Was this a good time to open the Santa Ana Business Bank?

“Wachovia headlined the series of dismal earnings reports yesterday, saying it would lay off 6,350 employees and leave 4,400 more positions unfilled while posting a record $8.86 billion loss in the second quarter,” according to the Washington Post.  Uh-oh!

In retrospect you have to wonder what Al Amezcua, the Bustamante twins, Mike Metzler, Victoria Betancourt and the other oddballs on the board of the Santa Ana Business Bank were thinking when they opened a new bank – right before all the banks started tanking.

I wonder if they were planning on putting public bond money in their bank?  Amezcua was the co-chair for Measure G, the latest property tax increase from the crooked folks at the Santa Ana Unified School District.  He is running his daughter Valerie for the SAUSD school board in November.  And I am told that the SAUSD will be putting yet another bond on the ballot in November too.

Amezcua himself will be pimping for two new bond measures being put on the ballot by the Rancho Santiago Community College District, where he serves as a board member.  They passed a bond a few years ago but Al and company spent most of the money on the Santiago campus and the Carona Sheriff Training Facility – they ignored Santa Ana College for the most part.  Then they didn’t fire the Santa Ana College president after she got caught building a secret shower in her office and after she got caught having fire alarms turned off rather than fixing the fire alarm system.

But I digress.  The Santa Ana City Clowncil is also going after millions of dollars in OCTA funding for a streetcar system that will link the lame Santa Ana downtown with the lame Garden Grove downtown.  And where will that money be kept?  Hmmm….  Sure enough the guy whose engineering company is involved with the streetcar plan, George Pla, is also a board member of the Santa Ana Business Bank.

What gives?  Are these people really that confident that they can pull the wool over everyone’s eyes?  Or are they prototypical dumb criminals who will eventually get caught red-handed?  Who knows?  But we do know this – right now is a bad time to be in the banking business.

About Admin

"Admin" is just editors Vern Nelson, Greg Diamond, or Ryan Cantor sharing something that they mostly didn't write themselves, but think you should see. Before December 2010, "Admin" may have been former blog owner Art Pedroza.