A struggling bank makes loans to a prominent businessman who offers flimsy excuses on why he can’t pay back his debt. The gentleman than begs a federal agency for a helping hand, claiming he can’t come up with the money.
No, it’s not a scene ripped from today’s headlines — this was in 1993, and the prominent, wealthy man asking for a government bailout was Republican state legislator Kim Brimer, now proclaimed by business groups as a “champion for free enterprise.”
At least some of this has been reported elsewhere, but this is the best and most comprehensive overview of the whole thing I’ve seen. Check it out.