Wednesday, December 17, 2014

McCrory Got a Big Sloppy Wet Kiss from a Crooked Mortgage Lender

This lead paragraph sums it up:
CHARLOTTE — Soon after taking office, North Carolina Gov. Pat McCrory and U.S. Rep. Mark Sanford of South Carolina accepted six-figure stock payouts from an online mortgage broker accused by regulators of deceiving its customers....
Don't you just love the smell of sweetheart deals in the morning?

But this is the "money graph":
In the months after receiving his $171,071 payout of stock from, McCrory appointed the state's banking director and a majority of the banking commissioners who regulate mortgage brokers.
And this:
Some of's payments to McCrory and Sanford weren't publicly disclosed until May 2014, when the company filed its 2013 year-end proxy statement with the U.S. Securities and Exchange Commission.
McCrory is now dodging the press. Soon we'll be hearing about how he's out stepping on toes all over the place.


brotherdoc said...

It will take more than a plate of cookies to calm the opposition over this move.

Anonymous said...

How can this possibly be legal?