Perhaps I don’t understand the issue - how is taking a margin loan out against your own assets to fund your own campaign - which you paid back - a mistake?
Because it is not disclosed.
how is taking a margin loan out against your own assets to
fund your own campaign - which you paid back - a mistake?
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Don’t think taking out the loan was a mistake, apparently
it was the lack of disclosure that was the mistake...
This won’t amount to much, just flak, imo.
You're right. It is not a mistake. When the money is tight, but ones don't want to sell ones' stocks (big capital gain tax or in IRA account), ones will borrow on margin with interest and then pay it back.
The mistake is that he forgot to report it.
The required disclosure is “List All LOANS”.. Got it? It is clearly a loan— right?