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The Mn GOP's Cooked Books, Part 17 - Deadbeats & Bankers

When we last left off in this continuing Cooked Books series, The Party Of Fiscal Irresponsibility had just turned down an offer to pay for a forensic audit of their books.

Seriously.

The "Offer" and "Offer Withdrawn" of an audit that wouldn't cost the Book Cookers a penny came after - AFTER - Minnesota Campaign Finance Board's blistering "Findings and Order in the Matter of the Complaint of Common Cause Minnesota regarding the Republican Party of Minnesota and others", dated 13 July 2012.

From those findings:

To summarize, in 2010 the RPM had a finance director, who was recently promoted from telemarketing and who testified that he knew next to nothing about Campaign Finance Board reports and professed that it was not his job to review the reports in preparation for the treasurer's signing them. The RPM had a chair who was busy with fundraising and his own business and believed that the finance director and the party unit's compliance company were responsible for preparation of the reports. The RPM had a compliance company that disavows any responsibility for campaign finance reports other than to put data into a system and print out the reports. And finally, the RPM had a treasurer who placed all of his reliance on these three individuals. Given that situation, it is no surprise that the RPM reports were inaccurate.

Yep!  No surprise!!!

So it was a surprise when yours truly, the ol' TwoPutter, took a quick look at the 2012 Year End FEC Report. First stop? "Schedule C - Loan Information" (which is to your right; larger image here).

Three loans, all from Alliance Bank in St. Paul.  Let's look at the bottom, and oldest, loan first:

***Date incurred = 07/01/2010

Date due = 20110701

Original Amount of Loan = 20000.00

Amount Paid To Date = 0.00

Loan Balance = 20000.00***

OK, what we have here is a one year loan of $20,000, due and payable July 1st, 2011, that they haven't paid a penny on.

Next loan:

***Date incurred = 08/13/2010

Date due = 20110813

Original Amount of Loan = 208043.66

Amount Paid To Date = 96796.73

Loan Balance = 111246.93***

OK, what we have here is a one year loan of a little more than $200k, due 2 & 1/2 years ago and the MnGOP has paid less than half the loan back.

Now let's look at The Book Cooker's newest loan!

***Date incurred = 12/18/2012

Date due = 19000101

Original Amount of Loan = 25000.00

Amount Paid To Date = 0.00

Loan Balance = 25000.00***

Too funny!!!

Two loans outstanding - one REALLY "outstanding" with no payments made in 2 & 1/2 years - and Alliance Bank gives 'em another??!?  And gives it to 'em after the Book Cookers have been in the news for bein' deadbeats for, like, well, for a long time??!?

At least this time, Alliance Bank is realistic with when it expects the money back:  "19000101"

But hey!  At least that $20k put the MnGOP in the black, at the end of the year!

I wonder what the application for the latest loan looks like?

Because, and seriously, what self-respecting Banker would give the MnGOP a loan - especially ANOTHER loan?

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