Help may be on the way. USA Today reports that Gingrich, in an interview, said he is embracing 's candidacy, and Romney and the Republican National Committee have offered to be helpful in retiring Gingrich's debt.
Trump has had exactly this problem, several times in fact, and with way larger sums of money. The man is a horrible business manager, but a brilliant self-promoter, which is why people keep giving him their money to lose.
Well, to be fair, the type of real estate ventures trump does are almost always "Win big, lose big."
If you engage in a hundred million dollar real estate project while borrowing lots and lots of money to do it, either it's a crazy success and you're going to be able to pay it all back and make a killing, or it's not going to be a crazy success and you'll lose your shirt. That high of leverage doesn't leave much room for middle ground.
This is my issue with the way Trump makes money, when he does actually make money. It can often be little more than an insane stakes spin of the roulette wheel, with about as much chance of guessing right, but people keep throwing money at it. If The Donald had kept his betting restricted to the casino tables, at least he would have had a harder time in getting people to back his plays and wouldn't have left other people bankrupt on his gambling.
Not that I want it outlawed, any more than I want casinos shut down, I just think it's a stupid thing to do that often costs investors way more than they realized they were risking because of the sales pitch someone like Trump can lay on them to convince them it's a sure thing.
Romney basically ignores it and goes on with a talking point about how he'll respect the other branches of government, but does say "of course not" later when asked if he agrees about the treason comment.
The speaker introducing Romney said
Yost, who read from notes, said giving Obama credit for the bin Laden raid is like "giving Ronald McDonald credit for the Big Mac."
Some reason the law doesn't order the candidate to repay those debts themselves? I have no doubt he can afford it.
Well, it does to an extent. Money given to a campaign to help the campaign retire its debts is itself a campaign contribution, and federal law prohibits direct gifts to a candidate under the claim they are personal and not for a campaign. (which is how they're trying to get Edwards).
So Romney or his PAC cannot simply give Gingrich 2 million dollars to retire his debt.
What they can do is host the typical $1000 a plate fundraiser, which Gingrich makes a token speech endorsing Romney and Romney speaks and the money goes to retire Gingrich's debt.
First - depending on what this debt is, it might be.
Most of the time when you see "X politician's campaign owes money." This isn't that the campaign truly borrowed money, these are more like unpaid bills. This is rent due on campaign offices, bills from travel and catering bills etc. However, depending on the situation the contract might well have included some sort of personal guarantee. The owners of small corporations a lot of times have to sign personal guarantees in order to borrow any substantial sum of money.
Second, why would a campaign be different from any other corporation? The Newt Gingrich Campaign is actually "Newt Gingrich 2012, Inc." or something similar. It's a standard matter of contract law that unless somebody personally agrees otherwise, company debts aren't personal debts. They'd have to specifically change that for campaigns.
Third, making politicians personally liable for debts would effectively make it so that only the truly rich could risk running, do we really want that?
John Lauber, a soft-spoken new student one year behind Romney, was perpetually teased for his nonconformity and presumed homosexuality. Now he was walking around the all-boys school with bleached-blond hair that draped over one eye, and Romney wasn’t having it.
“He can’t look like that. That’s wrong. Just look at him!” an incensed Romney told Matthew Friedemann, his close friend in the Stevens Hall dorm, according to Friedemann’s recollection. Mitt, the teenaged son of Michigan Gov. George Romney, kept complaining about Lauber’s look, Friedemann recalled.
A few days later, Friedemann entered Stevens Hall off the school’s collegiate quad to find Romney marching out of his own room ahead of a prep school posse shouting about their plan to cut Lauber’s hair. Friedemann followed them to a nearby room where they came upon Lauber, tackled him and pinned him to the ground. As Lauber, his eyes filling with tears, screamed for help, Romney repeatedly clipped his hair with a pair of scissors.
In a subsequent interview Thursday morning with Fox News Channel, Romney said he didn’t remember the incident but apologized for pranks he helped orchestrate that he said “might have gone too far.”
The alternative to him lying in bold face is that he actually doesn't remember and this act was one of any number of terrible things he's done to other people "For the fun of it", which leads one to wonder how much more of a shitty human being he's been to other people in the past.