Nick Boyias, succesful producer of the coming-of-age Sony Classics title “Quinceanera” as well as a slew of not so rosy porn titles, is loving as he watches Washington Mutual go through what the New York Times calls the biggest banking meltdown in U.S. history.
Boyias, whose San Fernando Valley porn business carried a 700-plus FICO credit rating and did million-dollar deals for his profitable porno titles through Wash Mutual, was inexplicably denied a credit extension by the bank.
According to Boyias, Washington Mutual claimed it didn’t like to deal with people “in his business.”
“I had excellent credit, good personal tax returns and a credit line,” Boyias told FBLA. “I went to Washington Mutual, which did commercial banking, and I had a small credit line. Then they turned me down for an extension because I’m in the adult entertainment industry.
“I was turned down for a business credit line because they said they wouldn’t loan to my industry,” he continued. “I sell a product that brings a lot of joy to people. They’re being hypocritical.”
Former porn star and current private eye Paul Barresi summed it up like this:
“Nick Boyias is an adult movie manufacturer and distributor who is as honest as they come. He is a Greek born, hard working family man, who puts God, family and country before anything else. WAMU’s got some nerve telling Nick he’s in an unfavorable industry so therefore can’t offer him a line of credit. Here’s a bank that has a CEO on the job for not even a month, then kicks him to the curb, but not before awarding him with a $20,000,000 severance package. And then there is hard working, patriotic, tax paying Nick Boyias, with an impeccable FICO score, and he can’t get a line of credit? Not WAMU or any of these failed banks got any room to judge or play high and mighty. When they fall on hard time, good ole Uncle Sam comes to the rescue. But guys like Nick got no place to go. It’s Un-American stuff like this that makes a man feel not so proud to be an American. This country is falling flat on its ass and it’s a damn shame.”
A Washington Mutual rep would not comment on assertions from Boyias or Barresi. But you certainly wouldn’t blame Boyias if he was caught paraphrasing WAMU’s obnoxious commercials: “WAAAAAAAAA MUUUUUUUUU, YOU MFs.”