Home > inspector-general, walpin > Walpin, Stephen Goldsmith, Americorps, and CapitalSource

Walpin, Stephen Goldsmith, Americorps, and CapitalSource


I was wondering why Republican and former mayor of
Indianapolis Stephen Goldsmith strongly supports the apparently
indefensible firing of inspector-general Walpin of Americorps for
inspecting too vigorously. It turns out Goldsmith is a director of
a medium-sized bank, CapitalSource, that was unwise enough to
open a big California operation in the summer of 2008. Over the
year its stock price crashed from $15 per share to 90 cents per
share in early 2009 before coming back up to $4 per share in
June 2009. Just on the basis of that, I would guess that the bank
is hanging by a thread, and it’s a thread made of TARP money [No–see comment below. CS has not received TARP money. But it is still vulnerable to regulators.]
that President Obama could cut any time he wants. So we
cannot regard Mr. Goldsmith as being an entirely independent
actor.

  1. PDF
    slides
    from the company itself on Capital Source’s
    financial health. I don’t know how to interpret these, but they do
    give information on loan loss provisions and the percentage of
    loans that are currently in default.

  2. Monday, May 14, 2007 Former
    Indianapolis mayor joins CapitalSource
    “Stephen
    Goldsmith, who served two terms as mayor of Indianapolis, has
    been named director of CapitalSource Inc.’s newly created
    infrastructure finance and investment group.”

  3. CapitalSource Bank Opens 22
    California Branches Mon Jul 28, 2008

  4. My earlier blogpost detailing the firing, with 4 very good links to primary documents. http://rasmusen1.blogspot.com/2009/06/obama-fires-americorps-inspector.html

Nov. 18. I’m adding info on all the board members. The government list is here. This could tarnish all their reputations. Eric J. Tanenblatt is the one to wonder about. Will he speak up? He would be very important whichever side he takes.

  1. Alan D. Solomont, Chair. Democrat.
  2. Stephen Goldsmith, Vice Chair. Republican former mayor
    of Indianapolis.

  3. Mark_Gearan,
    .Clinton’s Deputy Chief of Staff and Peace Corps
    Director.

  4. Hyepin
    Im
    . Obama appointed.

  5. Julie
    Cummings

    (appointed in 2007).
    Donated to Repu and Dem incumbents both, up to 2002. Then
    no more donations. Her husband, a Florida real estate developer,
    donated to Bush in 2004 and
    to Romney in 2007, but not to McCain. He has his own private
    company.
    (Julie Cummings
    contributions)

  6. James (Jim) Palmer.
    Bush appointed. $250 to Tom Feeney (R, Flor. in 2005).
    Orange County Republican, owns an electric car, Christian, runs a
    soup kitchen.


  7. Stan Z. Soloway
    Bush appointed. Hillary Clinton donor.
    President and CEO of the Professional Services Council, the
    principal national trade association of the government
    professional and technical services industry.

  8. Eric J. Tanenblatt the partisan and strong Georgia
    Republican Senior Managing Director (not a lawyer) at a big law
    firm in Atlanta. Donated to McCain, Romney. Appears to be in
    no way an Obama stooge.

  9. Laysha Ward, Obama
    donor. Ward, 40, began her career at Target Corporation in 1991
    as stores
    sales leader for Dayton’s department store and was named vice
    president of Community Relations and Target Foundation in
    2003.
Categories: inspector-general, walpin Tags:
  1. September 4th, 2019 at 02:12 | #1

    This text is worth everyone’s attention. How can I
    find out more?

  2. Anonymous
    June 23rd, 2009 at 09:06 | #2

    CapitalSource has not received any TARP funds. It bought a bankrupt bank, essentially for nothing. The holding company does have some problem loans, however.

  1. No trackbacks yet.