Mary Kiffmeyer's banking problems

Otsego bank cited for unsound practices

Headlines like this seem to be the rule and not the exception. The story is an interesting one. A local bank that puts Bible phrases on its banking billboard and mixes Christian faith and money.

Riverview Community Bank, an Otsego bank that bet heavily on real estate and was known for mixing Christian faith with finance, has been ordered by federal regulators to clean up its lending practices.

A quick search informs us that this bank is actually owned by former Secretary of State, and current State Representative Mary Kiffmeyer. In fact, Kiffmeyer is not only a director of the Riverview Community Bank, she's the owner.

"Integrity Counts"

Politicians use catchy little phrases like this to define themselves as candidates. Unfortunately for State Representative Mary Kiffmeyer, our former Secretary of State, her catch phrase carries little weight.

Among the many things Kiffmeyer believes in is "limited government". Certainly Kiffmeyer and her "limited government" friends are steaming at the fact that the FDIC had to step in to keep her bank solvent.

So, in light of all the banking industry problems and the foreclosure crisis which is even more problematic in NW Wright County (Otsego, St Michael, Albertville area) I find it disturbing that Kiffmeyer and her bank are, well...dab smack in the middle of all this.

Wright County recently had 23 pages of foreclosures in our local paper.

As the owner and a director of the Riverview Community Bank, Kiffmeyer allowed problematic lending to occur to such a level that the FDIC had to step in?

How can Kiffmeyer effectively represent the people of HD 16B when she can't even run her own business?

A trusted conservative?

There have been rumors out there that Kiffmeyer may be a Lt. Governor or even Governor candidate in 2010.

If find a significant amount of humor in pondering this.

Who would Minnesotans trust with their money? The conservative depiction of a "tax and spend" liberal or an incompetent bank owner?

Olson as an independent?

Oh the possibilities of headlines in this race...

It's been widely rumored that State Representative Mark Olson will run as an independent, having lost the GOP endorsement 2 weeks ago to former Secretary of State Mary Kiffmeyer.

Both the Startribune and St Cloud Times have picked up on this story this weekend.

A three way race in HD 16B is interesting. Kiffmeyer, in a one on one match up with DFL endorsed candidate Steve Andrews, would be considered the favorite. However, with Olson in the mix, the base of GOP votes in 16B becomes severely diluted.

It's a winnable seat for the DFL. Olson's scandal and attempt at an Independent run make those odds much better!

An interview with Andrews will be coming soon!

LIVE: Kiffmeyer v. Olson

v. Corrine Gintz v. Mark Lumley.

Despite their best efforts to keep the endorsing convention quiet, "delegates and special invited guests" per the email I received, the 16B Republicans have an endorsing convention this Saturday.

Checking the Minnesota GOP website, there is no mention of this event on their calendar, even though HD 21B has both a forum and convention listed on the State GOP calendar.

At the HD 16B website, the convention is listed at March 8, 2008 at Salida Depot. We all know that did not happen.

Fear not though, despite the Republicans best efforts to keep this endorsement secret, we have confirmed that the Kiffmeyer v. Olson v. Gintz v. Lumley Battle Royal for the hearts and minds of 16B Republicans will be decided this Saturday, May 3rd, 10 am, at the Salida Depot in Becker.

Perhaps Political Muse will make this event with me, although I seriously doubt we'll be granted admittance into the event.

Why all the secrecy behind this endorsement?

Why no publicity?

Nothing in either of the Sherburne County papers.

Nothing in the SC Times.

I wonder if Congresswoman Bachmann will be there?

Will they adhere to the CD 6 GOP policy of no camera's, video's or court room sketches of their candidates?

We'll know sometime Saturday.