Sandlers: Liberal 'King and queen of toxic mortgages' (general)

by AC , Monday, May 04, 2009, 18:53

Guess who's riding to rescue of those failing newspapers
'King and queen of toxic mortgages' underwrite 'independent' investigative reporting – with a tilt

Herb & Marion Sandler

Time magazine named the Sandlers in its list of "25 People to Blame for the Financial Crisis." The Sandlers company "offered several ways to back-load your loan and thereby reduce your early payments, with increasing zeal and misleading advertisements," Time reported. Then the Sandlers dealt the company to Wachovia before the subprime loan crisis hit.

Posted: May 03, 2009
9:49 pm Eastern

© 2009 WorldNetDaily

WASHINGTON – With newspapers dropping dead like the flies they once swatted, a new non-profit riding to the rescue with free, ready-made "independent investigative reporting" is accepting money from a billionaire couple with a far-left agenda and dubbed "the king and queen of toxic mortgages."

Herb and Marion Sandler, who sold their Golden West Financial Corp. to Wachovia and nearly bankrupted the buyer with its portfolio of subprime loans, committed $10 million to Pro Publica Inc., the non-profit that promises underwritten hard-hitting investigative journalism that has a "moral force" to newspapers facing cutbacks in staff and elimination of editions.

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Tags:
herb sandler, marion sandler, Wachovia, Golden West Financial Corp