NATION : Loans to Sen. Gore OK, Panel Finds
Sen. Albert Gore Jr. didn’t get favored treatment from banks that loaned him $1.6 million for his unsuccessful run for the Democratic presidential nomination last year, the Federal Election Commission said today.
Election commission auditors initially questioned whether some of the banks making the loans to the Tennessee senator had gotten enough collateral and assurances of repayment. Four of the banks are in Tennessee, and the other is in the District of Columbia.
Gore’s campaign argued that the loans had been repaid in full, which should serve as the ultimate proof of the soundness of the decision to lend the money.
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