…is the guy we can’t trust in “this economy”?

Guy has a new piece of mail out about Paul’s work on the Board of The Bank of Philadelphia.  In it, he tells the voters that you can’t trust his opponent “in this economy”.  The Bush economy.  The very economy Guy helped to create.

We don’t have to defend Paul against these false claims. We have the former Bank of Philadelphia President to do it for us:

I would like to respond to some of the recent comments against Mr. Paul
Drucker, made by Mr. Guy Ciarrocchi, Mr. Drucker’s opponent for State
Representative.  Mr. Drucker was a founder of First Bank of Philadelphia
and was a member of the Bank’s Board of Director.  Yes, the Bank did
have financial troubles due to bad loans that were made.  But, Mr.
Drucker was a part of the solution to the problems that the Bank faced,
something that many bank directors could take a lesson from in the
current situation.

Mr. Drucker, in his role as a bank director, was directly involved in
removing the management of the bank that got the bank into trouble in
the first place. 

Mr. Drucker was also closely involved in bringing in a turnaround
specialist to resolve the situation. 

Mr. Drucker was closely involved in overseeing the plan to resolve the
issues the bank faced and the execution of that plan.

Mr. Drucker was closely involved in overseeing the search for new
capital to be brought into the bank and the successful negotiations to
bring in new capital.

The Philadelphia Inquirer reported that First Bank of Philadelphia was
the only one of the startup banks of the late 1980s that did not have to
be closed or forced into a merger!

To me, this is type of leadership that many of the financial
institutions within the current environment badly needed.  Yes, First
Bank of Philadelphia had problems, but it also had members of its Board
of Directors that were a part of the solution to those problems.  For
this Mr. Paul Drucker deserves our thanks…not the ignorant criticism
of some desperate politician.

John M. Mason
Former President of the First Bank of Philadelphia

What Kind of Guy is the guy we can’t trust in this economy?

Guy Ciarrocchi.

Come back tomorrow for another installment of “What Kind of Guy…”


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