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Breaking: Romney charged his campaign interest for his loan!!!...

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mckeown1128 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:32 PM
Original message
Breaking: Romney charged his campaign interest for his loan!!!...
Ohh... my mistake... It was Hillary who charged her campaign interest on her loan. Romney showed a little respect to his supporters and didn't use their money to make a small profit. Sorry, but Hillary is WRONG on this issue!!! How could she ask her supporters to donate to her campaign when she is making a little profit from those donations.

http://query.nictusa.com/cgi-bin/dcdev/forms/C00431569/...


Hillary Clinton's $5 million loan to her campaign won't be a total loss for the candidate.

Campaign finance documents filed today show that she's charging her campaign an interest rate of 1.26%.

It's a modest rate which means that -- if she pays herself back with donor contributions -- she still would have been better off putting her money in a savings account at a commercial bank.

Mitt Romney this year did not charge his campaign interest.

Clinton's loan has not, however, been paid back.



http://www.politico.com/blogs/bensmith/0208/Hillarys_lo...
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scheming daemons Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:34 PM
Response to Original message
1. Wow.... Ok Hillbots... how do you feel about Hillary's pocketing some of your donations?

are you ok with money that was meant for the campaign going straight to her pocket?

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mckeown1128 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:46 PM
Response to Reply #1
6. They won't answer you.
Edited on Wed Feb-20-08 11:46 PM by mckeown1128
They have been hiding from anything that shows Hillary in a bad light. Besides most of them said that the loan was ok because she "probably wasn't charging interest."

Not to mention that Bill said that loaning ones campaign money breaks the "spirit of campaign finance laws."

Anyway you cut it, it is bad.
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:34 PM
Response to Original message
2. Who was the DUer that said that donations were going into Hillary's pocket?
Someone here did.
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:36 PM
Response to Reply #2
3. Jgraz
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jgraz Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 01:18 AM
Response to Reply #3
32. To be fair, tyne was the one who pointed out that she's probably earning interest
http://www.democraticunderground.com/discuss/duboard.ph...

I was just the one who took all the shit from Hillbots who swore up and down that there was NO WAY that Hillary would ever be SO UNETHICAL as to charge her campaign (read: your donations) interest.

I wonder if any of those folks will jump on this thread to apologize. I'm not holding my breath.
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ObamaFan Donating Member (35 posts) Send PM | Profile | Ignore Thu Feb-21-08 01:23 AM
Response to Reply #32
36. Good thing..you'd turn blue and drop dead...
It's bad anyway you slice it...she's ripping off her contributors..shame really
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jgraz Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 01:24 AM
Response to Reply #36
37. I'm thinking most of the Hill supporters would be just fine with that
;)

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ObamaFan Donating Member (35 posts) Send PM | Profile | Ignore Thu Feb-21-08 01:26 AM
Response to Reply #37
39. LOL..you're probably right..
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pdxmom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:36 PM
Response to Original message
4. I also thought we had been told that she had already paid her campaign back. Or
is that part of her February financials?
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nomorewhopper Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:38 PM
Response to Original message
5. wow n/t
it just gets worse
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MannyGoldstein Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:47 PM
Response to Original message
7. I've Abhored The Clintons For 16 Years, But...
I suspect that she had to charge interest - otherwise the feds could claim it was other than a loan.
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mckeown1128 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:49 PM
Response to Reply #7
8. Not true. Romney had no problems not charging himself interest. nt
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MannyGoldstein Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:50 PM
Response to Reply #8
10. Do You Have A Link For The Romney Claim?
I'd be surprised by it.
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Zueda Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:05 AM
Response to Reply #10
24. Here...
Edited on Thu Feb-21-08 12:06 AM by Zueda
http://www.nytimes.com/2007/10/22/us/politics/22spendin...

In the third quarter, Mr. Romney made an interest-free loan of $8.5 million to his campaign. This was the second big interest-free loan Mr. Romney had made, bringing his personal campaign-related debt to $17.4 million.
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MannyGoldstein Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:25 AM
Response to Reply #24
30. Perhaps I'm Wrong Then [nt]
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bluedawg12 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:54 PM
Response to Reply #7
14. Some knows something about finance. You're right. n/t
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Thrill Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:49 PM
Response to Original message
9. Her supporters better get the bill
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rsmith6621 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:50 PM
Response to Original message
11. $75000.00



.....is what that works out to be......without that loan Hills dream would have been already done an over...

.....yep she is a corporatist at the finest.....
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bluedawg12 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:52 PM
Response to Reply #11
13. $250,000 is what it would have brought at 5% she took a loss
Edited on Wed Feb-20-08 11:53 PM by bluedawg12
I have had enough of repug lies for 8 years, don't need any more misinformation.
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:04 AM
Response to Reply #13
22. She did not have to charge interest.
"While candidates for federal office are permitted to provide unlimited personal funds to their own campaign"

http://www.nlpc.org/view.asp?action=viewArticle&aid=36
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jgraz Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 01:21 AM
Response to Reply #13
34. Do you know what period she's charging over?
Is it an annual percentage rate, or is it monthly? If it's over the life of the loan and she pays it back fairly quickly, she'll make a tidy profit.
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bluedawg12 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:51 PM
Response to Original message
12. Interest Rate = 1.26 %; she lost money on that loan
and in order for a loan to be legal interest must be charged.

She could have gotten 5% tax free on bonds or 10% return on stocks.
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DUyellow Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:59 PM
Response to Reply #12
17. low blow.... loan to be legal interest must be charged.
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:00 AM
Response to Reply #12
18. So why couldn't she charge .00001%?
Because what's another 75,000 amongst suckers?
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mckeown1128 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:02 AM
Response to Reply #12
19. Saying she lost money because it isn't as good an investment
as the stock market is hardly a good talking point. She shouldn't be "making money" from her campaign donors. It isn't a loss just because she could have made "more money" investing elsewhere. (It is merely less profit)
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jgraz Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 01:23 AM
Response to Reply #12
35. Hell, she could have invested in cattle futures
I hear those have done quite well for her in the past.
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Hutzpa Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:57 PM
Response to Original message
15. Hey folks, look whats happening tomorrow,

http://www.peterfpaul.com/2008/02/19/how-the-clinton-fr... /

did anyone knows about this? This link is slow to load so DIAL-UP WARNING!
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MidwestTransplant Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-20-08 11:58 PM
Response to Original message
16. Mitt Romney won't be paid back because his campaign hadn't raised enough money
Pretty weak that she is charging her campaign interest though.
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bluedawg12 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:03 AM
Response to Reply #16
20. Loans are charged interest and she charged a nominal amount.n/t
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:05 AM
Response to Reply #20
23. She was not required to charge interest.
Candidates can give unlimited money.
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Metric System Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:06 AM
Response to Reply #20
26. Thank you for educating the ObamaBabies. Interest is usually charged for a loan. n/t
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Zueda Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:11 AM
Response to Reply #26
28. yep, I can see Romney smackin himself on the head right now...*smack!* "Why didn't I think of that?"
Edited on Thu Feb-21-08 12:12 AM by Zueda
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:12 AM
Response to Reply #26
29. So why couldn't she charge .00001%?
Go ahead...
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FlyingTiger Donating Member (340 posts) Send PM | Profile | Ignore Thu Feb-21-08 07:33 AM
Response to Reply #26
44. ...because that's how banks make a *profit.*
Come on, this is pathetic.
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mckeown1128 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 08:49 AM
Response to Reply #26
48. So, what your saying is....
that it is ok for Hillary to make money from her campaign contributors, because people make money from loans.


Well, why don't you go donate to Hillary..... she and bill are strapped for cash with all of that 40 million dollars in speaking fees they've earned.
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Zueda Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:08 AM
Response to Reply #20
27. That nominal amount would pay for almost half my home mortage. n/t
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smalll Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:03 AM
Response to Original message
21. Wow. 1.26%. Can I get a loan from Hillary?
Edited on Thu Feb-21-08 12:04 AM by smalll
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meow mix Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:06 AM
Response to Original message
25. wow, i cant believe it..
nice little profit there
:mad:
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 12:25 AM
Response to Reply #25
31. $75K for nothing.
It should have been nothing.
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ObamaFan Donating Member (35 posts) Send PM | Profile | Ignore Thu Feb-21-08 01:19 AM
Response to Original message
33. Talk about a con job...and a ripoff...bill got 40 mil..for speeches and she charges her donors.
Edited on Thu Feb-21-08 01:20 AM by ObamaFan
Man..what a rip off...
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Egnever Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 01:26 AM
Response to Original message
38. To be fair
It was less interest than she would have earned from a bank.
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FlyingSquirrel Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 01:34 AM
Response to Reply #38
40. But she's charging her own campaign. It just doesn't pass the smell test.
eom
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johnnydrama Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 02:28 AM
Response to Reply #40
41. what she should have done
is donate all that interest money back into her campaign free of charge.
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FlyingSquirrel Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 03:12 AM
Response to Reply #41
42. That would essentially be the exact same thing as not charging the interest in the first place.
So why do it?

:shrug:
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flor de jasmim Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 06:42 AM
Response to Original message
43. Googled: 1,810,000 for interest-free loans.
First, let's be clear--interest-free loans DO exist. If the 1.26% is the annual rate and the loan is taken for a month, the amount is not that great. On the other hand, if that represents the monthly interest rate, it is more substantial.
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saltpoint Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 07:37 AM
Response to Original message
45. And if they don't pay up he's going to lock them in a cage on top of his car
and drive at high speeds down the interstate.

Willard's nothing if not shrewd.
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mckeown1128 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 08:22 AM
Response to Reply #45
47. lol nt
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Independent-Voter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-21-08 08:00 AM
Response to Original message
46. Wow - that's disgusting as all hell. The woman has no morals whatsoever
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