Wednesday, June 06, 2007

Lemon: What Promises Did Grit Leader Candidates Make?

The speculation that was not made in on their borrowings and spending...
Anybody wonder now why the Grits are broke?

...Dion borrowed $705,000 from eight lenders, $555,000 of which is still owing. He also raised $953,396 from 1,925 donors. Dion spent $1,689,389 to conduct a nine-month campaign that ended in his stunning come-from-behind victory last Dec. 2. He did not come close to the $3.4 million spending limit imposed by the party.
Dion's $705,000 in loans include $350,000 from Montreal businessman Stephanos Mamdouh, $50,000 from former Ottawa Senators owner Rod Bryden and $50,000 from Stephen Bronfman, a member of the wealthy Montreal family that made its name in the distillery business.

Rae also borrowed $845,000 - all of it from his brother, Power Corp. executive John Rae, except for $125,000 Rae lent himself. He's already paid off $623,478, leaving $221,522 in outstanding loans.

Kennedy, by contrast, borrowed $451,170 from 11 lenders, mostly relatives but including $50,000 from auto parts giant Magna International. His report suggests that he's repaid $195,750 so far.
Kennedy also reports another $311,682 in unpaid bills.

Kennedy . . . said the camps are planning to begin holding twice-monthly joint fundraising events and to launch joint appeals for donations. Kennedy added that the Liberal contest was the "most open and transparent" in Canadian history and campaign spending by each camp was much more frugal than previous Liberal or Tory contests.

Frugal? This is Kennedy's idea of Frugal? No wonder the country was so messed up under their leadership. This would be a gift that keeps on giving, except that these loans may just not be repaid (damn the credit ratings).

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