Republican Party of Virginia Beach :: Politics By the Shore

Where’d the bailout money go? Shhhh, it’s a secret

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Dec 22, 9:52 AM (ET)

By MATT APUZZO

WASHINGTON (AP) - It’s something any bank would demand to know before handing out a loan: Where’s the money going?

But after receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending the money or they simply refuse to discuss it.

“We’ve lent some of it. We’ve not lent some of it. We’ve not given any accounting of, ‘Here’s how we’re doing it,’” said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. “We have not disclosed that to the public. We’re declining to.”

The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what’s the plan for the rest?

None of the banks provided specific answers.

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By John Warren
The Virginian-Pilot
© December 12, 2008

VIRGINIA BEACH

With two weeks until Christmas and a $150 balance on her daughters’ winter coats, Chalese Adams was feeling the stress.

“My due date was the 14th,” she said of the 30-day layaway.

A late-night phone caller Wednesday told her to come to Burlington Coat Factory on Thursday and collect the two ankle-length wool coats. No charge. A benefactor was paying for all children’s coats on layaway, the caller said.

Adams and a handful of others arrived Thursday around noon, skeptical but hopeful.

“I still don’t believe it until I see it,” said Tremaine Fleming, a Virginia Beach barber who had a $300 balance on coats for his three children.

The benefactor, Beach attorney Gary Byler, greeted them at the store around noon.

He gave the coats through a foundation he created to honor his wife, Jennifer, and oldest daughter, Sarah, who died in a boating accident seven years ago.

“I did this here because I think they cater to the working class side,” Byler said. “My main idea was to target toward the deserving.”

Byler wrote a check for $1,136.82 on Thursday. At the Burlington Coat Factory’s Military Highway store, which has $3,000 in children’s coats on layaway, Byler said he’ll match the first $1,000 donated.

Anissia Hines of Virginia Beach said her 5-year-old daughter was just getting by with her old coat: “It’s a little thin.”

“When the kids grow out of coats, I always donate their old ones,” she said. “This is definitely karma.”

John Warren, (757) 222-5114, john.warren@pilotonline.com

Congratulations to Barry Knight for winning this Saturday’s nomination canvass for the 81st District House of Delegates. Not only did he win, but he won with over 1,000 votes and more than doubled Paul Lanteigne, his nearest competitor. Getting that many people to vote in a special election 2 days after Thanksgiving is very impressive and deserves commendation.

(I have yet to recieve word of official results, but as soon as I have them they will be posted)

The Republican Party Nomination Canvass will be held on November 29th at the following 3 locations from 10am to 3pm

a. Back Bay Christian Assembly, 1212 Princes Anne Rd., for qualified voters residing in the Blackwater, Creeds, and Capps Shop Precincts of Virginia Beach.

b. The Village at Rainbow Station 1973 Sandbridge Rd. Va. Beach, VA 23456., for qualified voters residing in the Corporate Landing, Culver, Magic Hollow, Ocean Lakes, Red Wing, Seatack, Sigma, and Upton precincts of Virginia Beach.

c. Grassfield High School 2007 Grizzly Trail Chesapeake, VA 23323 for qualified voters residing in the Bells Mill 1, Bethel, Grassfield, Green Sea, and Indian Creek precincts of Chesapeake.

Three Candidates will appear on the ballot:

Paul Lanteigne - Our current Virginia Beach Sheriff and former City Council and School Board member. His website is http://www.paullanteigne.com/

Barry Knight - Former VB Planning Commissioner and hugely successful farmer who runs the largest independent hog farm in Virginia. Endorsed by former 81st Delegate and now registered lobbyist Terry Suit, U.S. Rep. Thelma Drake, Del. Bob Purkey and Shirley Forbes, wife of U.S. Rep. Randy Forbes. His website is www.barrydknight.com

Tom Keeley - Former Commanding Officer of NAS Oceana and the Navy’s largest school. Tom has been endorsed by Councilman Bob Dyer, Former Councilman and Mayoral Candidate John Moss, Fmr. Navy Seal and Mayoral Candidate Scott Taylor, and Fmr. Admirals Venzke and Dunleavy. Click each persons name for a link to a video of their endorsement and click Tom’s name to see video of him speaking. Tom’s formal website is www.tomkeeley.org

The Virginian-Pilot
© November 25, 2008

Staff Editorial

One more time this year, Republican voters in southern Virginia Beach and Chesapeake should take the time to cast a ballot.

Not because Saturday’s canvass for a seat in the House of Delegates will be anything like Nov. 4. In fact, in some ways, it’ll be just the opposite: a dismal turnout and scant enthusiasm for a little-known special election. But when Republicans in District 81 gather in three places Saturday to choose their nominee to replace Terrie Suit, they’ll see strong contenders on the list:

- Tom Keeley, a straight shooter who held Virginia Beach’s feet to the fire on encroachment issues as chief executive officer of Virginia Beach’s largest employer, Oceana Naval Air Station. Keeley, a former commanding officer known for strategic thinking, now wants to go to Richmond to tackle transportation and budget issues.

- Virginia Beach Sheriff Paul Lanteigne, whose problem-solving background on the police force, School Board, City Council and state Lottery board would immediately make him a go-to delegate. Lanteigne, sheriff since 2000, led his office to earn accreditation, and under his leadership, the jail has become known as one of the best places to work in Hampton Roads.

- Barry Knight, a hog farmer in Pungo and member and former chairman of the Virginia Beach Planning Commission. He has the blessing of Suit and other Republican Party leaders.

Suit, who was elected in the Republican-leaning district in 1999, resigned her seat in October to take a lobbying job with a law firm. The special election is slated for Jan. 6. Democrats have until Dec. 8 to file to run for the seat. Jeff Dente, a Virginia Beach Realtor and property manager, is running as an independent.

Given the presidential and congressional election results, it would be easy to write off Republicans this year. But anyone who fears the party has no future need only look at this primary to see reason for hope.

The Republican Party Nomination Canvass will be held on November 29th at the following 3 locations

  
  a. Back Bay Christian Assembly, 1212 Princes Anne Rd., for qualified voters residing in the Blackwater, Creeds, and Capps Shop Precincts of Virginia Beach.

      b. The Village at Rainbow Station 1973 Sandbridge Rd. Va. Beach, VA 23456., for qualified voters residing in the Corporate Landing Culver, Magic Hollow, Ocean Lakes, Redwing, Seatack, Sigma, and Upton precincts of Virginia Beach.

      c. Grassfield High School 2007 Grizzly Trail Chesapeake, VA 23323 for qualified voters residing in the Bells Mill 1, Bethel, Grassfield, Green Sea, and Indian Creek precincts of Chesapeake.
 

Tom Keeley and Barry Knight will be attending a candidates forum this Saturday at the Republican Party Breakfast. Do your research and be sure not to miss it. 

Bailout Lacks Oversight Despite Billions Pledged
Watchdog Panel Is Empty; Report Is Unfinished

By Amit R. Paley
Washington Post Staff Writer
Thursday, November 13, 2008; A01

 

In the six weeks since lawmakers approved the Treasury’s massive bailout of financial firms, the government has poured money into the country’s largest banks, recruited smaller banks into the program and repeatedly widened its scope to cover yet other types of businesses, from insurers to consumer lenders.

Along the way, the Bush administration has committed $290 billion of the $700 billion rescue package.

Yet for all this activity, no formal action has been taken to fill the independent oversight posts established by Congress when it approved the bailout to prevent corruption and government waste. Nor has the first monitoring report required by lawmakers been completed, though the initial deadline has passed.

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Fed Defies Transparency Aim in Refusal to Disclose (Update2) 

By Mark Pittman, Bob Ivry and Alison Fitzgerald

 

 

Nov. 10 (Bloomberg) — The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

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Last nights City Committee meeting was one of our biggest ever. So many new people joined that we ran out of nomination forms. Let us keep the momentum rolling and make sure we get all those people to the breakfast this Saturday.