Arizona’s very own Barney Frank…Felecia Rotellini

Way back before every American could tell you which house on their block was, or is, a foreclosure. Back when people believed banks were good and owning a home was the epitome’ of the American Dream…there were warnings.  Public warnings, on May 26, 2006 Senator McCain spoke out as part of an effort to prevent the worst economic disaster since the Great Depression.  Barney Frank, the holder of the keys to The House, ignored it.  There were other things to do.  Frank, a liberal Dem, used lots of trick to diminish the importance of those warnings while taking loads of cashola, in one way or another, for his efforts.   

All this while in Arizona, Rotellini was doing her own Barney Frank act, ignoring a very well documented account of fraud from a very well respected source.  She was too busy building her political capital.   

She, like Barney Frank,  was focused on feathering her own nest while thousands of Arizona citizens were losing theirs.

 

 
 
Press releaseFor immediate release

ROTELLINI’S NEGLIGENCE & INACTION LEADS TO PEOPLES’ LOSS IN LIFE SAVINGS

PHOENIX – The Tom Horne for Attorney General campaign has released a video detailing Felecia Rotellini’s negligence as a state banking regulator.  She was warned in a detailed letter in 2006 that Mortgages Limited was engaged in possibly illegal financial activity.  She did nothing, and two years later, in 2008, the warnings proved accurate and Mortgages Limited went bankrupt.  Thousands of Arizonans lost a total of more than a billion dollars because Rotellini sat on her hands when she had the chance to act.  By contrast, Horne has defended Arizona taxpayers, most notably in the Horne v. Flores case in which $300 million was saved because he took action on behalf of the citizens of Arizona.  Rotellini’s record suggests that she does just the opposite.

 Click here to watch the video or go to http://www.youtube.com/watch?v=owj2BXZEpfs.

 Click here to view the warning letter to Rotellini’s Office or go to http://www.electtomhorne.com/mortgages_ltd.pdf.

 

 

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