Yeah, we know times are tough and this kind of thing could happen to anyone. But, for god’s sake, Ruben Hinojosa isn’t just any Democrat congressman. He’s a member of the House Financial Services Committee. You know, the guys in charge of banks.
The Associated Press has the story:
According to federal bankruptcy court documents, Rep. Ruben Hinojosa, D-Mercedes, has $2.9 million in liabilities, though he also has nearly $1.5 million in assets.
Most of the money Hinojosa owes — $2.6 million — is a claim by Wells Fargo Bank. The congressman says that is due to a loan he personally guaranteed for the H&H Meat Products Co., which went bankrupt.
The Financial Services panel has jurisdiction over legislation affecting banks. House aides and outside experts say the House has no rules forbidding a lawmaker who owes large sums to a bank from serving on that committee.
Well, we’re pretty sure that won’t be a problem for Congressman Hinojosa. Based on his adroit combination of failure and finger pointing, he’s undoubtedly being groomed for a position of great importance in the Obama administration.
Source: Associated Press
This post was last modified on February 8, 2011
View Comments (6)
He is only going to be bankrupt until he spends his way into recovery!
What a plan! It's working for all of us!
The blind leading the blind...
Just when you think your respect for congresscritters couldn't sink any lower...
I don't have a problem with a man who makes a mistake forcing him into bankruptcy - it could happen to anybody. But a dignified honorable man would immediately admit that he doesn't have the credentials or necessary ability to be an elected representative making multi-trillion-dollar decisions about our nation's financial sector. He should resign.
you think maybe one of the h's in h&h might just stand for hinojosa? maybe even hinojosa and hinojosa. maybe i'm jumping to conclusions but why else would he personally guarantee the loan? at any rate, pay up. libtard.
Always read the fine print congressman. You signed on the dotted line, now pay what you owe. Liquidate all his assets and pay off his loan then. He is no better than any one else. In matter of fact, he needs to be held to a higher standard.