And you think we are vicious!

We just ran across a brand new website today. We have no idea who is behind this one, but we love the sentiments. It is called StopLouMagazzu.com. It is run by insiders, obviously. They had information that we didn’t know about:

Did you know Lou Magazzu loaned the Cumberland County Democratic Organization $35,000 on November 2006 with an interest rate of 8.25% and then in July 2009 as the Chairman of the Cumberland County Democratic Organization loaned his campaign for NACo $10,000 with no interest?

We want to know why when he gives a loan he charges interest but when he takes a loan from the very organization he gave a loan to he charges no interest. At the very least this whole affair is unethical.

Very interesting, and Totally Lou. A set of standards for everyone else, and a different set of standards for himself.

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17 Responses to And you think we are vicious!

  1. DEEP THROAT says:

    Three years ago. Now who was running? Freeholder terms are 3 years. Now you get it. Lou put the democrat party $35,ooo in debt for his own election.
    Party is still in debt from his last run. Always plenty of money for his elections. He cuts back during the other years. That will be especially true now that Rainear is no longer a freeholder. He runs the party and bank account for his own personal benefit.

  2. Rev. Higgs Boson says:

    It says the people behind Stoplouagazzu.com are the “Citizens who know Lou Magazzu is a piece of garbage”. If that helps any.

  3. WuLi says:

    Rev., that includes half the county!

  4. tryagain says:

    MORE HALF TRUTHS AND MORE LIES but it will make NO difference in Nov. when Magazzu wins again!!! Sounds like the new site is run by the Independents and their small circle of friends. May take away from your site but who really cares. Team Magazzu will prevail in Nov. and then you all can crawl back in your holes and do what you do best, NOTHING!!!

  5. Sell me a bridge says:

    That’s a very good question Mr. Magazzu. How is it you could charge interest to the Cumberland Democrats and not have the Cumberland Democrats charge you interest. And I looked on ELEC, it’s true.

  6. mango says:

    Back to my point about the local press. You think they’re gonna do anything with this info?

  7. Calhoun says:

    Actually MWatch did know about the 35K loan. I pointed this out and it was posted back in March (see 7 March “A New Voice Chimes In”). I was trying to get the media interested in this then. However, no takers.

  8. Newbie says:

    GEEZE, this was my first visit to this site and it appears that “tryagain” is hyperventilating. Is “tryagain” really Lou Magazzu? If so, someone better call 911 because it sure looks like “tryagain” is about to explode.

  9. biggassbass says:

    I doubt that the press will bother to look at this site

  10. Try to answer this says:

    So here is the blowhard losing sleep over our comments here.

    tryagain Says:
    September 20, 2009 at 2:13 pm
    “MORE HALF TRUTHS AND MORE LIES”

    Answer this: What are HALF the truths? Doesn’t that mean your comments support a lie? Leaving out part is a deception and is considered by reasonable people a lie. You can’t get half pregnant you idiot.

    Also: Why won’t you comment on the Camden County political machine and it’s connection to lou.Are you afraid to touch that one? Again, I DARE you!

  11. Zero Interest says:

    If he received a $10k loan at zero interest it’s income right? He’s receiving a benefit from a tax exempt organization. He better be sure to claim the benefit on ho ’09 return! Public disclousre of finanaces can be a b1tch!

    I thought lou said the mony came from his PAC. If it was from his Pac then this applies….
    According to the IRS:

    A political organization must have its own employer identification number (EIN), even if it does not have any employees. To get an EIN, an organization must file Form SS-4, Application for Employer Identification Number. For more information about obtaining an EIN (including how to apply online), see Employer ID Numbers (EIN)

    LIAR!

  12. PoliticsSJ says:

    Lou Magazzu donated $35,000 to the CCDO is 2006 at an interest rate of 8.25%. Now the real question…where did Lou get the money from? Did he take a personal note from the bank at a lower interest rate and charge the CCDO a higher interest rate or did he loan money from his personal savings? If he charged a higher interest rate and made money or if he loaned the money and made all the interest, it must be declared as income just as Zero Interest said. Thhis should get interesting.

  13. Curious says:

    He charges his own party 8.25 interest rate for a loan to pay for his own campaign. The party in turn charges him 0% for a loan for his personal use that he alone approved for himself. Makes sense to me. One way Lou strikes again.

  14. WaterLou says:

    Hey I just called my bank to see if I could get a deal like that. I asked for a 0% loan if they would give me 8.25% interest on my savings account. GUESS what they said………..

  15. Sell me a bridge says:

    Hey I just called my bank to see if I could get a deal like that. I asked for a 0% loan if they would give me 8.25% interest on my savings account. GUESS what they said……….

    That’s funny!

  16. WaterLou says:

    ……….they said, “Who do you think we are; Lou Magazzu?????

  17. The difference between using his SS# as opposed to an EIN is the difference between federal investigation and state.

    Either way it appears to add up as fraud.

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