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View Full Version : Herman Cain Twofer: He was a FED CHAIRMAN *AND* A LOBBYIST




wgadget
09-25-2011, 04:04 PM
From Wiki:

In 1988, Cain and a group of investors bought Godfather's from Pillsbury. Cain continued as CEO until 1996, when he resigned to become CEO of the National Restaurant Association – a trade group and lobby organization for the restaurant industry – where he had previously been chairman concurrently with his role at Godfather's.[10]

Cain became a member of the board of directors to the Federal Reserve Bank of Kansas City in 1992 and served as its chairman from January 1995 to August 1996, when he resigned to become active in national politics.[11] Cain was a 1996 recipient of the Horatio Alger Award.[12]

Cain was on the board of directors of Aquila, Inc. from 1992 to 2008, and also served as a board member for Nabisco, Whirlpool, Reader's Digest, and AGCO, Inc.

RDM
09-25-2011, 08:55 PM
Some investigative work I've done:

It has been released to the public that Herman Cain's economist who helped design the 9-9-9 plan is a financial advisor for Wells Fargo. Well the feds and Wells Fargo have somewhat of a cozy relationship. Check this out:

Treasury Sells Wells Fargo Warrants dated March 24, 2010

The Treasury announced on Friday that it will earn $840 million from the sale of warrants that it obtained as part of its investment in Wells Fargo & Co. (WFC - Analyst Report) through the Troubled Asset Relief Program (TARP) during the height of the financial crisis. In October 2008, Wells Fargo received $25 billion from the bailout fund, which it paid back in December 2009.

Wells Fargo itself bought 70.2 million warrants from the Treasury to purchase its common stock in the auction held by Deutsche Bank Securities. This represents 63.6% of the total 110.3 million outstanding warrants.

The price per warrant was $7.70, though the government had set a minimum bid price of $6.50 per warrant. The transaction is expected to close on or before May 26, 2010.

The holders have the right to purchase one share of common stock for each warrant at an exercise price of $34.01. The warrants will expire on Oct 28, 2018.

Government supported the troubled institutions with $700 billion financial bailout, under which the banks would pay dividends on the fund they received as relief and would also provide the government with warrants. Warrants received by the government act as bonus for saving the banks during the financial crisis. The holder gets the right to purchase common stock at a fixed price for warrants.

The sale of the warrants will end all ties of Wells Fargo to TARP and the company will be freed from various restrictions imposed on the banks.
Article source: http://www.zacks.com/stock/news/34599/Treasury+Sells+Wells+Fargo+Warrants?adid=

RDM
09-25-2011, 09:08 PM
NAACP Hooks Up With Wells Fargo

http://andersonatlarge.typepad.com/andersonlarge/2010/04/naacp-wells-fargo-measuring-the-movement.html

RDM
09-25-2011, 09:21 PM
Republicans cry foul over Democrats accepting corporate cash for convention, despite Obama pledge

Read more: http://dailycaller.com/2011/09/07/republicans-cry-foul-over-democrats-accepting-corporate-cash-for-convention-despite-obama-pledge/#ixzz1Z1c4Q1EH

From the article:
For the upcoming 2012 DNC Convention in Charlotte, the local newspaper reports that Duke Energy’s CEO, Jim Rogers, is already “quietly” raising up to $15 million for the host committee.

Part of that will come from corporate contributions and part of it will come from non-corporate contributions. “Among other things, the money will go toward organizing and hosting events for the expected 35,000 visitors,” the Charleston Observer reports.

Other corporations expected to make large donations to the DNC host committee include Belk Stores and Wells Fargo. Wells Fargo is expected to make an equal contribution to the Republican Party’s equivalent event in Tampa.

Read more: http://dailycaller.com/2011/09/07/republicans-cry-foul-over-democrats-accepting-corporate-cash-for-convention-despite-obama-pledge/#ixzz1Z1cPBR5m