The arrogance and audacity of Michigan Republicans continues
On Thursday, Governor Rick Snyder signed a bill into law that goes into effect retroactively. The retroactive aspect of this bill benefits one person: David Schostak, brother and business partner of Michigan Republican Party chair Bobby Schostak. The bill overturns court decisions against Schostak that have him responsible for $2.4 million from a bad mortgage deal relating to the Cherryland Mall in Traverse City.
Wells Fargo bank will file a court challenge to a new state law signed by Gov. Rick Snyder that overturned a $2.4-million judgment against the brother and business partner of Michigan Republican Party Chairman Bobby Schostak, the bank’s attorney said Friday.
The law Snyder signed Thursday, which says a lender can recover only the real estate offered as collateral when a certain type of commercial loan goes into default, is unusual because it is retroactive, to the benefit of Schostak’s brother.
It’ll come as no surprise to those who have watched the Michigan Republicans over the past two years to find out that the Schostak Brother’s attorney, Lawrence McLaughlin, helped write the bill.
Several Democrats including Gretchen Whitmer and Tupac Hunter were originally listed as cosponsors of the legislation. However, after learning more details, they had their names removed. Even some Republicans are distancing themselves from this blatant and unethical use of power to benefit friends and relatives.