Ensuring a Profit from Campaign Financing

    California Congresswoman Grace Napolitano, Chair of the Natural Resources Committee’s water and power subcommittee, sure knows how to make a profit on a loan. Bloomberg’s Timothy J. Burger reports that she has pocketed $221,780 “by charging as much as 18 percent interest on money she loaned to her campaign” in 1998. In a situation that Michael Toner, former chairman of the Federal Election Commission, properly | Read More »

    Is Grace Napolitano (D, CA-38) playing a grift?

    Via Constant Reader dld717 we are alerted to this somewhat sordid tale of Rep. Napolitano and her perpetual loan to herself: Feb. 13 (Bloomberg) — During a decade in Congress, California Representative Grace Napolitano has pocketed more than $200,000 of political contributions by charging as much as 18 percent interest on money she loaned to her own campaign. The suburban Los Angeles Democrat made the | Read More »