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Tiffany's extended Newt Gingrich a non-standard, no-interest credit line of up to $500,000, while they were lobbying the congressional committee where his wife worked as chief clerk:
Filings by Tiffany’s lobbyist, Cassidy & Co., and other government records show that the firm’s spending on “mining law and mine permitting-related issues” in Congress, as well as the Forest Service, the Interior Department, and Interior’s Bureau of Land Management shot up sharply between during the period when Callista Gingrich was chief clerk at the House Agriculture Committee.
The Washington Post's Glen Kessler concluded that it was "highly dubious" that the Tiffany's no-interest loan was a standard agreement, as Gingrich claimed. The loan was first reported by POLITICO.
dont get too upset newt doesnt have a snowballs chance of getting the nomination
Republican presidential candidate Newt Gingrich said Sunday that a debt of up to $500,000 to Tiffany’s had been paid off.
“Did you owe a half million dollars to a jewelry company at one point?” CBS’ Bob Schieffer asked Gingrich.
“It’s a standard no-interest account,” Gingrich explained. “We paid no interest on it. There was no problem with it. It’s a normal way of doing business.”
“I mean, it’s very odd to me that someone would run up a half million dollars… bill at a jewelry store,” Schieffer noted.
“Go talk to Tiffany’s. All I’m telling you is we are very frugal. We in fact live within our budget. We owe nothing,” Gingrich insisted.
Originally posted by Blackmarketeer
dont get too upset newt doesnt have a snowballs chance of getting the nomination
Don't get too upset? The guy is still a representative of his constituents. Just cause he doesn't have a chance at being potus doesn't mean he can slime his way into 500,000 lobbying payoffs.
Gingrich: $500,000 jewelry debt is ‘normal way of doing business’
BTW he actually ran up that debt to 500,000, this wasn't a line of credit that went untapped. He used it.
Republican presidential candidate Newt Gingrich said Sunday that a debt of up to $500,000 to Tiffany’s had been paid off.
“Did you owe a half million dollars to a jewelry company at one point?” CBS’ Bob Schieffer asked Gingrich.
“It’s a standard no-interest account,” Gingrich explained. “We paid no interest on it. There was no problem with it. It’s a normal way of doing business.”
“I mean, it’s very odd to me that someone would run up a half million dollars… bill at a jewelry store,” Schieffer noted.
“Go talk to Tiffany’s. All I’m telling you is we are very frugal. We in fact live within our budget. We owe nothing,” Gingrich insisted.
Originally posted by Vitchilo
This is TOTALLY not a bribe... right?
Originally posted by getreadyalready
No. Both are entirely wrong!!
We have to completely re-write all campaign finance ...