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?

Tarryl Clark on Reverse Mortgages

I like that the Senate is putting this stuff up on You Tube!



As we know, Bachmann and her 6th Congressional District have had some pretty significant foreclosure problems. Those of us who actually live in the 6th, knew this before the "breaking news" earlier this week.

We were talking about this more than a year ago...

The foreclosure problems in Wright County are mostly in the northeast portion of the county, up in Otsego and other areas that have experienced significant migration from the Twin Cities.

On a side note, the rumor mill is notably silent on potential opponents for Congresswoman Bachmann in 2010. Any thoughts? Ideas?

Koch doesn't care if you lose your home

Larry Schumacher reported this a few days ago.

Koch noted that she represents much of Wright County, which has seen up to 3 percent of its homes go into foreclosure this year, leading the state.

Nevertheless, the bill is not good for the state as a whole, she said.

"We need to focus on the 97 percent who are still paying their mortgages," she said. "This bill introduces risk for all lenders. It will either tighten credit or increase costs."

Koch said she believes passing the bill will make it more difficult to sell many houses that are up for sale.

How many of Senator Koch's bills benefit the state as a whole? How many only a small portion of the population?

Perhaps the Senator doesn't really read any Wright County newspapers. 9 full pages of foreclosures, 152 total.

One year to "right the ship" does not seem to be overly generous. If it saves a significant portion of foreclosures, it's a good deal.

The housing industry in Wright County has been severely impacted by the "mortgage crisis". Senator Koch wants to do nothing about it...

Another glowing example of leadership.

Bachmann does not understand the rural economy

The Startribune ran a story on Sunday about the growing foreclosure problem in Anoka County.

There were 1,848 foreclosures in Anoka County in 2007, after only 849 in 2006 -- a rise of 117.7 percent, according to HousingLink. Only Carver County's foreclosures grew at a faster rate, but that may be attributed to Carver having had only 119 foreclosures in 2006 and then jumping to 287 last year -- an increase of 141.2 percent, according to HousingLink.

Last week, I was going through the local Herald Journal and Enterprise Dispatch newspapers when I stumbled across an eye opening epidemic.

9 full pages of foreclosure notices for Wright County alone.

152 homes and homeowners "on notice"

About $35 million in home foreclosures in Wright County alone, for Feb-Mar.

The food shelf in Annandale is seeing a significant growth in need in these tough economic times.

"January is by far the biggest month we've had in history," she said.

The food shelf distributed 10,300 pounds of groceries to 132 families that month, then gave out another 8,300 pounds to 112 families in February.

That's a 66 percent increase compared with 11,200 pounds of food given to 142 families in January and February of 2007.

How has Bachmann supported efforts to make our lives better?

Bachmann voted against H.R. 2895, a bill to establish the National Affordable Housing Trust Fund in the Treasury of the United States. It would provide for the construction, rehabilitation, and preservation of decent, safe, and affordable housing for low-income families.

Bachmann voted against H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007.

Bachmann voted against H.R. 1852, Expanding American Home ownership Act of 2007.

Bachmann voted against H.R. 2669, The College Cost Reduction Act of 2007.

Bachmann voted against H.R. 3567, Small Business Investment Expansion Act.

Bachmann voted against H.R. 3963, Children's Health Insurance Program Reauthorization Act.

Bachmann also voted against minimum wage increases.

Bachmann's votes against working and middle class Minnesotans are disturbing.

A close look at Bachmann's FEC report indicates who she really represents.

When you're in bed with the loan, mortgage and banking industry, how can she represent working and middle class Minnesotans?

Bachmann has called Wright County the "epicenter for the Minnesota Republican Party".

With the epidemic of foreclosures in Wright County, I wonder when people will finally figure out they cannot afford to vote Republican in Wright County?