Feb
13
2009
1

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

Via RedState 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 $150,000 loan in 1998, when she was first elected to the U.S. House of Representatives. Through Dec. 31, her campaign committee has used donations to pay Napolitano $221,780 of interest while reducing the principal by just $64,727, a review of her Federal Election Commission filings shows.

(more…)

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