Rep. Richardson failed to disclose loan from strip club owner

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The latest on the triple-default, single-foreclosure Democratic congresswoman from Long Beach: ‘Rep. Laura Richardson initially failed to disclose economic interests -- including a loan from a strip club owner -- when she served on the Long Beach City Council, public records show,’ the Long Beach Press-Telegram reports.

From the Press-Telegram: the loan in question was for $20,000, in 2000, and came from a family trust controlled by Jerry Westlund, who owns the Fantasy Castle strip club in Signal Hill and 13 other strip clubs in seven states. Two years later, Richardson -- who had not yet disclosed the loan -- voted with the council to place Westlund’s father on the city’s board of examiners. She eventually disclosed the loan in 2004.

It gets more complicated: Westlund tells the newspaper that the 60-month loan, at 15.5% interest, was made to Richardson and her then-husband, Long Beach Police Chief Anthony Batts, but Batts strongly disputes that, and the newspaper reports that only Richardson’s name is on public records of the loan.

Here’s where it really gets interesting: ‘Westlund said he asked to be paid back in about 2005 when Long Beach police began showing up with frequency to investigate his Fantasy Ranch strip club, which was on South Street in Long Beach.’

Richardson declined to talk to her hometown paper for the story.

Analysis: Wild stuff, huh? I’m not the sharpest knife in the drawer, but I’m not entirely convinced this $20,000 was viewed as a loan when the money originally changed hands, if you catch my drift.

I know it’s far afield from home values in the San Fernando Valley, but this woman does represent a good part of Los Angeles County in Congress, and she has become a poster child for financial irresponsibility at a time when Congress is weighing who is responsible for the mortgage mess. Exactly what would it take for the Republican Party to field a competitive candidate against her?

Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Hat tips: Uncle Billy, Dr. Housing Bubble and others, via e-mail.
Photo credit: L.A. Times