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Title: Tea Party Rep: Bank Should Have Known I Wouldn't Be Able To Repay $2.2 Million Loan
Source:
TPMMuckraker
URL Source: http://tpmmuckraker.talkingpointsme ... ay_22_million_loan.php?ref=fpa
Published: Aug 11, 2011
Author: TPMMuckraker
Post Date: 2011-08-11 13:12:25 by Brian S
Keywords: None
Views: 7717
Comments: 19
Tea Party aligned Georgia Rep. Tom Graves (R), who castigates Washington for fiscal irresponsibility, reached an out of court settlement Wednesday after he was sued for defaulting on a $2.2 million loan -- which his attorney argued is the bank's fault for lending him the money in the first place.
Graves and his business partner Chip Rogers -- who is the state Senate's Republican majority leader -- took out a $2.2 million loan from the Bartow County Bank in 2007 to buy and renovate a local motel. The project soon went belly-up.
The bank, which has since failed and had its assets taken over, sued Graves and Rogers for defaulting. The two Republicans then countersued, "accusing [the bank] of improperly declaring the loan in default after reneging on a promise to refinance it at more favorable terms," according to Jeremy Redmon and Aaron Gould Sheinin of the Atlanta Journal-Constitution .
In June, Simon Bloom, the attorney for Graves and Rogers, argued in a court filing that the default was the bank's fault because it lent the pair the money knowing full well they couldn't pay. Bloom cited a deposition in which bank officials saw Graves and Rogers' financial records, and then had them sign personal guarantees so they'd "'have some skin in the game' presumably meaning a sense of personal obligation for the debts ... even though they clearly could not fulfill the obligation." Graves and Rogers said they were unaware of that particular filing.
The case was settled out of court on Wednesday, and a Graves spokesman called the case "fully resolved in an equitable and fair manner."
Graves and Rogers bought the motel through a limited-liability company, which they transferred to John Edens in 2009. They say that as a result they're not responsible for the loan repayments -- or for the $41,500 in unpaid taxes, penalties and interest owed the town and county for the motel. The AJC reports that Edens fell behind on electricity payments and had to shut the motel down. He then stripped it of anything of value.
The city says the abandoned site has become a nuisance, and estimates it would cost $100,000 of taxpayer money to tear it down.
Graves, who won a special election in 2010 to replace Rep. Nathan Deal (R), voted against the House bill to raise the debt ceiling on August 1st. TPM readers will also remember Graves' dire warnings about President Obama's mechanical "autopen" that he feared could one day be used to sign phony legislation. Subscribe to *Tea Party On Parade*
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#1. To: Brian S, Godwinson, LF Leftist Propagandists (#0)
Nice job, you two!!
Are they paying you enough??
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#2. To: Liberator (#1)
Way to go, Lube. Ignore the article, attack the poster.
Goldi would be so proud of you.
#3. To: Brian S, liberator, war, skip intro, lucysmom, get outta dodge!, jwpegler (#0)
is there any tea partier who isn't flaming hypocrite?
(given they all voted to add $6 trillion to the debt over the next 8 years, the answer is a resounding "no" )
Tagline for sale - inquire within
#4. To: Brian S (#0)
The case was settled out of court on Wednesday, and a Graves spokesman called the case "fully resolved in an equitable and fair manner."
So what's the problem?
Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president
#5. To: go65, Skip Intro (#3) (Edited)
is there any tea partier who isn't flaming hypocrite?
Skippy, and there you have your Tea Party propaganda message for the day and the reason for the post/propaganda in the first place.
It's the TEA PARTY'S FAULT!!!!!
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#6. To: Liberator (#5)
Skippy, and there you have your Tea Party propaganda message for the day and the reason for the post/propaganda in the first place.
Go65 didn't post the article, so what you just posted makes no sense, as usual.
#7. To: Skip Intro (#6)
Go65 didn't post the article, so what you just posted makes no sense, as usual.
No. But I quoted only his post, Sparky.
Get a frickin' clue, will ya? Geez....
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#8. To: All, stretchedmind, Tater (#7)
#243. To: Gatlin (#240)Hey Gatlin......congratulations on making the papers. lol
stretchedmind posted on 2011-08-11 0:17:57 ET
Bwaaahaa!!! HILARIOUS!!
This actually deserves its own thread, but....
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#9. To: Liberator, stretchedmind (#8)
Bwaaahaa!!! HILARIOUS!!This actually deserves its own thread, but....
stretched is always good for a belly laugh
#10. To: All, Stetchedmind (#8)
#194. To: GrandIsland (#193)("I was built in 65..")
Your sour disposition is either an indication that you are past your expiration date or that you were a lemon off the line. lol : P
stretchedmind posted on 2011-08-10 21:17:23 ET
LMAO!!! GI never knew what hit 'em.
Stretch, you're killing me!! Your pwnage of the yukons is exquisite comedy.
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#11. To: calcon, stretchedmind (#9)
stretched is always good for a belly laugh
Yep. And then some.
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#12. To: go65 (#3)
No.
I was stunned at how much stimulus money Bachmann went after.
I laughed at the happy ending...she was unable to get any...
America...My Kind Of Place...
"I truly am not that concerned about [bin Laden]..."
--GW Bush
"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"
I lurk to see if someone other than Myst or Pookie posts anything...
#13. To: Liberator (#7)
No. But I quoted only his post, Sparky.
And i'll note your inability to answer the question. :-)
Tagline for sale - inquire within
#14. To: go65, Brian S, liberator, war, skip intro, lucysmom, jwpegler (#3)
is there any tea partier who isn't flaming hypocrite?
Yes, but if you're looking for "perfection" in this world, you ain't gonna get it.
Not even from your beloved democrat party.
(why do I now feel like an ogre who's just told a six-year-old there is no Santa Claus)
#15. To: go65, liberator (#13)
No. But I quoted only his post, Sparky.And i'll note your inability to answer the question. :-)
If I were you, goat, I wouldn't bring that subject up
(the inability to answer questions, that is)
#16. To: Get Outta Dodge!, go65, Brian S, war, skip intro, lucysmom, jwpegler (#14)
if you're looking for "perfection" in this world, you ain't gonna get it.Not even from your beloved democrat party.
Since liberals and leftists have no standards, and NO expectations of doing the right thing, they can NEVER be accused of being a "hypocrite." ONLY conservatives.
Funny how this works.
(why do I now feel like an ogre who's just told a six-year-old there is no Santa Claus)
Don't worry - there's always the Easter Bunny for them to believe in.
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#17. To: go65, Get Outta Dodge! (#13)
And i'll note your inability to answer the question. :-)
You do have a sense of humor - I'll give you that.
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#18. To: war (#12)
I was stunned at how much stimulus money Bachmann went after.I laughed at the happy ending...she was unable to get any...
Yeah, I mean Bachmann is only a Minnesota Congresswoman; Why would she eschew fedgov "stimulus" to her district?? Are you insinuating conservative reps were exempt from 0bama's $800 billion dollar boondoggle?
Of course you laughed; That meant the money went elsewhere - like in liberal-DimRat districts where socialists and Unions sucked up the goodies.
"It's not surprising, then, they [White Pennsylvanians] get bitter, they cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations." ~ Comrade-in-Chief Barry Hussein 0bama
#19. To: Liberator (#18)
Why would she eschew fedgov "stimulus" to her district??
Because she voted against it and called it "fanstasy economics" that would "embarrass a...smorgasboard."
But then, "conservatives" have no standards, and NO expectations of doing the right thing but anyone who disagrees with them is supposed to.
Funny how that works.
Bachmann, in true "conservative" fashion is conservative in every district...except her own...
America...My Kind Of Place...
"I truly am not that concerned about [bin Laden]..."
--GW Bush
"THE MILITIA IS COMING!!! THE MILITIA IS COMING!!!"
--Sarah Palin's version of "The Midnight Ride of Paul revere"
I lurk to see if someone other than Myst or Pookie posts anything...
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