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posted by Gunpowder Chronicle on Monday, June 18 2007 @ 8:21 AM
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Has anyone realized the new $111 million financing package to help subprime lenders proposed by Marty the Mick O'Malley?  I think there are some interesting aspects here that should be investigated.

You see, the package proposal comes no too long after the stockholders at 1st Mariner Bank got the bad news that their hero, Ed Hale, had screwed the puppy with his over-agressive lending practices.  So much so that the company lost a good boatload of money, which prompted the board of directors to really put the screws to old Eddie.  As a result, 1st Mariner has laid off as many as 50 as of Friday (didn't read about that in the Calvert Street Communist Party Newsletter, did ya?).

Ask yourself, who is Marty the Mick's money man?  Yup, that's right, Ed Hale.  The same Ed Hale that used his influence with the IWIF board to get Marty's father-in-law a no-show job at that den of iniquity and corruption.  The same Ed Hale that turned his branches into massive billboard for Marty The Mick during the last election.

Who is the chairman of 1st Mariner Bankcorp?  Ed Hale.  Who benefits from the state helping subprime lenders -- who had NO BUSINESS borrowing money for homes with ridiculous ARMs and no money down -- the most?  1st Mariner Bankcorp and Ed Hale.

You want corruption in the State House?  I think you've got it.

This article tagged under: Maryland Politics

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