Bush Picks Ameriquest Owner as Ambassador
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On the same day that the White House announced that President Bush is nominating California billionaire Roland E. Arnall to be ambassador to the Netherlands, the company he controls said it would set aside $325 million for a possible settlement of allegations of predatory lending tactics.
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Arnall is the firm's principal shareholder. He, his wife and their companies have been the biggest political contributors to Bush since 2002.
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Here is some background information on Ameriquest:
Workers Say Lender Ran 'Boiler Rooms'
NOTE: His old friend Kenneth Lay was unavailable for the position...