes.com/stories/15/13/in-plain-sight" REL="nofollow">those laws were wiped out</A> by the Republican-controlled Ohio legislature. It wasn't until 2006 that the legislature <A HREF="http://www.columbusdispatch.com/live/contentbe/dispatch/2006/05/25/20060525-A1-03.html" REL="nofollow">passed a bill</A> regulating the mortgage market.Kevin Leesonhttps://www.blogger.com/profile/01669439594675898826noreply@blogger.com