Campaign 2010

May 19, 2008

Lou Barletta’s Shell Game: Where’s the Loan Now?

2008 Personal Financial Disclosure begs the question - is the $65,000 loan actually up to a $250,000 loan?

 

Lou Barletta’s campaign continues to play the shell game with his questionable loan.  Leaving us to ask, where is the loan now, Lou?  Thursday, Congressman Paul Kanjorski filed an updated personal financial disclosure (PFD) form with no questionable loans or unanswered questions.  Lou Barletta’s PFD on the other hand begs the question – is the $65,000 loan to the First National Bank actually an even larger loan between the amount of $100,001 and $250,000 as it is listed on his PFD?   What’s the real story?  Barletta says it was a personal loan, the FEC says it was a campaign loan, and his PFD seems to tell yet another story. What is Lou Barletta hiding and under which shell will we find the truth?

 

“Lou Barletta is playing quite the shell game with his questionable loan,” said Carrie James, regional press secretary at the Democratic Congressional Campaign Committee. “Lou Barletta’s crooked book keeping raises serious doubts about his ability to honestly represent middle class families struggling in a tough economy.  Pennsylvania families have to pay their bills on time, pay down loans and they certainly don’t have the option of taking out a loan without interest. Why should Lou Barletta’s deal with the bank be any different?  If Lou Barletta has done no wrong, why won’t he release the proper documentation showing he is paying down the loan, it has accrued interest and he, like all other Pennsylvania families, is responsibly taking care of his finances?”

 

The Unanswered Questions:

 

  • Lou Barletta’s Personal Financial Disclosure form shows a loan between $100,001 and $250,000 to First National Bank.  Is this the same loan that he reports on his FEC report for $65,000?  And can he explain the discrepancy in amounts? 
  • Has Lou Barletta made any payments to First National Bank (F.N.B.)? 
  • How is he paying down the $65,000 loan?  Is his newly established campaign committee making payments? Is the 2002 campaign account making payments? Is he raising money to pay off the loan? Are Lou Barletta and his wife making personal payments on the loan?
  • After three months of questioning, has interest accrued on this six year old loan?