DNC may have effectively pledged their donor and contact lists to BOA for a loan.

[dixiegrrrrl]

Very interesting........

Shortly after Labor Day, as polls continued to sink, the Democratic National Committee (DNC) realized it needed a cash infusion for the upcoming midterm elections. Its chairman, former Virginia Governor Tim Kaine, turned to the Bank of America to secure a $15 million revolving credit line. Then, in the middle of this month, the Democratic Congressional Campaign Committee (DCCC) got another loan from BofA for an additional $17 millio


The DNC claims their collateral was an intangible piece of property — its donor mailing list.
The DCCC only cites unnamed “assets.” Neither party organization possesses real estate even close to cover the $32 million. The DNC’s headquarters is owned by another entity. Even it was put up as collateral, its market value was last estimated at only $13.7 million.

Were the Bank of America deals legitimate, arms-length transactions, or were they cozy sweetheart deals in which nothing was really put up to secure a $32 million loan?

And if it was the latter, could it be considered an illegal campaign contribution from the largest bank holding company in America?

There also is troubling evidence that two days before closing on the loan transaction, the DNC changed its own privacy provisions to allow the selling or sharing of private donor data.

http://pajamasmedia.com/blog/did-the-dnc-get-an-illegal-campaign-loan-from-bank-of-america-pjm-exclusive/

[EFerrari]

1. I'd look for a second, more credible source, fwiw.

These people are only slightly more credible than Breitbart.

[dixiegrrrrl]

2. good info. to know for future, thanks.

[EFerrari]

6. It would be helpful if these sites came with a warning label

but they don't. :hi:

[Ruby the Liberal]

8. These are the same nutjobs that hired "Joe" the "Plumber" to report

news from Israel.

[JNelson6563]

3. Indeed!

That's a pretty shady article. Additional sources on this would be good.

Julie

[Dr.Phool]

4. Maybe even less credible.

Jeff Guckert Gannon is one of their ace reporters.

[babylonsister]

5. More on pj media-NOT a credible source...

http://en.wikipedia.org/wiki/Pajamas_Media

Pajamas Media is a media company that uses the Internet to present and comment on the news.

Founded in 2004 by a network primarily, but not exclusively, made up of conservatives and libertarians led by mystery writer, screenwriter, and blogger Roger L. Simon, and until 2007, Charles Johnson of Little Green Footballs, it was originally intended as a forum to present blogs and blog advertising "with the intention of... aggregating blogs to increase corporate advertising and creating our own professional news service."<1> On March 31, 2009, Pajamas Media discontinued its advertising network of blogs,<2> with the exception of those inside of its primary Website, in favor of establishing its own multimedia news and opinion outlets branching out from the original Pajamas Media.com. In 2007, PJM Political, an hour-long satellite radio show, was launched airing first on XM Radio and then on Sirius-XM. In 2008 Pajamas Media launched an internet TV initiative called PJTV.com.

[Ruby the Liberal]

7. This seems to only be on RW blog sites.

I can't find it on any other sources.

Heres hoping its not true!

[dixiegrrrrl]

9. Yeah, I could not find any other source either.

Next time I will double check before posting from a unfamiliar source.
Sorry, guys.
I saw BOA and my mind just cicked.

[MilesColtrane]

10. Oy

"Were the Bank of America deals legitimate, arms-length transactions, or were they cozy sweetheart deals in which nothing was really put up to secure a $32 million loan?"

Does the author of this article lead a normal, wholesome sex life, or does he rape small furry animals after binding them with duct tape?

See, anybody can ask a loaded question when they don't have any facts.

As far as, the DNC privacy policy goes, I just sent them an email to try and find out if they use their donor lists as loan collateral.

[metapunditedgy]

11. Transparency much? n/t