I am the producer/host of a public access (Olelo) TV show called
"Corruption in Hawaii." I have spent the last 6 years exposing
different aspects of the Hawaii machine. I am also running for a Trustees
position in the Office of Hawaiian Affairs (OHA). I am not well perceived by
either the Democrats or the Republicans.
During the month of August, approximately $6,700.00 was spent advertising a
segment of my show titled, "What does Hawaii’s bank Losses mean to
you?" Bank trust accounts was the focus of the show. The show featured a
guest who described the losses he experienced in his family trust, which was
handled by Pacific Century Financial corp., (formerly Bank of Hawaii). He lost
$1 million, plus $300 thousand in legal fees.
Numerous people called and said that they too, had experienced significant
losses. Last week the public access station pulled the segment of the show.
The next day the CEO of Pacific Century resigned. Two of the board of
directors for the public access station are with the two big banks. I believe
that this is linked to a national scheme to white-wash and cover-up the
"Clinton / Gore link to the Hawaii bank scandal." I hope the
enclosed chart and attachments will help clarify the
situation.
The important points in this story revolve around the fact that Hawaii’s
Democratic machine played a major role in the Chinagate scenario that grew out
of the investigation into illegal foreign campaign fundraising.
The machine headed by Hawaii’s political godfather, Senator Dan Inouye
was being investigated by the FBI during former (R) President George Bush
tenure. The basis of the investigation stemmed from allegations of extortion
and bribery aimed at the administration of former (D) Gov. John Waihee. The
investigation was killed by Clinton’s friend Webster Hubbell, the number
three man in the Justice Dept. under Reno. (Associated Press story
Washington,J. Solomon, FBI failed to act on Fund-raising of ex-Hawaii
couple) The point of the story seems to be that the FBI knew early on about
the illegal fund-raising activities of this Hawaii couple and their link to
President Clinton/Gore.
Eventually the investigation focused on Indonesian banking tycoon, Mochtar
Riady and his Lippo Group. The basis of the story I am trying to relay to you
is that Hawaii’s Democratic Machine used the billions of dollars of the
Kamehameha Schools / Bishop Estate assets to undertake the task of
underwriting and orchestrating the initial public offering of the Xiamen
International Bank on the Hang Seng and the N.Y. Stock Exchange. This would
have the effect of legitimizing a Communist Chinese banking entity on the
biggest stock exchange in the U.S. and open the doors allowing American money
to capitalize a communist regime. (please see Honolulustarbulletin.com,
stories relating to the Bishop Estate and Trustee Henry Peters, Panin North
America story and the stories linking Goldman Sachs/Robert Rubin.)
The chart includes a history of Hawaii’s
Democratic leaders and their tie-in to Hawaii’s two biggest banks and their
efforts to spear-head expansion throughout Asia and the Pacific-Rim. It begins
in 1963 to 1970, when a group of Hawaii legislators killed a Bank Examiner
Bill. They were already employed as legal counsel or otherwise associated with
the top banks. This I felt was a good point to begin telling you the story
because it begins to reflect a pattern of using politically appointed people
to legally white-wash or cover-up the wrong-doing of the big banking and
financial interest here in Hawaii.
Today the same thing is happening, and this time they were successful in
persuading President Clinton to push Hawaii’s Donna Tanoue to become the
head of the FDIC. The significance in this is that the only time anyone here
in Hawaii heard of Ms. Tanoue was when she was tapped to cover-up the scandals
that arose when 9 out of 20 of Hawaii’s Industrial banks failed. Many of
them were linked to former (D)Gov. Geo Ariyoshi and other high ranking
Democratic Party old boys. The results were that no one was convicted or
sentenced to do time and the people of Hawaii ended up footing the bills.
(Honolulu Advertiser, April 30, 1998, Advertiser Washington Bureau,
John Yaukey) (Honolulu Advertiser, Mar. 29-30, 1985, "Spend
Thrifts" regarding
The political connections between former Gov. Geo Ariyoshi and the failure
of the Hawaii Thrifts)
The point in telling you this is that once again Hawaii’s top bank are in
a financial tail-spin and Donna Tanoue has been conveniently positioned to
allow the banks to expand throughout Asia, the Pacific-Rim and the western
part of the U.S. The FDIC has a role in approving or setting the standards for
bank acquisitions. If Hawaii’s banks are in trouble, then how does that
effect the 1,100 banks, savings and loan companies and credit unions that are
insured by the FDIC? (Pacific Century Financial Corp.’s, formerly Bank of
Hawaii’s stock hit a 52week low prompting their CEO, Lawrence Johnson to
resign last week amid rumors of other banking problems (the problems will be
based on the banks management of trust fund accounts and securities
violations).
So, there are essentially two stories here one surrounds the interesting
factors that point to the way Hawaii’s political machine has played a role
in opening the door so that American capital can flow through to a Communist
Chinese banking group and the other factor is based on the way the Hawaii
political machine has positioned one of their own to (Ms. Donna Tanoue)
white-wash and cover-up their efforts to expand throughout the Asia, the
Pacific-Rim and the U.S. Ms. Tanoue was instrumental in covering-up the
insider dealing that led to the failure of 9 of 20 industrial banks in
1983-1985. If she is allowed to do the same thing as the head of the FDIC it
could affect the men, women and children who are the depositors of the 1,100
banks, savings and loan and credit unions insured by the FDIC -- in other
words every man, women and child across America. So much for Hawaii’s
politics and Hawaii politicians and their banking friends. Please find
enclosed chart. If you are interested I can forward
more info on the subject.
Aloha,
Greg Wongham
Corruption in Hawaii
