For most people, getting a personel loans takes time, effort, and lots of paperwork. Over $ 55,000 in personal loans appear to have just “slipped the mind” of New York congressman Gregory Meeks. Gregory Meeks, 11 year representative, is a senior member of the House Financial Services Committee.
The “oversight” of Congressman Gregory Meeks
Gregory Meeks apparently had two personnel loans that he “neglected” in an “oversight” to list on his financial disclosure statements. In a statement to the Daily News, Meeks admitted that these loans existed, but did not reveal any other data about them. This $ 55,000 was given to Meeks in two loans – $ 40,000 and $ 15,000 in 2007 and 2008. In the disclosure document, these loans were listed as “personal unsecured loans.” Meeks also has a loan worth $ 50,000 to $ 100,000 with a Queens businessman.
Financial disclosure as it is needed
Members of the U.S. House of Representatives must make extensive financial disclosures. These disclosures are due by May 15 of each year and list assets, liabilities, incomes, gifts, board membership and real estate. Because his disclosure was sent in months late, the 2009 disclosure from Gregory Meeks was questioned. Meeks says the disclosure was late because he wanted to take on a full and careful review of his finances. Technically, these disclosures are intended to be public, though the House Clerk and Secretary of State, with whom they must be filed, do not post these disclosures online.
Consequences for Gregory Meeks?
This $ 55,000 oversight could effortlessly lead to official disciplinary action for Gregory Meeks. A violation of the ethics code could mean that Gregory Meeks may be charged under House Rule XXVI. Second, his congressional constituents could take action against him. These “small” cash loans probably won’t lead to any charges unless there are additional issues or improprieties with the administration of these loans. Ultimately, it could be the voters that to determine if Gregory Meeks’ oversight is enough to cost him his Representative seat.
