GOP Candidate Frank Guinta's Mystery Bank Account Sparks Ethics Concerns Within Party
Friday, August 13, 2010 at 05:28PM http://www.huffingtonpost.com/2010/08/13/gop-candidate-frank-guint_n_681246.html
By Sam Stein
Huffington Post
August 13, 2010
The ongoing ethics saga involving Reps. Charlie Rangel (D-N.Y.) and Maxine Waters (D-Calif.) has sent Democratic operatives on a frenetic chase to find problem lawmakers on the Republican side of the aisle.
There have been some successes in the Senate where the sordid extramarital messes of both David Vitter (R-La.) and John Ensign (R-Nev.) have become inviting targets.
The House has proved less fruitful.
When Minority Whip Eric Cantor (R-Va.) told the National Review this week that the GOP would implement a "zero tolerance" ethics policy, a top strategist on the other side of the aisle insisted that the Virginia Republican would suddenly have to answer for the transgressions of a host of lawmakers in his own party. The best example he produced was National Republican Congressional Committee Chairman Pete Sessions (R-TX), whose close relationship with disgraced financier Allen Stanford and 2008 fundraising jaunt at a risqué Vegas nightclub have implied tone-deafness more than corruption.
Recent developments in a New Hampshire congressional race, however, may end up giving Democrats what they are looking for. On Thursday, former Manchester mayor Frank Guinta filed financial disclosure forms revealing a previously unreported personal bank account with $250,000 and $500,000 in assets. Coming shortly after Guinta loaned his campaign $245,000, the funds raised the eyebrows of Granite State political observers. Where, exactly, was the money coming from and why had the GOP congressional candidate not disclosed it on his previous two forms?
In an interview with the Manchester Union Leader, Guinta denied that he received any loan (which would have potentially violated campaign finance laws) and insisted that earlier disclosure omissions were "an inadvertent oversight."
But it's not just Democrats who are skeptical of the explanation. A Republican operative in New Hampshire -- who pointed out the story to the Huffington Post -- expressed anxiety that the episode would muddy the party's ethics message. Guinta, who is in a primary battle with conservative small businessman Sean Mahoney, has both the backing of the NRCC and has received the maximum contributions from Cantor and Minority Leader John Boehner's (R-Ohio) political action committees.
"It's very important for Republicans to be able to talk about ethics in the general election," said the operative. "That can't happen if the hand-picked candidates of the NRCC are mysteriously rediscovering bank accounts with half-a-million dollars they forgot they had. In the age of Charlie Rangel, Republicans need to put up a cleaner, more ethical state of candidates than the Democrats."
Reader Comments (10)
Someone in the 'establishment' with lots of money and connections apparently doesn't like Frank's popularity with the grassroots.
This dirty attack on Frank should eliminate the rest of them for once and for all for they are the ones being unethical. Ask them how many millions they have lent themselves?
He is either irresponsible or he got this money illegally.
In any case, I for one am happy to believe that Hizzoner simply forgot about having a bank account with $250K+. Who among us hasn't forgotten much more important things in our life, like our anniversary or the date we got our first puppy? Shows Frank is a regular guy in my opinion. I mean, $250-500K is only 5 to 10 times more than the guy makes in a year (after taxes), so it's obviously something that would be easy to forget, particularly when you are busy planning an expensive political campaign.
I am just happy he was finally able to remember about having this bank account- losing that much of your hard-earned savings would be a real strain when it comes time to pay for college. Good job, Frank.
As for the money coming illegally, as "Really?" impugns, this is ridiculous. Frank has been working for more than 15 years. Saving $250-500K is child's play if you have worked this long. Frank was paid $75K as mayor, or around $55K after taxes. He only has 2 kids, so he ought to be able to live on $30K and save the remaining $25K of after-tax income. In a mere 10 to 20 years- he has his $250-500K! And don't forget he also moonlighted as a state rep for 4 years, so he had that $100 per year salary to add to his savings. Little things add up.
Finally, I am more than confident Frank recovered his memory on April 15th in time to tell the IRS about this account and pay the appropriate taxes.
Let's see, Chris Wolfe, who would like to run for the Committeeman position vacated by Sean Mahoney and supports a candidate who hates Frank Guinta, writes a hit piece on Frank. This piece doesn't help his candidate, it only benefits Sean Mahoney. If Sean Mahoney wins the election will he then endorse Chris Wolfe for the Committeeman seat? I'm just sayin!
Either Frank is incompetent at managing finances or he is doing something nefarious.
Release the proof Frank!
You forgot?!! about a bank account with(if I am reading this right,250,000 cash +500,000 in assets)3/4 of a million dollars in it?I don't think so.This man supposedly had to sign disclosure forms.Are there any legal ramifications for lying on these forms,and if not,why bother even filling them out in the first place.
Jesus,why can't we find honest people to go into politics?This current crop of politicians,on both sides of the aisle,are so incompetent,stupid,corrupt(pick one,or pick them all,it pretty much describes every one of the miscreants)it almost makes elections a moot point.We are going to get the same results,although one party has thier foot on the accellerator,either way.
The answer is because its not really his money its his parents- an illegal contribution probably an IRS violation as well.