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I keep hearing campaign announcements against Pat Toomey that mention a bank he started then sold for very big $$$$$$ after he/it stiffed homeowners in the r. e. bubble. Was this a local bank, meaning PA, or elsewhere and what was it's name?
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“Bank Toomey founded to become Pennsylvania flashpoint,” by Campaign Pro’s Kevin Robillard: “Wall Street ties have ... played an especially big role in Pennsylvania’s key Senate race, where Democrats have portrayed GOP Sen. Pat Toomey as too close an ally of banks and Wall Street — and where Toomey’s ties to the industry also include a major financial stake in a small bank he cofounded. While sitting on the Senate Banking Committee, Toomey owned between $500,001 and $1 million in stock in Team Capital Bank, from 2010 to 2014. His ownership of the bank, while little discussed so far, looks set to become a focal point of Democratic attacks in the final weeks of his reelection run. The bank also used a controversial foreclosure method called a 'confession of judgment' to foreclose on at least 21 homes in the state that were used as collateral by small business owners, even as Toomey fought against consumer protections for mortgages in the Senate, repeatedly opposing the Consumer Financial Protection Bureau.”
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At the final PA Senate debate earlier this week (in which Kate McGinty performed much better) he said the commercial that talked about the "stiffing homeowners" commercial was pulled from the air due to being untrue.
I saw that commercial a couple more times after the debate, but not since.
I really don't know what it's about.
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So the name of the bank was Team Capital Bank? Is it still in operation and under that same name?
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The cost of this Senate contest is postively obscene: $118.5 MILLION according to an article today in
I work for a non-profit which offers direct aid to the poor, and, whenever possible, tries to offer a hand up rather than just a handout.
One of our best hand-ups are $80.00 vouchers for work shoes--steel toed boots, uniform shoes, etc, for the working poor who need them in order to better their lives.
We blew the budget on shoe vouchers for this month, and there are still a few days to go. Really blew it.
Do you realize how many work shoes could be bought for just one lousy percent of that obscene campaign cost?
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1481 vouchers at $80 each.
That could last us 3 to 4 years.