UPDATE #2 - The Debbie Wasserman Schultz Led Democratic National Committee owes at least $8 Million to SEIU Owned Bank

Will Profit here. I have always believed the financial relationship between the Dems and SEIU as being that of a loan shark collecting vig payments from a schmuck, grateful not to be knee capped as long as his/her payments are ALWAYS on time. Now it has become one for the books as a case study in the annals of political financial incest.
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The Democratic National Committee (DNC) owes at least $8 million to a bank owned by one of the largest unions in the country, according to the committee’s most recent financial report.

The DNC initiated an $8 million loan with the Amalgamated Bank of New York on Aug. 10, the report shows, accounting for the majority of the committee’s overall debt of $11 million.

Amalgamated Bank, often described as “America’s Labor Bank,” is a national entity, the majority of which is owned by the Service Employees International Union (SEIU), a politically active union with deep ties to the Democratic Party. The SEIU is also involved with the Democracy Alliance, a shadowy group of wealthy left-wing donors founded by billionaire investor George Soros.

The bank announced in an August press release that the DNC had “moved its primary banking relationship” to Amalgamated Bank, which would handle the committee’s “day-to-day banking needs.”...READ MORE

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UPDATE #1 - 5:00 CDT:   A little anonymous birdie tells Capitalist Preservation there may be a money laundering angle to this sordid story. And my little anonymous Birdie is in a position to know.

Ongoing investigation..they shift money between banks reloaning out to other "groups". Keeping it in the "family".

I'm taking this to be a rumor. And will continue to do so unless facts become available proving it to be true.

We will update this post if more information becomes available.

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UPDATE #2 8:00pm CDT - Our source tells us, "The Beacon article is the first to name the associations between SEIU, Soros and DNC, besides GB. You need to look at DWS husbands 'small bank."

 Steve Schultz is vice president of commercial lending at Community Bank of Broward.

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By Correctamundo: 

Check these past revelations:

DWS' luxury cars and growing net worth raises questions 

What is DWS hiding? 

DWS hides property using name Deborah Schultz


Middle class DWS took $30k vacation, owns 2nd home in NH

Draw your own conclusions. And don't forget her hubby works at Community Bank of Broward.. And she's got some Swiss Bank accounts as well. She sounds very middle class doesn't she?