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Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan | TPMMuckraker
And in today's "I shit you not" news,
Tea Party aligned Georgia Rep. Tom Graves (R), who castigates Washington for fiscal irresponsibility, reached an out of court settlement Wednesday after he was sued for defaulting on a $2.2 million loan -- which his attorney argued is the bank's fault for lending him the money in the first place.
Graves and his business partner Chip Rogers -- who is the state Senate's Republican majority leader -- took out a $2.2 million loan from the Bartow County Bank in 2007 to buy and renovate a local motel. The project soon went belly-up.
The bank, which has since failed and had its assets taken over, sued Graves and Rogers for defaulting. The two Republicans then countersued, "accusing [the bank] of improperly declaring the loan in default after reneging on a promise to refinance it at more favorable terms," according to Jeremy Redmon and Aaron Gould Sheinin of the Atlanta Journal-Constitution .
I foresee Steve Buscemi in the role of Graves.
Merged
Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan | TPMMuckraker
And in today's "I shit you not" news,
Tea Party aligned Georgia Rep. Tom Graves (R), who castigates Washington for fiscal irresponsibility, reached an out of court settlement Wednesday after he was sued for defaulting on a $2.2 million loan -- which his attorney argued is the bank's fault for lending him the money in the first place.
Graves and his business partner Chip Rogers -- who is the state Senate's Republican majority leader -- took out a $2.2 million loan from the Bartow County Bank in 2007 to buy and renovate a local motel. The project soon went belly-up.
The bank, which has since failed and had its assets taken over, sued Graves and Rogers for defaulting. The two Republicans then countersued, "accusing [the bank] of improperly declaring the loan in default after reneging on a promise to refinance it at more favorable terms," according to Jeremy Redmon and Aaron Gould Sheinin of the Atlanta Journal-Constitution .
I foresee Steve Buscemi in the role of Graves.
The party of personal responsibility and fiscal conservatives.
Priceless, Thanks for the post.
Illinois Rep. Joe Walsh, a rising star in the Tea Party movement best known for his blistering lectures of President Obama for "spending like a drunken sailor," is now being peppered with questions about his own financial responsibility after reports surfaced that he's being sued for more than $100,000 in unpaid child support.
Experts say whatever political star power the 49-year-old Republican previously emanated has been dimmed, if not extinguished, because for at least the immediate future it will be impossible for him to talk about anything other than his personal problems.
"Whenever he wants to go out and talk about the debt limit, they are going to want to talk about whether (he) is a deadbeat dad," said Kent Redfield, a professor emeritus of politics at the University of Illinois-Springfield. "His individual problems become the story and he never gets to another issue."
Read more: Tea Party Lawmaker Questioned After Reports of Unpaid Child Support - FoxNews.com
fabricated the term "predatory lending"
Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan | TPMMuckraker
And in today's "I shit you not" news,
I foresee Steve Buscemi in the role of Graves.
The party of personal responsibility and fiscal conservatives.
Priceless, Thanks for the post.
Not only are tea baggers deadbeats when it comes to financial deals, but in the case of Joe Walsh, another tea bagger is a deadbeat dad as well...........
Illinois Rep. Joe Walsh, a rising star in the Tea Party movement best known for his blistering lectures of President Obama for "spending like a drunken sailor," is now being peppered with questions about his own financial responsibility after reports surfaced that he's being sued for more than $100,000 in unpaid child support.
Experts say whatever political star power the 49-year-old Republican previously emanated has been dimmed, if not extinguished, because for at least the immediate future it will be impossible for him to talk about anything other than his personal problems.
"Whenever he wants to go out and talk about the debt limit, they are going to want to talk about whether (he) is a deadbeat dad," said Kent Redfield, a professor emeritus of politics at the University of Illinois-Springfield. "His individual problems become the story and he never gets to another issue."
Read more: Tea Party Lawmaker Questioned After Reports of Unpaid Child Support - FoxNews.com
Tea Party Lawmaker Questioned After Reports of Unpaid Child Support - FoxNews.com
And yeah...........it's on FAUX Nooze as well.
The party of personal responsibility and fiscal conservatives.
Priceless, Thanks for the post.
The party of personal responsibility and fiscal conservatives.
Priceless, Thanks for the post.
Filing as a LLC was the fiscally responsible move. I understand that not everyone is familiar with business finance but what exactly do people think limited liability means?
It really says something about the media's opinion of liberal intelligence these days that outlets consistently deliver such laughable disinformation like this because they simply don't expect liberal America could recognize the obvious factual ridiculousness of articles like this.
Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan | TPMMuckraker
And in today's "I shit you not" news,
Tea Party aligned Georgia Rep. Tom Graves (R), who castigates Washington for fiscal irresponsibility, reached an out of court settlement Wednesday after he was sued for defaulting on a $2.2 million loan -- which his attorney argued is the bank's fault for lending him the money in the first place.
Graves and his business partner Chip Rogers -- who is the state Senate's Republican majority leader -- took out a $2.2 million loan from the Bartow County Bank in 2007 to buy and renovate a local motel. The project soon went belly-up.
The bank, which has since failed and had its assets taken over, sued Graves and Rogers for defaulting. The two Republicans then countersued, "accusing [the bank] of improperly declaring the loan in default after reneging on a promise to refinance it at more favorable terms," according to Jeremy Redmon and Aaron Gould Sheinin of the Atlanta Journal-Constitution .
I foresee Steve Buscemi in the role of Graves.
Merged
I get what you're saying. If you can legally default on your loans, then it is okay! As long as you're a republican that preaches personal responsibility.The party of personal responsibility and fiscal conservatives.
Priceless, Thanks for the post.
Filing as a LLC was the fiscally responsible move. I understand that not everyone is familiar with business finance but what exactly do people think limited liability means?
It really says something about the media's opinion of liberal intelligence these days that outlets consistently deliver such laughable disinformation like this because they simply don't expect liberal America could recognize the obvious factual ridiculousness of articles like this.
The party of personal responsibility and fiscal conservatives.
Priceless, Thanks for the post.
Filing as a LLC was the fiscally responsible move. I understand that not everyone is familiar with business finance but what exactly do people think limited liability means?
It really says something about the media's opinion of liberal intelligence these days that outlets consistently deliver such laughable disinformation like this because they simply don't expect liberal America could recognize the obvious factual ridiculousness of articles like this.
The party of personal responsibility and fiscal conservatives.
Priceless, Thanks for the post.
Filing as a LLC was the fiscally responsible move. I understand that not everyone is familiar with business finance but what exactly do people think limited liability means?
It really says something about the media's opinion of liberal intelligence these days that outlets consistently deliver such laughable disinformation like this because they simply don't expect liberal America could recognize the obvious factual ridiculousness of articles like this.
You're too late, the moonbats have already creamed all over themselves.....
Filing as a LLC was the fiscally responsible move. I understand that not everyone is familiar with business finance but what exactly do people think limited liability means?
It really says something about the media's opinion of liberal intelligence these days that outlets consistently deliver such laughable disinformation like this because they simply don't expect liberal America could recognize the obvious factual ridiculousness of articles like this.
You're too late, the moonbats have already creamed all over themselves.....
moonbats don't know how to make cream. they izzzz dumb.
Voters Still Express More Confidence in Tea Party Than in Congress - Rasmussen Reports
Tea Party aligned Georgia Rep. Tom Graves (R), who castigates Washington for fiscal irresponsibility, reached an out of court settlement Wednesday after he was sued for defaulting on a $2.2 million loan -- which his attorney argued is the bank's fault for lending him the money in the first place.
Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan | TPMMuckraker
Hey! No fair throwing facts and stuff into a perfectly good Two Minutes Hate!Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan | TPMMuckraker
And in today's "I shit you not" news,
Tea Party aligned Georgia Rep. Tom Graves (R), who castigates Washington for fiscal irresponsibility, reached an out of court settlement Wednesday after he was sued for defaulting on a $2.2 million loan -- which his attorney argued is the bank's fault for lending him the money in the first place.
Graves and his business partner Chip Rogers -- who is the state Senate's Republican majority leader -- took out a $2.2 million loan from the Bartow County Bank in 2007 to buy and renovate a local motel. The project soon went belly-up.
The bank, which has since failed and had its assets taken over, sued Graves and Rogers for defaulting. The two Republicans then countersued, "accusing [the bank] of improperly declaring the loan in default after reneging on a promise to refinance it at more favorable terms," according to Jeremy Redmon and Aaron Gould Sheinin of the Atlanta Journal-Constitution .
I foresee Steve Buscemi in the role of Graves.
Thanks for demonstrating how little you know about doing business in the real world. I'll make it simple for you. The purpose of forming a Limited Liability Company is to have limited liability, primarily in the case of default because you know you don't have the personal assets needed to collateralize a secured loan. If a bank completes its due dilligence and decides to issue a business loan to a LLC knowing full well the loan can't and isn't expected to be secured by the borrower's personal assets, the bank can't now go back in time and secure the loan with make believe collateral who's nonexistence was the whole point of taking out the loan in the first place.
You mean like Barney Frank?Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan | TPMMuckraker
And in today's "I shit you not" news,
I foresee Steve Buscemi in the role of Graves.
Thanks for demonstrating how little you know about doing business in the real world. I'll make it simple for you. The purpose of forming a Limited Liability Company is to have limited liability, primarily in the case of default because you know you don't have the personal assets needed to collateralize a secured loan. If a bank completes its due dilligence and decides to issue a business loan to a LLC knowing full well the loan can't and isn't expected to be secured by the borrower's personal assets, the bank can't now go back in time and secure the loan with make believe collateral who's nonexistence was the whole point of taking out the loan in the first place.
It doesn't matter. This is the party that holds themselves up as the party of personal responsibility. Instead they take out a loan they "know" they can't repay, default, and cost the taxpayers $100,000 to remove the now dangerous building.
You'd be calling for the heads of any mortgagee that got underwater and had to default and you know it.
This idiot should be run out of town on a rail and never be allowed to make decisions on taxpayer money.
You mean like Barney Frank?It doesn't matter. This is the party that holds themselves up as the party of personal responsibility. Instead they take out a loan they "know" they can't repay, default, and cost the taxpayers $100,000 to remove the now dangerous building.
You'd be calling for the heads of any mortgagee that got underwater and had to default and you know it.
This idiot should be run out of town on a rail and never be allowed to make decisions on taxpayer money.
Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan | TPMMuckraker
And in today's "I shit you not" news,
I foresee Steve Buscemi in the role of Graves.
Thanks for demonstrating how little you know about doing business in the real world. I'll make it simple for you. The purpose of forming a Limited Liability Company is to have limited liability, primarily in the case of default because you know you don't have the personal assets needed to collateralize a secured loan. If a bank completes its due dilligence and decides to issue a business loan to a LLC knowing full well the loan can't and isn't expected to be secured by the borrower's personal assets, the bank can't now go back in time and secure the loan with make believe collateral who's nonexistence was the whole point of taking out the loan in the first place.
It doesn't matter. This is the party that holds themselves up as the party of personal responsibility. Instead they take out a loan they "know" they can't repay, default, and cost the taxpayers $100,000 to remove the now dangerous building.
You'd be calling for the heads of any mortgagee that got underwater and had to default and you know it.
This idiot should be run out of town on a rail and never be allowed to make decisions on taxpayer money.
Thanks for demonstrating how little you know about doing business in the real world. I'll make it simple for you. The purpose of forming a Limited Liability Company is to have limited liability, primarily in the case of default because you know you don't have the personal assets needed to collateralize a secured loan. If a bank completes its due dilligence and decides to issue a business loan to a LLC knowing full well the loan can't and isn't expected to be secured by the borrower's personal assets, the bank can't now go back in time and secure the loan with make believe collateral who's nonexistence was the whole point of taking out the loan in the first place.
It doesn't matter. This is the party that holds themselves up as the party of personal responsibility. Instead they take out a loan they "know" they can't repay, default, and cost the taxpayers $100,000 to remove the now dangerous building.
You'd be calling for the heads of any mortgagee that got underwater and had to default and you know it.
This idiot should be run out of town on a rail and never be allowed to make decisions on taxpayer money.
That's like saying that because Barney likes to take it a certain way sexually, all Democrats must like to take it that way too. Absurd comparison. You make a point and connect dots that aren't there. Do the Trolls here do Birthday Parties?