Controversy over Reliance Bancshares, Inconsistent Response
Spence served on the board of directors for Reliance Bancshares, which he resigned fromin March 2011. While he served on the board, the bank accepted $42 million from TARP.Just before his resignation; the company announced that it would not be paying the Treasury a $2.2 million annual dividend that was required in order to pay back taxpayers this was to be the bank’s first payment. When asked by the AP, he said that he couldn’t recall the decision to stop paying, but he told PoliticMO that he resigned from the bank’s board because of their decision to suspend payments. However, in an SEC filing the bank said that his resignation was not due to any disagreement.
Statement issued: Effective March 11, 2011, Jerry S. Von Rohr resigned as Chairman of theBoard of Registrant, but he continues as a member of the Board of Directors. EffectiveMarch 15, 2011 David R. Spence resigned as a Director of Registrant. Their resignations are not related to any disagreements with Registrant’s operations, policies or practices.
Between December 31, 2009, and December 31, 2010, Reliance Bancshares made $21,041,439 in loans to executive officers and directors or to benefit officers and directors. This is equal to approximately half the money they received through TARP.
Between December 31, 2009, and December 31, 2010, Reliance Bancshares made $21,041,439 in loans to executive officers and directors or to benefit officers and directors. This is equal to approximately half the money they received through TARP.
In fall 2010, Spence bought 500,000 shares of Reliance stock for $1.5 million. On the proxy statement filed with the SEC on 3/25/11 by Reliance, David R. Spence is listed as receiving $10,250 for his services on the Board of Directors. On the proxy statement filed 4/1/10, Spence is listed as receiving $2,000 for his services. Courtesy of http://www.scribd.com/doc/73952082/Dave-Spence-Research-Part-1
Our addition:
 |
| Millionaire Dave Spence: He approved TARP bailout for a bank he ran, benefited from it, and has been caught lying about why he resigned when his bank refused to pay back American taxpayers. He is a hypocrite. Is this the kind of man we want to be the next governor of Missouri? |
 |
Dave Spence's $8,000,000 Home in St. Louis. Can you afford to elect him next Governor of Missouri? You lost your job, home, health care, retirement etc or squeaking by! Is Spence the man you want in the Governor's mansion during this economic crisis? The man who is blessed with such immense wealth vows to take away the rights of the police, firefighters, nurses, teachers, sanitation workers you name it once he is elected Missouri Governor! He will go after the middle class and the poor! He will be as heartless as Gov. Walker of Wisconsin and Kasick of Ohio! He will create wealth for the upper 1% at the expense of the rest 99% of us! He wants to use his wealth and that of his opulent friends to buy into the governor's office and devastate the middle class and those that are most vulnerable. Why are wealthy Americans like Dave Spence greedy and heartless? Does Dave Spence have any other skeletons in his closet other than the TARP scandal? |
Elect me so that I can take away the rights of the police and
firefighters who protect us, nurses who treat us, teachers who
educate our children, sanitation workers who ensure we live
in clean environment you name it! Don't Worry Be Happy!
my first executive order of business is give millionaires and
billionaires a tax break because I strongly believe in
"Trickle-Down" Economics! I'll care for the top 1% and
the rest of you the ninety-niners (99%) can take a hike!
SHAME MILLIONAIRE SPENCE! SHAME! SHAME MILLIONAIRE SPENCE! SHAME!
No comments:
Post a Comment