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Gotta love those GOP ... " "Newt Inc." has filed for bankruptcy "

Aren't those guys the one that are supposed to take care of the " trickle down " ... ?????

Quote:

Gingrich group files for bankruptcy

In another black eye for Newt Gingrich, the flagship of what's known in Washington as "Newt Inc." has filed for bankruptcy.

In a Chapter 7 filing in the U.S. Bankruptcy Court, Northern District of Georgia, The Gingrich Group LLC, doing business as the Center for Health Transformation, filed for bankruptcy Wednesday. (Chapter 7 is "the chapter of the Bankruptcy Code providing for 'liquidation,' that is, the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors," as defined by the federal courts.)

The vast majority of Gingrich's net worth is tied up in the Gingrich Group. Gingrich is worth overall between $7.1 million and $31 million, according to his financial disclosure. He lists a promissory note from Gingrich Group as being worth between $5 million and $25 million.

Gingrich was chairman of the group until May of last year, when he announced he was running for president. Since the candidate turned focus toward his presidential run, the Gingrich Group has struggled to raise money, leading to its eventual collapse.

The bankruptcy comes at a time when Gingrich's campaign is struggling to regain any momentum. He has won only two states during his run for president -- South Carolina and Georgia, his home state -- and he lags far behind front-runner Mitt Romney in the delegate count, in third place with just 137 out of the 1,144 needed to become the nominee.

http://firstread.msnbc.msn.com/_news...ankruptcy?lite

.. I just heard Romney having an orgasm .... :1orglaugh:1orglaugh:1orglaugh

Perfect to run what's left of the country into the ground. Newt 2012!!!

He may not have Romney's money, but at least Newt has Family Values:

http://i345.photobucket.com/albums/p...ily_Values.jpg

ADG

fiscally conservative responsibility in action

YO ????

12Shits ??? Raymor ??? Vendzilla ???? Gouge ???? Minte ???? ( sorry for those I cannot remember ... :1orglaugh )

Gingrich sold his share of the CHT and Gingrich Group to the CHT May 10, 2011, and relinquished any legal connection with them. Even the New York Times got story right with the title "Former Gingrich Consultancy Files for Bankruptcy", Pacer has his 4 other corporations filed under the Gingrich Holdings umbrella and doing amazingly well.

And seeing how they don't need the CHT come June 5th Gingrich sold his interest, siphoned off the cash over the past year and filed chapter 7 to secure the creditors. Hes then going to bail out of the race and support Romney in return Romney will pay off the debt.

And with liabilities between $1 million and $10 million and a promissory note of between $5 million and $25 million from Gingrich Holdings everyone would get paid regardless...but why do that if Romney will do it for you.

Barry's super-PAC paid off Hillary's $17 million debt back in 08, so its not that much different.

Quote:

Originally Posted by AsianDivaGirlsWebDude (Post 18869381)

http://i345.photobucket.com/albums/p...ily_Values.jpg

:1orglaugh:1orglaugh:1orglaugh:1orglaugh