Rangel had no-interest mortgage more than 10 years

Rep. Charles Rangel paid no mortgage
interest on a beach resort property for more than 10 years, a lawyer
for the powerful House committee chairman said Friday.

The New
York congressman's lawyer, Lanny Davis, told The Associated Press that
Rangel got his no-interest deal for the villa in the Dominican Republic
because he was an original buyer in the resort development, and in the
early days after Rangel's 1987 purchase the rental income it generated
failed to meet expectations.

Punta Cana Yacht Club director
Jose Oliva issued a letter stating that they initially charged interest
on the loans to Rangel and a small group of fellow investors called
"Pioneers," but after two years the company stopped charging interest
because of the lower-than-expected rental income. The removal of
interest charges was extended only to the foreign investors, Oliva
said.

Earlier in the day, the congressman's lawyer said Rangel
paid no interest at all on the mortgage, but later said company records
show there was interest paid in the first two years.

Davis said Rangel did not know until very recently he had not been charged interest for more than a decade.

"Mr. Rangel received no special preference," said Davis.

Bullshit. Does anyone without brain damage believe this shit? 10 YEARS with no interest? This is also the same guy who was paying significantly less then market rate on FOUR apartments, and is leasing a very nice vehicle, ALL paid for by you.

Republicans call Rangel ethically challenged
and have sought to censure the 78-year-old lawmaker. Even an
unintentional tax error is highly embarrassing for Rangel, since he
chairs the committee charged with updating the nation's complicated tax
code.

"Ethically challenged"? This guy is corrupt, period. He should know better. And it's Nancy Pelosi's job to weed out the "culture of corruption" and remove Rangel from his committee positions until the investigation is over.

But, we won't be hearing about that. What we are hearing about is how Nancy and Harry Reid want to remove Joe Liebermann from his committee positions because he made a speech at the Republican National Convention.

So, anyone else pissed about this? Anyone else want to laugh in Nancy's face when she begs people to "vote Democrat in November" when they clearly cannot be trusted to do anything but corrupt themselves and look the other way?

John Murtha, Hillary Clinton, Nancy Pelosi, Harry Reid, Charles Rangel, William Jefferson. These are all people who have looked the other way, made false accusations, procured hundreds of millions of dollars in wasteful earmark spending, shown to be corrupt, broken federal laws, or simply looked the other way when shown that one of their own is corrupt.

Nancy Pelosi should be removed from office for incompetence.

Travis

travis@rightwinglunatic.com