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July 09, 2010

  • News:  Brown Admits To Serious CC Debt

    The dust has barely settled on the news about Florida's Republican party leaders that abused government credit cards when we now learn about the difficulties of a Washington D.C. council member. Kwame Brown (D-At Large) who was just endorsed by the D.C. Chamber of Commerce as the candidate of choice to chair the District's legislative body hasn't done a very good job of managing his own credit card spending and personal finances. Brown acknowledged on Thursday that he has maxed out three of his credit cards totaling over $50,000. This puts a new spin on the Chamber's decision to name Brown the Chairman of an entity that oversees the agency's finances. One might wonder how Brown will be able to effectively manage the Chamber's finances to promote growth and stability when he has been so financially negligent with his own finances.

    Brown is expected to succeed Council Chairman Vincent C. Gray (D) who will be moving on to the Mayoral bid. After receiving the Chamber's endorsement, Brown announced that he and his wife had indeed maxed out his credit cards. The couple also said that they have negotiated with the credit card companies a repayment schedule and are following a strict budget. Using the country's economic recession as an excuse, Brown said his family had undergone the same economic difficulties as other American families. According to News4, Brown and his wife also owe a large amount of late fees and attorney fees. In the scheme of things, how can Brown be expected to manage a $550 million gap in the Chamber's budget for 2011?

    Brown said his credit card problems will not affect his ability to spend and save the Chamber's money. He explained his financial woes as occurring over a period of years because of violin lessons and after school child care. The issue is sure to remain in the forefront as Brown's race against former council member Vincent Orange who has already taken issue with the council's excessive spending.

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