In March NLPC reported that Duke Energy guaranteed a $10 million loan to the Democratic National Committee to host its 2012 convention in Charlotte, NC – the utility’s hometown. Now Duke CEO James Rogers – who heads the fundraising effort as co-chair of the DNC host committee for the convention – is silent about how much money has been brought in so far.
Well, the second-largest banking city in the nation won the rights to host the Democratic National Convention in 2012, so you think the big TARP beneficiaries based in Charlotte might be the ones to step up to guarantee the funds for DNC to do its thing. You know, maybe Bank of America, which is the largest financial institution by assets in the country. Or Wachovia, now Wells Fargo, which has a lot of civic pride and survived thanks to the government intervention.
Submitted by NLPC Staff on Wed, 05/13/2009 - 14:15
This 48-page monograph was written by NLPC President Peter Flaherty and NLPC Director of Policy John Carlisle. First published in 2004, it was extensively updated in 2008. NLPC recently gave permission to Cengage Learning to reprint pages 18-20 in a forthcoming book titled Global Viewpoints: Slavery.