Arnold's 4 mill bank loan for campaign is illegal - suit filed

[donsu]

http://sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2003/10/02/MN159790.DTL

Lawsuit to be filed over loan by actor
$4 million obtained for campaign at 4%

-snip-

A lawsuit, scheduled to be filed today in Sacramento Superior Court, alleges that Schwarzenegger obtained the loan from City National Bank on terms not available to the general public because the loan required no collateral and carried an annual interest rate of 4 percent.

Lowell Finley, the attorney who filed the suit, said the loan violated Proposition 34, the campaign reform law that took effect after last November's election. The new rules bar a candidate from lending any more than $100,000 to his or her campaign.

-snip-

The suit seeks an injunction barring the Schwarzenegger campaign from spending the money or obtaining any more loans of the same nature.
-snip-
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[gristy]

1. Hats off to you, Lowell Finley!

Thank you!!!!

on edit: Lowell Finley is the lawyer for the Center for Voting and Democracy: http://www.fairvote.org/ This is an excellent organization.

You can see what else Mr. Finley is up to with this google search result: http://www.google.com/search?hl=en&ie=UTF-8&oe=UTF-8&q=%22Lowell+Finley%22+lawyer&btnG=Google+Search

[trogdor]

2. Nice catch!

That one's about as good as the one Willie Mays made in the Polo Grounds.

[eyesroll]

3. Oohhh....that's super-illegal, at least for federal elections...

We're not even allowed to accept a discount on yard signs, or free catered food, unless the discount or freebie is available to the general public. If the discounter is an individual, we can accept it as a contribution (up to a limit), but if it's a corporation -- or, say, a bank -- that's a big no-no.

("New customer" sales are fine, "here's, the donuts are getting stale, so take them" is fine, but anything else is considered a campaign contribution.)

[Beetwasher]

4. A whole slew of combination puches being seen here!

The groping, the Hitler prais and now this...

[zbdent]

5. Could it be that these are coming from the Repub

camps? The Repubs have been touting Ahnuld as a RINO, married to a Kennedy, taking advise from Buffet.

Maybe they are trying to split the vote between the popular mythical character and the guy who would probably get a bigger shovel to dig himself deeper into the hole California is in (meaning the Repuke candidate).

[villageidiot]

6. Too funny

Heard a GOP Stratigazer express some concern last week that the polls were skewed in California because there was a higher than normal percentage of Republicans participating in these. But he also said "they (the opposition) have reached the bottom of the barrel on Arnold, they have nothing else they can throw at him".

[gratuitous]

7. When you reach the bottom of the barrel, throw the barrel

And if Ah-nuld is starting to flounder, let me toss him an anchor.

[KittyWampus]

8. Hadn't Heard This

The law is the law... however, it may be too late to stop Arnold from spending...