View Full Version : Repub National Committee, Hiding 7 M. in debts
Gayle in MD
07-21-2010, 12:39 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Washington Times:
<span style='font-size: 14pt'>
The Republican National Committee failed to report more than $7 million in debt to the Federal Election Commission in recent months - a move that made its bottom line appear healthier than it is heading into the midterm elections and that also raises the prospect of a hefty fine.</span>
07-21-2010, 01:18 PM
I'm surprised you don't express the same outrage about the billions of dollars of debt that have been run up and hidden or just lied about in the last 18 months by your master.
Wait a minute......no...I'm not surprised at all!!!!!
Running a debt without reporting it, and getting bad headlines at this point is not such a great move when the American public are so disgusted with the Dems and ready to boot them out.
From G's link:
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">"The explanation for this was the RNC was doing a great job of controlling expenses," Pullen wrote in his memo. "This on the surface seemed reasonable; however, I reviewed April and May check registers in May and noted what seemed to be an increasing number of invoices with dates from prior months."
In other words, the RNC simply wasn't paying its bills on time to make it look as though it had more cash than it did. </div></div>
And this is SOP for business. Most business is given 45 days to pay a bill and most billing happens from the 25th to 28th of the month.
That means a debt billed as such in March would be payable without penalty as late as early to mid May. It's all cash flow ... and if a debt can be floated interest free for 45 days it is irresponsible NOT to take advantage of that grace window.
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