Bank Says Michigan Republican Party Defaulted On Half A Million Dollars In Loans And Stopped Making

 

The Michigan Republican Party has been mired in problems for the last 12 months, including meetings that devolved into violent feuds between party members. But their problems go far beyond leadership woes - The Party is apparently so broke that the bank now says they defaulted on a loan of $500,000 and haven't made payments in month. In fact, the Party has so little cash that they completely ignored the demand letters from the bank asking for immediate payment of the full loan amount. Ring of Fire's Farron Cousins explains what's happening.