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| -Lurid Crime Tales- |
| Congresswoman Funneled $294,245 in Campaign Cash to Herself |
| 2013-10-22 |
| Rep. Grace Napolitano (U know the party-CA) has bagged at least $294,245 since 1998 by loaning her congressional campaign money at interest rates up to 18%--a scheme that effectively funneled campaign contributor donations directly into her personal bank account. Income reporting? Any taxes paid on that money ? The self-loan ruse was exposed Sunday night during a joint investigation by 60 Minutes and Government Accountability Institute (GAI) President Peter Schweizer based on Schweizer’s forthcoming book, Extortion: How Politicians Extract Your Money, Buy Votes, and Line Their Own Pockets. Easily mitigated with term limits. After numerous attempts to interview Napolitano, Kroft finally confronted her outside a Hispanic Caucus meeting. 60 Minutes has turned on the Party. MSM scales falling away. “She told us that as a woman and a minority, banks wouldn’t lend her money, so she had to withdraw $150,000 from an investment account to lend it to her campaign,” said Kroft. Quickly pulled the minority victim card did she ? Kroft then questioned why she would charge 18% interest. “That’s what the Mafia gets,” said Kroft. Steve, just think of it as a 'reverse mortgage' on America. “It isn’t like I’ve really profited,” said Napolitano. “I still live in the same house. I drive a small car. I am not a billionaire, or a millionaire, for that matter.” |
| Posted by:Besoeker |
| #4 60 Minutes has turned on the Party. MSM scales falling away. Let's see what they do to other Democrats & Obama the next two months. Until then, file this under 'blind squirrel finds a nut once in a while'. |
| Posted by: Raj 2013-10-22 17:57 |
| #3 Napolitano began her political career as a member of the Norwalk City Council, winning her first election in 1986 by a mere 28 votes. Four years later she won re-election by the highest margin of votes recorded in city history. In 1989, Napolitano was elevated by her council colleagues to serve as Mayor. Napolitano made her way up through the ranks of Ford Motor Company for 21 years. Following her retirement in 1992, she was elected to the California Assembly until being termed out in 1998. Napolitano previously represented the 34th district from 1999 to 2003, and the 38th district from 2003 to 2013. Due to redistricting, Napolitano ran for, and won re-election in the 2012 United States elections in California's 32nd congressional district against Republican candidate David Miller. On February 13, 2009, Timothy J. Burger, writing on Bloomberg.com, noted that, “During a decade in Congress, California Representative Grace Napolitano has pocketed more than $200,000 of political contributions by charging as much as 18 percent interest on money she loaned to her own campaign. The Democrat made the $150,000 loan in 1998, when she was first elected to the U.S. House of Representatives. Through Dec. 31, her campaign committee has used donations to pay Napolitano $221,780 of interest while reducing the principal by just $64,727, a review of her Federal Election Commission filings shows.” The loan was completely repaid as of August 2010. Apparently this has been known for over four years. Given her political and social connections, the "woman and a minority" excuse is pretty thin. |
| Posted by: Pappy 2013-10-22 17:32 |
| #2 Our government is so corrupt it is beyond scary. Time to format Washington and start over. |
| Posted by: DarthVader 2013-10-22 13:46 |
| #1 ..banks wouldn't lend her money Maybe because as a low level politician, the likely ability to repay was a crap shoot. Without a big name and proven patronage draw on funding support, the likelihood was that someone was going to be stuck with at best a penny on a dollar with the bankrupt (notice the word 'bank') reelection fund. |
| Posted by: Procopius2k 2013-10-22 13:46 |