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Rapid City Journal Reports Thune/MetaGate

The Rapid City Journal has a story today about Thune/MetaGate, much like the story on Kelo TV last night. They do have an interesting statement from a Thune spokesman though.

"Thune communications director Kyle Downey said the senator would not respond Thursday to Olson's statement. Downey issued a short statement on Thune's behalf Thursday evening that rejected the implications of any wrongdoing.

While a private citizen, John Thune served on the board of directors for MetaBank with utmost integrity. During this service he was unaware of any legal or financial problems surrounding Nelson's companies,' Downey said. 'To suggest, as some former employees of Sen. Thune's previous political opponent are doing, that John Thune acted improperly are baseless and false. These attacks are part of an ongoing campaign against Sen. Thune.'"

My favorite part of the quote is the part about some former employees of Thune's previous political opponent. They can't even say his name. It's TOM DASCHLE! And not everyone working this story is a former employee of Daschle, as if that matters. Again, like with Greg Belfrage, Sen. Thune and his supporters had no problem with then candidate Thune paying bloggers to hit Daschle and his family, don't forget that, his family, with a daily barrage of attacks while concealing the fact that these guys where being paid by Thune.

Grow up and at least act like a Senator even if you have no idea how to really be a senator.


At 7/08/2005 12:09:00 PM, Anonymous Anonymous said...

Too bad Thune (I can't bear to call him Senator) didn't realize that what goes around comes around.

At 7/08/2005 12:44:00 PM, Anonymous Anonymous said...

A mortgage filed by the bank on 7/1/99 indicates the bank was lending to Nelson long before Thune went on the board on 1/27/03.

At 7/08/2005 01:24:00 PM, Anonymous Chad said...

"anonymous" points out that the bank was lending money before Thune was on the board.

That isn't the important part.

What is important is that the loan docs from October of 2004 show that MetaBank extended Nelson credit while Thune WAS on the board. And it is important because this was AFTER Nelson was under investigation.

The question becomes, did Thune take part in any conversations in board meetings, cast any votes, give any input regarding the extension of credit that was made in October of 2004? If he did, what was that input?

At 8/29/2005 08:02:00 AM, Anonymous Anonymous said...

John Thune was a director of the bank and a member of the audit committee. As such, he was considered a 'control' person of the bank. "Control" persons can face criminal and civil liability under federal securities law for actions the bank took while they were "in control".

Making loans to a bad company in bad shape is a bad idea. It is not in the best interests of shareholders. Thus, anybody who owns MetaBank stock and has lost money on it in the past year or so, can sue John Thune and the rest of the directors for their gross failure of oversight on the bank's operations.

I'd like to see someone file THAT lawsuit!!

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