Word: loaned
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Dates: during 1980-1989
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...fact, uppermost in the minds of White House strategists and Reagan's Senate allies last week as they grappled with Meese's deteriorating situation. The relatively routine confirmation was derailed when the Washington Post disclosed that the nominee had failed to report a $15,000 interest-free loan from a California friend, Edwin...
Although Meese had called the omission of the loan "inadvertent," his error posed a dilemma for Attorney General William French Smith, a Meese friend who wants to retire in time to help Reagan campaign for reelection. The Justice Department was prosecuting Republican Congressman George Hansen of Idaho for failing to include loans to his wife on the disclosure forms required of members of Congress. The Hansen loans from Texas Billionaire Nelson Bunker Hunt were larger than Meese's (the largest was $62,000), and Hansen refuses to file amended forms. Meese has readily done so, but that might...
...timing. An outside prosecutor could take five months or more to probe all the allegations against Meese. That would keep the controversy burning right up until election time. At the beginning of last week, Smith and Justice Department aides had started a preliminary investigation apparently limited to the Thomas loan. If no wrongdoing was evident, Meese could claim that he had been "cleared," obviating the appointment of a special prosecutor. Meese partisans assumed the nominee would then survive more grilling by the Judiciary Committee and win full Senate confirmation well before the election campaign reached a critical stage...
...week's end Meese embarked on an aggressive media campaign, holding spirited interviews with leading publications, including TIME. He assailed his critics as "character assassins," without saying whom he had in mind. Yet he seemed naive when he insisted that he was not wrong in accepting the Thomas loan because "it never occurred to me that an interest-free loan was a thing of value...
...Thomas Loan. Ursula Meese borrowed $15,000 on Jan. 7, 1981, just two weeks before Reagan's Inauguration. She used the money on Jan. 26 to buy $7,500 worth of stock for each of two children in Biotech Capital Corp., a New York investment company then making its first public stock offering. Meese failed to disclose the loan in his 1981, 1982 and 1983 forms. He also neglected to list the stock holdings as a family asset...