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Lawsuit to be filed over loan by actor (Schwarzenegger)
San Francisco Chronicle ^
| October 2, 2003
| Christian Berthelsen and John Wildermuth
Posted on 10/02/2003 8:36:03 AM PDT by calcowgirl
Edited on 04/13/2004 2:44:13 AM PDT by Jim Robinson.
[history]
A $4 million loan Republican actor Arnold Schwarzenegger made to his campaign for governor is illegal under state campaign finance rules, a Sacramento labor leader charged Wednesday.
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.
(Excerpt) Read more at sfgate.com ...
TOPICS: News/Current Events; Politics/Elections; US: California
KEYWORDS: campaignfinance; cfr; recall; schwarzenegger; smellthedesperation
To: calcowgirl
Its politics. The sleazebags who've made our state famous or is that infamous - for Pay To Play policies are suddenly posing as paragons of political virtue. How touching!
2
posted on
10/02/2003 8:39:02 AM PDT
by
goldstategop
(In Memory Of A Dearly Beloved Friend Who Lives On In My Heart Forever)
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3
posted on
10/02/2003 8:39:51 AM PDT
by
Support Free Republic
(Your support keeps Free Republic going strong!)
To: goldstategop
What a final ride to votin' time. Methinks Arnold will take the high road speaking of hope and the future and will win this sucker in a landslide. The Rats/left's desparation is most amusing...
4
posted on
10/02/2003 8:41:07 AM PDT
by
eureka!
(Rats and Presstitutes lie--they have to in order to survive.....)
To: goldstategop
Note how Mulholland is mentioned as just a "consultant" rather than the sleaze-peddler that he is.
5
posted on
10/02/2003 8:41:39 AM PDT
by
michaelt
To: calcowgirl
Wasn't Busatmante ordered to refund a large illegal contribution and has so far blown it off?
To: calcowgirl
OK, so it's legal to take out a bank loan to finance the campaign, but illegal for the candidate to directly loan the money from his own pocket....ok....
So which did Arnold do? One side says that the loaned the money from his own pocket, while the other indicates that it was, in fact, a bank loan....
To: michaelt
"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."
wouldn't the fact he is ARNOLD mean the bank where he is a long time customer know he is good for it and give him a great rate?
8
posted on
10/02/2003 8:46:42 AM PDT
by
Pikamax
To: calcowgirl
Arnold is worth over 800 million dollars.
No bank on earth would not give him a low interest loan.
9
posted on
10/02/2003 8:48:23 AM PDT
by
Pukin Dog
(Sans Reproache)
To: calcowgirl
Do the Commie treasoners ever eat anything besides sour grapes?
10
posted on
10/02/2003 8:52:38 AM PDT
by
Quix
(DEFEAT her unroyal lowness, her hideous heinous Bwitch Shrillery Antoinette de Fosterizer de MarxNOW)
To: goldstategop
For sure!
11
posted on
10/02/2003 8:53:08 AM PDT
by
Quix
(DEFEAT her unroyal lowness, her hideous heinous Bwitch Shrillery Antoinette de Fosterizer de MarxNOW)
To: Pikamax
They would. He has the money to repay the loan since he's a good credit risk. And the Democrats don't understand the nature of lending and borrowing? They're dumber than I thought.
12
posted on
10/02/2003 8:54:42 AM PDT
by
goldstategop
(In Memory Of A Dearly Beloved Friend Who Lives On In My Heart Forever)
To: michaelt
I saw Mulholland on Hardball last night. What a vile, disgusting man he is!
13
posted on
10/02/2003 8:57:06 AM PDT
by
Wphile
(Keep the UN out of Iraq)
To: goldstategop
Maria Cantwell did something similar - got a low interest loan using her stock in Real Networks as collateral. She then had to fundraise to pay the loan off because the RN stock tanked. Not sure if she ever did pay the whole thing. It was a bit of a controversy but the mainstream press never really focused on it. Gee, what a surprise.
14
posted on
10/02/2003 8:59:09 AM PDT
by
Wphile
(Keep the UN out of Iraq)
To: calcowgirl
Operation Smear Job, Round Two. Appropriate that Mulholland is mentioned in the story.
To: calcowgirl
Just as I had thought, they are opening up the sleaze at the last minute, hoping to bring Schwarzenegger down. And as I've said, this is why McClintock needs to stay in the race. If people do flee Arnold because they believe the sleaze, they need a place to go and the Democrats can't demonize both McClintock and Schwarzenegger at the same time.
To: calcowgirl
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To: Question_Assumptions
It is too late for that, sadly. If Arnold sinks, so does the recall.
18
posted on
10/02/2003 3:50:32 PM PDT
by
ambrose
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