Tuesday, March 3, 2009

Self-Dealing Omitted: Rep. Grace Napolitano Pays Herself $200,000 In Interest On '98 Loan

Photo: Grace Napolitano (Image from The Washington Post)

From News Busters:

The Democrats campaigned to take over the reins of the majority in Congress by promising to "drain the swamp" of a "culture of corruption" by the Republican Party. Examples of Democratic corruption or self-dealing go largely unnoticed. For two weeks now, the national media has ignored a Los Angeles Times report that Rep. Grace Napolitano has paid herself more than $150,000 in interest on $150,000 she loaned herself in her initial 1998 House campaign. (The Whittier Daily News later amended that figure upward to $205,922.) With the exception of the Hannity show on Fox News, no one else in the national media has noticed. Andrew Zajac reported on February 14:

Rep. Grace F. Napolitano (D-Norwalk) has collected tens of thousands of dollars in personal income by charging double-digit interest on money she lent her campaign 11 years ago and soliciting donations from Washington lobbyists at "debt retirement" fundraisers.

Read more ....

My Comment: This is a sweet deal. Be a loan shark to yourself, and collect the money from your campaign contributors.

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