Word: kuciniches
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...Kucinich is really 32 and has a "lovely wife" in the best political tradition. He can't help being baby-faced and short. Nor is he responsible for the school board president's mooning from a car on the highway. Likewise, the mayor had no way of knowing that the day he made a symbolic bank withdrawal that his disturbed brother would rob another bank. But the most important spectacle for which Kucinich has been unfairly blamed is the financial collapse of the city of Cleveland...
...previous mayor, Ralph J. Park, left the city's books in an exemplary mess. Park mixed into one simmering municipal slush fund the city's taxes, federal grants and special-purpose bond and note revenues. Hs financial methods have prompted an investigation by the Securities and Exchange Commission. Kucinich alleges that Park illegally spent bond revenue on general operations while the banks looked the other way and handed out money to cover the growing deficit. Park won their cooperation with business-oriented policies, including major tax cuts establishing a "free trade zone" for banks and large businesses. To keep...
...banks were not as pliant with the new mayor. Kucinich opposed tax abatements and the sale of the city's most valuable remaining asset, the publicly owned electric company...
When the city needed to refinance $15 million in debt last December he offered the leading bank, Cleveland Trust, full collateral in the form of income taxes and city property, and a private investor agreed to underwrite the city's debt. The bank turned down these offers. Kucinich charges that at a private meeting he likens to a "street mugging," the chairman of Cleveland Trust made extension of credit conditional on the sale of the city-owned electric company to its private competitor. According to the mayor, the proposed sale called for the private company to pay the city about...
...their meeting. But minutes of a Cleveland Trust meeting the same day also suggest the sale of Muny Light was a condition for renewing the city's notes. At a hearing held by a House Banking Subcommittee, Weir conceded Cleveland Trust's lending policies toward the city under Kucinich differed from those applied under his predecessor, Perk. Weir attributed the difference to Kucinich's rudeness; in particular, he mentioned the mayor's public characterization of him as a "blood-sucking vampire...