Updated at 1:55 p.m.: The Associated Press has just moved the following by Shannon McCaffrey:
A review of records has found that Republican Nathan Deal did not disclose two active loans on which he and his business partner owe a combined $2.85 million.
The loans from two banks were made to Deal and Kenneth Cronan in 2009. They do not appear on the financial disclosure Deal filed with the state Ethics Commission when he announced he was running for governor.
Deal on Thursday called it an “oversight” and said he planned to amend his financial disclosure with the state. He said the debts were business loans for his Gainesville Auto Salvage business. Real estate records list only Deal and Cronan as the guarantors.
One $350,000 loan is from Verity Bank in Winder, Ga. The other is a $2.5 million from Branch Banking and Trust Co. in Gainesville, Ga.
Original post: Democrat Roy Barnes and Republican Nathan Deal just finished a detailed-filled, hourlong debate on education policy before the board of trustees of the PAGE Foundation.
We’ll get to those details later. Immediately afterwards, Deal was surrounded by a scrum of reporters still chasing the details about his financial condition.
Deal said he had no plans to release more details about his tax returns – but acknowledged that his debts are larger than the $2.3 million that an AJC article of Tuesday outlined.
Lori Geary of Channel 2 Action News asked the former congressman whether his liabilities included a loan to his auto salvage business of between $1 million and $5 million.
Deal said he and a business partner, with whom he shares ownership of the company, did:
”We are both guarantors on that loan. It’s a corporate loan, and it’s guaranteed by those of us who are the corporate stockholders. “
The Republican nominee was also asked whether a meeting with state Revenue Commissioner Bart Graham – the topic of a federal subpoena in June – was prompted by his fiscal difficulties. Deal said no. That meeting and others, he said, were prompted by his worries that the state would be allowing uninspected, damaged vehicles back on the road.
“I think that’s something the press ought to be concerned about,” Deal said. “I think you’re derelict in your duty.”
Deal said he would not release any further financial information. Earlier this month, he released 28 years’ worth of tax returns, though not any supporting documents. Said Deal:
”I have released my tax returns for 29 years. I have revealed my tax returns, I have released the documentation for the 18 years I was a member of Congress. I think that is full disclosure.”
After Deal left the room, Barnes declined to comment on his GOP rival’s financial situation, but said this:
”We need somebody that makes sure they can give full attention to the state at this very critical time. We need somebody that doesn’t need on-the-job training, and can give their full attention to it. I’ll allow him to answer those questions, but the message I would have is – let’s disclose everything.”
Deal insisted that Barnes reveal how many cases he’s had before judges he’s appointed. Barnes said he could only find one instance, and that the jury came out with a $400,000 judgment against an insurance company. It was not appealed.
For instant updates, follow me on Twitter, or connect with me on Facebook.