Schwarzenegger Calif. Campaign Loans Ruled Illegal
 

SAN FRANCISCO (Reuters) - A California judge ruled on Monday that Gov. Arnold Schwarzenegger broke state law by borrowing more than $4.5 million to finance his run for governor in last October's recall election.

In a preliminary decision that could force Schwarzenegger to repay the money personally, Superior Court Judge Loren McMaster ruled on Monday that the Republican governor had violated a law restricting candidates from accepting personal loans of more than $100,000 for their campaigns, said Lowell Finley, the lawyer who filed a lawsuit challenging the loan.

fuck
http://www.reuters.com/newsArticle.j...toryID=4221315

that may hurt his pockets

yeah cause 4.5 million to Arnold is a lot of money. Shit he will probably be able to write it off and end up getting money back now on his taxes

he has enough to pay that bill a couple times and still run a new campaign.

he isnt hurting

you guys are probably right

i still think of 4.5 million as a lot of money
forgive me

Ahnold is loaded. $4 mil is pocket change for him.

Arnold shits out $4 million on a daily basis. That's chump change.

OK I GET THE POINT SORRY

:waaaaahh :waaaaahh :waaaaahh = ME

it said he borrowed 4.5 so i was like wow he got a loan for that wtf

Why did he accept the loan, then? To improve his credit rating?

O.P.M.


Now as far as the ruling, HAHAHAHAHA. While they are at his pocket books can they fine him an extra 10 million for agreeing to do the second conan with a PG rating.

I believe he took them without knowing they would be ruled illegal, so he just made a mistake. This kind of stuff always gets blown out of proportion.

im a right winger so im not talking shit on him or anything
just more or less that sucks
4.5 mil is 4.5 mil

Most of his assets are tied up in real estate so I'm sure he had his reasons for taking out the loan. Paying it back could at least be inconvenient

Yeah, no story here just another Republican that cheated to win an election.

arnold makes 50 mil a movie, you do the math

I bet he's a wicked crackhead & spends hundreds of thousands of dollars on drugs

If Monday's decision is upheld, the governor could be forced to pay back the loans out of personal funds.

"The judge has agreed with us in a strongly worded position that these loans were illegal," said attorney Lowell Finley, who filed a lawsuit in October attempting to stop Schwarzenegger from funding his campaign with bank loans that could be paid back by donors after the election.

Finley said that the ruling from Judge Loren McMaster could spark sanctions from the California Fair Political Practices Commission (search) ? an agency that recently threatened Lt. Gov. Cruz Bustamante (search) with a $9 million fine because of campaign infractions.

At issue is a borrowing limit included in Proposition 34 that restricts candidates from accepting loans of more than $100,000 for their campaigns. The restrictions are intended to prevent a candidate who wins election from using his or her position to solicit special-interest money to repay the loans.

In a statement, Colleen C. McAndrews, attorney for the governor, pointed out that Schwarzenegger had relied on an October ruling by the Fair Political Practices Commission that the restriction did not include bank loans.

"The court today held that the Fair Political Practices Commission misinterpreted the Proposition 34 loan statute which permitted Gov. Arnold Schwarzenegger to loan his campaign committee $4.5 million," she said.

McAndrews said the campaign intends to cooperate with the judge, but blamed the FPPC's "erroneous regulation" for the mistake.

http://www.foxnews.com/story/0,2933,109597,00.html