Democrats Turn Swamp of DC Corruption Into Swimming Pool

The politics of corruption continues and the Democrats are up to their necks in these kinds of arrangements. In fact, as Hot Air notes, Hassan Nemazee makes Norman Hsu look like a small time crook.

Hassan Nemazee, chairman of Nemazee Capital Corp. and a fundraiser for President Barack Obama and Hillary Clinton, was arrested on charges he used phony documents to trick Citigroup Inc. into lending him as much as $74 million.

Nemazee got the loan by telling Citibank he held accounts with hundreds of millions of dollars that could serve as collateral, U.S. Attorney Preet Bharara said today in a statement. The financier used fake addresses and phone numbers controlled by him to mislead the bank, prosecutors said.

The accounts “either never existed or had been closed years before Nemazee submitted the documents referencing those accounts,” Bharara said in the statement.

Nemazee, 59, repaid the loan to Citibank yesterday, a day after he was interviewed by Federal Bureau of Investigation agents, prosecutors said. The interview took place at Newark Liberty International Airport as Nemazee was checking in for a flight to Rome.

In an interesting turn of fate, Nemazee is being represented by Marc Mukasey, who is the son of Michael Mukasey, an Attorney General under President Bush.

So, who is Nemazee? He had some key ties to major Democratic party figures, including three candidates for President: John Kerry, Hillary Clinton, and Barack Obama. He also was involved in the DSCC, which is run by Sen. Chuck Schumer (via Ace of Spades).

For Democrats who claimed that they would drain the swamp of corruption in Washington, we're finding that they haven't so much drained the swamp, but flooded it turning it into a swimming pool for their excess.

In fact, in a related item, Rep. Charles Rangel was caught underreporting assets once again to the tune of $500,000.