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June 16, 2009 10:04 PM UTC

Behind the GOP spin: NorCo Dems tackle NFB

  • 4 Comments
  • by: twas brillig

( – promoted by Colorado Pols)

In mid-May I diaried on the Markey-Udall-Bennet effort to secure TARP money for farmers and ranchers left high and dry by the New Frontier Bank collapse. With yesterday’s ludicrous and spiteful misrepresentations by State Rep. B.J. Nikkel laughed down, it looks like once again Northern Colorado’s federal legislators are continuing to poke the national government to come up with solutions in the aftermath of the NFB collapse.

The Fort Collins Coloradoan says:

Colorado representatives are appealing to the Small Business Association, or SBA, to dedicate tools from the American Recovery and Reinvestment Act, or ARRA, and Toxic Asset Relief Program, or TARP, to extend credit for Colorado businesses impacted by the closure of New Frontier Bank.

U.S. Senators Michael Bennet and Mark Udall, and Congresswoman Betsy Markey in the form of a letter urged the SBA to guarantee certain loans and temporally eliminate fees for borrowers and lenders.

This is all in addition to bringing US Ag Secretary Tom Vilsack to visit face-to-face with affected farmers, knocking some sense into the FDIC, chasing TARP money for farmers, working to free up over a quarter billion in loan money from the federal government, and now chasing ARPA money as well–all widely reported events.

The only activism we’ve seen from state legislators thus far is Scott Renfroe’s plea for a taxpayer-financed bailout. So perhaps a list of Rep. Nikkel’s accomplishments on the NFB issue is soon forthcoming (or even Marilyn Musgrave’s).  

Comments

4 thoughts on “Behind the GOP spin: NorCo Dems tackle NFB

  1. After reading Rep. Nikkel’s comments in the Berthoud Recorder, she essentially said Markey did “too little too late” regarding New Frontier Bank Collapse and that she only did something AFTER it collapsed (the big photo op with the Sec. of Ag comes to mind).  It seems to me, Rep. Nikkel simply expressed an opinion – I see nothing “spiteful” in what she said.  Last time I check, we are all free to give our opinions without being attacked by OTHER partisans who simply want to protect Markey since she’s in a precarious position for re-election.        

    And, apparently, the Coloradoan editors disagree about Nikkel, too.  The following article talks about her ability to work with both sides and cites her effectiveness at the capitol this year… See

    http://www.coloradoan.com/arti…  

    1. Although I’ll take your attempt to walk this one back as a good sign. Here is what B.J. Nikkel wrote in the Berthoud Recorder:

      U.S. Senators Michael Bennet and Mark Udall, along with Representative Betsy Markey, have been largely absent, ignoring this crisis for far too long. Unfortunately for Coloradans, Governor Bill Ritter has also been missing in action.

      That is a broad, sweeping claim that the officials she calls out have done nothing on the NFB issue. The evidence (see post above) belies her absurd claims. And it is very different from your statement about what Nikkel wrote.

      And I’m not sure how making the country’s Ag Secretary available to local farmers, who then secures a quarter billion dollars in credit for said farmers, is just a “photo op.” That’s a cheap and resentful Republican talking point which is an insult to any agricultural community; they know that engagement with elected officials is crucial their livelihoods. You clearly have no experience with rural town halls.  

  2. Maybe because it doesn’t support all your own partisan claims of Markey being a Savior to the 4th CD… Maybe the Dems are being a little beyond defensive on this topic and actually have something to feel guilty about – not helped until the collapse actually happened.  Where were they before???

    The REST of the story in the Coloradoan said:  “Tina Gasner, owner of Brick Oven Pizza, 3050 67th Ave., in Greeley took out a $260,000 loan from New Frontier to start her business. But when the economy started to crumble, she restructured the loan early this year. Shortly after that, New Frontier closed, and Gasner has been left without a line of credit.

    She has tried other banks and has been turned down…Now she is facing losing not only her business but her home, too.  “Everything we had pretty much is gone,” she said. “Honestly, we are having a really tough time.”

    Gasner is excluded from any of the possible benefits the letter proposes because she doesn’t have a bank to lend to her.  “Unless they are going to do something today, there is no help,” Gasner said of the letter to the SBA.”  (end of story)

    Seems to me that these banks aren’t going to lend to these people and bail them out when they can buy the properties themselves on the cheap at the auction this fall, resell and make big profits.

    1. to nanny state NFB and protect it from itself and its poor decisions.  Let the free market rule !  Down with socialism !  Palin 2012 !

      C’mon dude, stick to the playbook !

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