What Are We Doing?
Opposing the hostile takeover of Liberty Apple Valley
VICTORVILLE In the wake of controversial statements aired on Talk 960, talkshow host Barbara Stanton was fired Monday by Clear Channel Victorville.
Stanton ignited criticism on April 26 by falsely declaring the president of East West Bank to be a
foreigner, accusing the president of Desert Community Bank of lying on her show, and encouraging her listeners to
suck your money out of DCB.
The Daily Press obtained an internal memorandum from Clear Channel stating:
Barb Stanton is no longer employed by KIXW-AM.
Clear Channel officials on Monday confirmed that Stanton had been terminated.
The management of any organization has to make decisions that are internal and personal, and I am compelled to appreciate and respect their decisions, said Ronald Wilson, president of Desert Community Bank.
Stanton’s remarks could potentially constitute a violation of state banking law, according to a legal expert.
Stanton falsely claimed on the air that the president of East West Bank is not an American citizen, asserted that the bank merger is
going to be a big time for all, except us, the true Americans, and publicly urged depositors to withdraw their funds from Desert Community Bank. Eighty-four percent of East West Bank is institutionally owned by American companies.
According to the California Department of Financial Institutions, section 3369 of the financial code states:
Any person who willfully and knowingly makes, circulates or transmits to another or others, any statement or rumor, written, printed or by word of mouth, which is untrue in fact and is directly or by inference derogatory to the financial condition or affects the solvency or financial standing of any bank doing business in this State ... is guilty of a misdemeanor punishable by a fine of not more than $1,000 or by imprisonment for not more than one year, or both.
Representatives of Desert Community Bank are uncertain whether they will pursue legal action.
I think what she said certainly has a risk of having violated that section, said Alan Rosen, legal counsel for Desert Community Bank.
Her statements were false and designed to cause financial harm to the bank, he said.
The San Bernardino County District Attorney’s office of Victorville declined to comment on the matter.
Attorneys for the bank have not ruled out the possibility of a civil lawsuit against Stanton, Rosen said.
There are potential lawsuits there, but we have not made any decisions over whether we will seek civil remedies, he said.
Besides asserting that Ron Wilson lied during an appearance on her show several weeks ago, Stanton also said that Dominic Ng, the president of East West Bank, is a foreigner.
She just didn’t know what she was talking about, Rosen said.
Dominic Ng is not only a U.S. citizen, he happens to serve on the board of directors of the Federal Reserve Bank of San Francisco, he said.
Stanton has not responded to repeated requests for interviews.
Rosen said bank officials will continue to work to make the merger transaction succeed.
Our goal remains making sure that this merger becomes a reality, he said.
Mitch Deacon, Daily Press (found at FreeRepublic.com)