Congressman Tom Graves: No Financial Wizard

July 22, 2011

Congressman Tom Graves claims to be a champion of fiscal responsibility in Washington DC, yet he is attempting to invalidate his own defaulted bank loan worth $2.5 million here in his own state.

The Congressman’s unique argument? That the bank should have known he couldn’t repay the money, and that it is the bank’s fault for approving the loan in the first place.

The Chattanooga Times Free-Press reports that Graves and his business partner failed to pay on the debt for five months before the bank finally declared the loan in default. Coincidentally, Graves is advocating a path forward in DC that will cause the nation to default on its debt as well.

Tom Graves is no financial wizard. All Georgians should implore Congressman Graves to conduct the nation’s business better than he conducts his own.

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