This has got to be an illegal loan. There is no collateral. Political campaigns can never get a loan this late in a race when the money stream is about to end (win or lose).
My questions exactly. How can a political campaign take out a loan? What is the collateral? Where are financial statements showing that a business entity is able to repay such a loan? Is there a personal guarantee from a wealthy individual or wealthy people?
I would love to see the paperwork on this loan, how it is justified, what collateral there is, repayment terms, etc.
My questions exactly. How can a political campaign take out a loan? What is the collateral? Where are financial statements showing that a business entity is able to repay such a loan? Is there a personal guarantee from a wealthy individual or wealthy people?
I would love to see the paperwork on this loan, how it is justified, what collateral there is, repayment terms, etc.
If Obama loses the election, BOA will never see the loan repaid.