Posted on 02/21/2006 6:40:03 AM PST by wjersey
Does a 401K/IRA count as a "liquid" asset, though? You can't touch it until you're 59 1/2.
That's very true. The problem is that Senate ethics rules don't allow members to accept commercial terms that aren't available to the general public.
The RATS are their media handmaidens will stop at nothing to destroy Santorum. We are in the for the fight of our lives, and every conservative in America should talk with any person in Pennsylvania that they know.
The only politicians in my lifetime who were more hated by the media than Rick Santorum have been Dan Quayle and Richard Nixon. And that includes Bush/Cheney as well.
The only upside to Rick losing to this fraudulent, wolf-in-sheeps clothing Casey, is that he is going to make a fortune in the private sector, but the country will be hurt as a consequence.
I never live in the same house for more than five years. Even if you don't make a huge profit, you live free for five years. Rick probably wants a 1 mill. house in five years.
There's thousands of them around here! Big homes w/ 5000 sq/ft with a couple of SUV's in the driveway. Custom tree fort for the kids, built-in pool and sprinklers.
These are the folks that always leave their windows open so world sees they have no furniture...
I've lived in mine for sixteen years now, and the price we paid for it (which of course seemed high at the time) is comical now, because we are in Northern Virginia. Million-dollar houses are commonplace here; the market has calmed down a little, but it always picks up in the spring, so we'll see if the jumps in prices can be sustained.
The numbers are from Santorum's own personal finance disclosures, which he releases each year. He could be lying about having not more than $140,000 (note: because the range is large, he could have far less than that too) but that hardl yseems likely.
Exactly.
"...Sen Hillary Clinton and her husband received a $500,000, five-year mortgage for their Leesburg, Va., home from a small, private Philadelphia bank run by a major campaign donor - even though its stated policy is to make loans only to its "affluent" investors, which the senator is not."
Before she became co-pres, hill made over 200K a year and IIFC they reported close to a million in assets. As pres. bill made what 350K. Now hill makes 160K while bill makes millions. Easily qualifies for as big a loan as they want.
While I agree, in this case the estimate is based on finance disclosures released by Santorum.
IIFC=IIRC
SANTORUM is notorious for abusing the power of his position. He has the LOCAL pa school district PAY for his kids to have long distance schooling. He claims residence in Pa so he can represent who voted for him but lives in VA.. He wants his kids with him in VA but want PA to foot the bill for their education.
Not to worry, when the rats jump off the Clinton sinking ship in 08' he'll end up with a cabinet position ala Spence Abraham, John Ashcroft.
Revenge is best served cold.
Or maybe Santorum may have stepped in it.... Repubs are good at that, you know. And with such an important election this year - you would think they would keep things on the up-and-up.
Just shows that the Democrats don't have a corner on the market for unethical behavior.
If the Repubs loose the majority in the next election or two (not that they have done much with it outside of court nominees, important though that may be), they can only blame themselves.
You walk up to any bank, with an unencumbered or low encumbered 1mm to 1.5MM home and say, I want to take out a 500k 5 year mtg... and I don't care what their "OFFICIAL" stated policy is.. you are going to get that loan. 70% or less of fair market value total encumberance is an absolute no brainer for any bank to issue.
Now I don't know the exact details, there might be some quid pro quo going on here, but based on "estimated cash" and no mention of the houses market value or current encumberance by a left leaning paper in Philly is not something I'm going to go ape poop over. I'd want to find out more..
If he bought the house for 650k many years ago, its very concievable its worth well over 1MM in the DC area market today. Also, his original mortgage was only 400k, and who knows what balance that is at now.. or if he used the 500k to pay that one off....
I think assuming quid pro quo based on this story is jumping the gun.... there is nothing here that screams corruption, at least not that I can see.
Ever hear of REFINANCING?
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