Friday, February 24, 2006
Ameriquest Mortgage Co. Monday announced it would pay $325 million to resolve a 49-state inquiry into alleged predatory lending practices, clearing the way for Senate Democrats to drop their objections to Ameriquest founder Roland Arnall's ambassadorial nomination.Why?
The Foreign Relations Committee deadlocked in October on the White House's bid to tap Arnall as ambassador to the Netherlands after Sen. Chuck Hagel (R-Neb.) cast a surprising vote with Democrats. Hagel indicated he would wait to sign off on Arnall until the "cloud of investigation" hanging over Ameriquest evaporated.
The Ameriquest settlement, which also requires the company to revamp its loan agreement and appraisal processes, would appear to settle not only Hagel's concerns, but many Democrats' as well.
The man ran a company that preyed upon the poor, and now that his company has paid a fine and promised to behave, this same man is a model of virtue?
This loathsome endoparasite should live a life of perpetual scorn and derision, should be required to carry a bell and a sign that says "unclean" so decent people will avoid his society. Instead, these politicians, both Vichy Democrat and Republican, wish to have him represent us to a foreign country?
He also donated millions to Republicans.