Why did Federal Savings Bank Chairman, Steve Calk

want a position as Secretary of Treasury or Housing and Urban Development? Besides the prestige of being a Cabinet member, what power and ability to profit would be derived from this appointment? Any ideas?

"Brennan, who testified under a grand of immunity from prosecution, told the federal court jury that the bank raised serious concerns about Manafort’s misstatements of income, credit card delinquency and his failure to disclose existing mortgages on at least two properties as part of his 2016 loan applications.

In addition, Brennan (Vice President Federal Savings Bank) said a member of the bank’s own credit committee objected to Manafort’s application, only to be overruled by Calk, the bank's chief executive officer.

The loans were approved, Brennan testified, “because Mr. Calk wanted it to close.”

Last week, a former bank official testified that Calk had been in discussions with Manafort about a job, including considerations for a Cabinet post as secretary of the Treasury or Housing and Urban Development."
https://www.usatoday.com/story/news/politics/2018/08/13/paul-manafort-trial-prosecution-rests/981936002/

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4 replies	Author	Time	Post
Why did Federal Savings Bank Chairman, Steve Calk (Original post)	sagesnow	Aug 2018	OP
To change regulations. NT	mahatmakanejeeves	Aug 2018	#1
the financial reward comes post government service	lapfog_1	Aug 2018	#2
Bingo. Once you have held one of those positions you are set	Lee-Lee	Aug 2018	#3
Do they use "tier level pricing"?	Cracklin Charlie	Aug 2018	#4

Response to sagesnow (Original post)

Tue Aug 14, 2018, 12:59 PM

mahatmakanejeeves (51,044 posts)

1. To change regulations. NT

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Response to sagesnow (Original post)

Tue Aug 14, 2018, 01:02 PM

lapfog_1 (27,584 posts)

2. the financial reward comes post government service

your calls to the very rich get returned if you are "former Secretary or former Ambassador X" (especially Sec State and Sec Treasury)

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Response to lapfog_1 (Reply #2)

Tue Aug 14, 2018, 01:10 PM

Lee-Lee (6,324 posts)

3. Bingo. Once you have held one of those positions you are set

You will be paid very well just to sit on corporate boards where you show up for meetings a few days a year and make huge money for not much. Same for “consulting” work, paid speaking work, and on paper only “partnerships” where your name is listed as part of a business or project just to add prestige or legitimacy to it.

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Response to sagesnow (Original post)

Tue Aug 14, 2018, 01:19 PM

Cracklin Charlie (12,725 posts)

4. Do they use "tier level pricing"?

Like, say, a cabinet secretary position could cost millions to obtain, but an ambassador or agency chair could be had for only a few hundred thou.

People so nasty, stankin up our White House with their filthy grifting obcession.

Get out, none of you belong there!

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