S.C. Republican Ralph Norman Sat on Board of Bank That Accepted Nearly $65 Million in TARP Cash

[rangerrebew]

 S.C. Republican Ralph Norman Sat on Board of Bank That Accepted Nearly $65 Million in TARP Cash
Posted By Natalie Johnson On May 12, 2017 @ 3:17 pm In Politics | No Comments

Former South Carolina state senator Ralph Norman, who is running as the conservative candidate in the state's fifth congressional district, sat on the board of a bank that accepted millions of dollars from the Obama administration's 2008 bailout.

Norman served on South Carolina Bank and Trust Financial Corporation's board of directors in January 2009 when the bank sold $64.8 million in preferred stock and a 10-year warrant to the Treasury Department under its Capital Purchase Program, which was created as part of the federal government's $700 billion bailout.


Article printed from Washington Free Beacon: http://freebeacon.com

URL to article: http://freebeacon.com/politics/s-c-republican-ralph-norman-sat-board-bank-accepted-nearly-65-million-tarp-cash/

[Cripplecreek]

Former South Carolina state senator Ralph Norman, who is running as the conservative candidate in the state's fifth congressional district, sat on the board of a bank that accepted millions of dollars from the Obama administration's 2008 bailout.

TARP was signed into law by Bush.