Your morning jolt: Has Oxendine unleashed an army of loan companies on Georgia consumers?

Topic below include: John Oxendine, Ralph Hudgens, Republican Governors Association, Roy Barnes, Nathan Deal, Jim Marshall, Austin Scott, Sanford Bishop, Mike Keown.

The GOP nominee for state insurance commissioner suspects that John Oxendine, the man he seeks to replace, is unleashing an army of high-interest, small loan companies on Georgia consumers during his last days in office.

joxendine

State Insurance Commissioner John Oxendine/AJC

In a Sept. 16 letter, State Sen. Ralph Hudgens of Hull, on legislative stationery, accused Oxendine of issuing an “extraordinary” number of industrial loan licenses. The permit is a much-coveted permission slip to jump into the unsecured loan business, issured solely on the insurance commissioner’s say-so.

Moreover, Hudgens asks Oxendine – who finished a stunning fourth in the Republican primary for governor – to essentially sit on his hands through the end of the year.

“It is important that nothing be done in the final weeks of your tenure that would create perception or other problems, either for you or the next commissioner,” Hudgens writes.

Oxendine said he’s doing nothing wrong – or unusual. “[The letter is] obviously based on gross misinformation. Nothing against Ralph. I think he was just naively going by what a bunch of people told him,” Oxendine said in a phone interview late Thursday.

Asked if he were issuing an “extraordinary” number of loan license, Oxendine said, “Nope.” He said he had no idea how many he had issued, but could find out.

rhudgens

GOP nominee for insurance commissioner Ralph Hudgens/AJC

“The ones in Atlanta – I really don’t pay any attention to. The standing rule is, anybody that wants one in Atlanta – unless there’s an issue about your character, anybody can have one,” the insurance commissioner said. “So I don’t even pay any attention to those, don’t even really look at them. The staff makes the recommendation. They always recommend approving anything in Atlanta. I don’t recall approving anything outside of Atlanta, but I’d have to check.”

Hudgens faces Democrat Mary Squires, a former state lawmaker, and Libertarian Shane Bruce in the Nov. 2 general election.

Read the entire letter here. But below is a healthy excerpt. Wrote Hudgens:

…I have been told you have issued an extraordinary number of Industrial Loan Licenses during this election year and that you are contemplating the issuance of many additional licenses. As you are full aware, there is a long established standard of convenience and use that must be met before an Industrial Loan License may be issued.

You have defended this standard, both in court and before the General Assembly. A flood of new licenses would have potentially far reaching consequences especially in these uncertain economic times when many Georgians are struggling with record levels of personal debt.

I would ask that you refrain from modifying this standard before you leave office and that you suspend the issuance of new Industrial Loan Licenses. Let the next Commissioner assess the economic situation and determine the need. Please do not put him or her in the uncomfortable position of subjecting any “last minute” licenses to special scrutiny.

….Finally, I would ask that you refrain from making any rulings that are not fully supported by the written recommendation from the technical and professional staff of the Department. It is important that nothing be done in the final weeks of your tenure that would create perception or other problems, either for you or the next Commissioner.

That last paragraph is telling. With GOP nominee for governor Nathan Deal struggling over reports of his finances, Republicans don’t need any unexpected shoes to drop between now and Nov. 2.

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The AJC’s Politifact Georgia has dealt the Republican Governors Assocation a “pants on fire” for claiming that Democratic nominee for governor Roy Barnes actively sought to give illegal immigrants the right to vote. Read about it here.

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In the Macon Telegraph, Erick Erickson offers this selling point for Republican Austin Scott in his challenge of U.S. Rep. Jim Marshall, D-Macon:

The biggest challenge for Marshall is going to be Robins Air Force Base. As I’ve noted before, Robins has two major competitors in the BRAC Commission reviews: Tinker Air Force Base is in the 4th District of Oklahoma and Hill Air Force Base in the 1st District of Utah. Both are represented by Republicans. If the GOP does take back the House, as is likely, having a Democrat representing Robins becomes a liability to Robins.

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Meanwhile, in southwest Georgia, U.S. Rep. Sanford Bishop, D-Albany, has signed onto a push to retain many of the Bush tax cuts set to expire at the end of this year – dividends and long-term capital gains, in particular. From the Albany Herald:

“With the state of our fragile economic recovery, now is not the time to raise taxes that would impede job creation and take money out of the pockets of our nation’s seniors,” Bishop said in a news release. “Seniors rely on dividend income to supplement their fixed Social Security payments. We owe it to our seniors to look out for them in this time of economic instability.”

The campaign of Republican Mike Keown, who is running for Bishop’s District 2 seat, said Bishop is now attempting to ride former President George Bush’s coattails.

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50 comments Add your comment

Ralph

September 24th, 2010
10:00 am

The AJC continues its hit pieces on Deal.

Deal’s personal finances are only an issue because his opponent and of course the AJC Democratic party arm are trying to make it a tempest in a teapot. Computing net worth is as much of an art as an science since many assumptions must be made. We all know Federal personal financial disclosure rules are absurdly lax, and only require generalities that result in huge ranges of net worth. It appears that Deal has now had an forensic accountant hone his financial picture to show he is not insolvent as the AJC claimed based on the generalities he previously produced. Nothing sordid is involved. He now lists himself as a creditor to his daughter’s bankruptcy, he accounts for his updated personal and business assets and liabilities, and updated his IRA value. But, of course, the AJC shill and Barnes campaign will try to make it LOOK like something underhanded is going on. Politics as usual.

Jon

September 24th, 2010
10:04 am

So that’s what Ox has been up to. He’s been unusually quiet since July, but I guess an embarrassing primary performance will do that to you…

DMB

September 24th, 2010
10:05 am

is this related to this thread on Ox? His personal finances are an issue because he might possibly lead our State (God help us all). He’s shady and people realize that. I haven’t seen a good reason not to vote for Barnes. Deal scares me.

Ralph

September 24th, 2010
10:08 am

You must have missed Barne’s four years in office as Governor, and the fact the electorate voted out an incumbent if you don’t see a good reason not to vote for him again.

Why isn’t the AJC pointing at Barnes finances and how he got rich as a blood sucking lawyer?

DMB

September 24th, 2010
10:12 am

Nope – didn’t miss it. Actually looking forward to someone who has some experience in running the State as opposed to someone who dodged his way in and out of Congress and doesn’t have the common sense to manage his finances well.

bart

September 24th, 2010
10:21 am

I don’t see the AJC doing “hit pieces’ on Deal. They are just reporting the news. Deal is doing hit pieces on himself by his questionable actions.

whiterabbit

September 24th, 2010
10:23 am

Ralph, I am a CPA, indepentent voter and this is what concerns me:

Why will Nathan Deal not disclose his complete tax records and business schedules? He could do this in an hour and have finished all this weeks ago. If the accusations are false then why not prove them false?

There must be a reason he does not want his FULL tax returns under scrutiny? My bet is he has undisclosed income or similar and we all know he could never have lived so high on the hog in Hall County otherwise.

Lynn43

September 24th, 2010
10:24 am

I wish there was a law that even in a campaign ad people could be sued for telling lies about a candidate when information to the contrary is right before your eyes. (RGA’s lies) This would sure help people know for whom to vote. Deal created his own “mess”-right or wrong, by leaving out information or by incorrectly stating facts. We still don’t have correct information. There has never been any scandal associated with Mr. Barnes except that which has been created by his opponents.

I was a teacher (now retired) when Mr. Barnes was governor, and I never felt threatened by any of his proposals. I am now a Board member, and, living through what the Republicans have done to public schools over the last 8 years, I support Mr. Barnes 100% even though I will probably vote Republican for State School Superintendent. I am totally independent and can look at all sides for what is best for Georgia’s students.

When Hell Freezes Over

September 24th, 2010
10:26 am

I would truly be amazed if a day went by without something negative appearing in the AJC concerning Deal. It would appear that policy dictates “When you get a man down, kick him hard! If there is nothing new to report, re-hash everything you’ve already said!”

Aaron Burr V. Mexico

September 24th, 2010
10:31 am

And I would truly be amazed if a Republican actually allowed something like personal finances or illegal activity stop them from voting for their candidate.

I can see Russia from my house

September 24th, 2010
10:32 am

Nathan and Oxy, come on up to Alaska and help me keep an eye out for the Russians. I’ll show my appreciation for your talents – We’ll roast a wolf!

You betcha!

ByteMe

September 24th, 2010
10:37 am

Erick Erickson offers this selling point for Republican Austin Scott in his challenge of U.S. Rep. Jim Marshall

Really, Erick? So Robins got closed between 2002 and 2006 by Republicans because the base was represented by a Democrat? I don’t recall that happening. Sounds like someone is trying to spread some fear out there.

Ralph

September 24th, 2010
10:42 am

Other than one politician using it as a wedge, why should a candidate publish his entire tax records? Should that be a requirement for CPA’s, doctors, reporters, teachers, etc.? This is an absurd straw dog.

Deal leads in the polls because of his political stances. Folks who read the AJC and comment are generally aligned on the left with the AJC, so here it APPEARS Deal is not going to win. Calling the Rasmussen poll leaning to right while highlighting a Cox/AJC/WSB poll is gross bias. Barnes is all over the TV and still losing. His only chance is to hit a home-run in a debate, otherwise he is certainly going to be the next Georgia Governor – despite the AJC which has more or negative connotation in this state than positive.

The Cynical White Boy

September 24th, 2010
10:46 am

Sure is funny how the AJC names Deal (a white male Repub) by name in screaming headlines…

BUT…when the ethics issues involve a BLACK DEMOCRAT??? No names are used in headlines…it’s “More Ethics Issues For Rep”

Uh huh, can you IMAGINE the screaming headlines if Nathan Deal had funneled scholarship money to family and employees the way Sanford Bishop did?

Roll Tide!

September 24th, 2010
10:50 am

Thank you Lynn43.
Does no one remember 2002? Bush came down here to campaign against Max Cleland. It didn’t matter that it was Saxby or Bozo the Clown. Sunny rode in on the coat tails of the wave of Bush lovers. Plain and simple.
Barnes did more for Georgia in 4 years than Sunny has done in 8.
Finally, for all of those that love to call Barnes “King Roy”, you are hypocrites. Who does Sunny think he is to deny the voters the right to vote on Sunday sales. Sounds just like Barnes denying the voters the right to vote on thbe flag.

Wounded straight Vet

September 24th, 2010
10:56 am

Erik Erikson is a fraud who should be taken out back.

The Centrist

September 24th, 2010
10:59 am

The AJC is not pointing at Barnes finances and how he got rich as a blood sucking lawyer, because he disclosed his finances and has been upfront with how he got rich as a blood sucking lawyer without having no-bid contracts.

Macon C.P.A.

September 24th, 2010
10:59 am

I used to be a builder before becoming a Forensic C.P.A. but I use the same motto: “Build to suit.” Just tell me what you need your financial documents to say. Convenient huh?

When Hell Freezes Over

September 24th, 2010
11:11 am

Lynn43:

“There has never been any scandal associated with Mr. Barnes” reported. How would we know? Obama never had any negative press from the New York Times, ABC, NBC, CBS, CNN or MSNBC during his campaign concerning his associations with very questionable people. He was never asked any “tough” questions by them either. I say that only to emphasize the fact that the media is biased, and that the bias in the gubernatorial election seems to favor Barnes.

The Centrist

September 24th, 2010
11:20 am

Senators carry more rate regarding base closings than a single US representative. Under Johnny and Saxby’s watch, Georgia has had four base closings. Where is the outrage?

Ralph

September 24th, 2010
11:21 am

The leftist media starts in the schools of journalism and continues weeding out anyone who isn’t leftist in newsrooms. CNN is trying to tout itself as nonpartisan because it is to the right of CNBC, yet it has Democrats at almost every anchor and commentator desk. Their ratings like most other leftist organs (AJC included) are dropping as internet and cable TV alternatives are available. But the built in left bias is stronger than the public rejection in newspapers, magazines, and broadcast TV.

The Centrist

September 24th, 2010
11:23 am

Sorry…Senators carry more weight regarding base closings than a single US representative. Under Johnny and Saxby’s watch, Georgia has had four base closings. Where is the outrage?

whiterabbit

September 24th, 2010
11:30 am

@Ralph said :Other than one politician using it as a wedge, why should a candidate publish his entire tax records? Should that be a requirement for CPA’s, doctors, reporters, teachers, etc.? This is an absurd straw dog.

Ralph. You are seriously trying to tell us a candidate for Governor of a state with a budget of 17.2 billion dollars shouldn’t have to disclose his tax records? How about if he was a child molester? I guess he can hide that as well if he is a Repulican and running for superintendent of corrections?

Ralph you don’t want whats best for GA and would rather put a crook in to satisfy your ideology of hatred and total paranoia to Obama than do whats right.

Dick in Gainesville

September 24th, 2010
11:31 am

Nathan Deal was looking to hire an accountant. He had a 1 question test. The 1st Candidate came and Deal asked what is 1+1. The accountant said, well 2 of course. He asked the 2nd accountant what 1+1 is. The 2nd Accountant closed the door and whispered in Deal’s ear what do you want the answer to be? Nathan hired him on the spot.. Do any of you think Deal’s cabin is worth $900,000?

findog

September 24th, 2010
11:36 am

Ralph,
What were you reading?
The story I was on his updated finances portrays the congressman in a very favorable light, even now explaining how he is capable of meeting his obligations so that it is no longer an issue

Macon

September 24th, 2010
11:37 am

If Scott would sign the no earmark pledge, I’d vote for him but he won’t so I’ll be voting for Marshall. Why can’t the Republicans come up with a conservative to run against Marshall.. 3 RINOes in a row. I would have voted for Scott if he had stayed in the Governors race, he was the class of the field there but that’s not saying much.

Stephanie Angelo

September 24th, 2010
11:42 am

Over the past few years, I have received many solicitations from the Republican Party asking for money. Being a true conservative, I have always responded this way: When the Republican Party decides to follow their own platform instead of bending at every whim, I would start supporting them financially.

For the past few weeks I have been following two stories: the rise and eventual Senate primary win of Christine O’Donnell in Delaware, and the downward spiral of Republican gubernatorial candidate Nathan Deal. The GOP tried to pull the same stunt in Delaware that the Republican Party pulled in Georgia: “Our candidate is the only one who can beat the Democratic candidate.” We believed them; Delaware did not.

So here we are with a Republican candidate who has more baggage than American Airlines, and I honestly am ashamed that, once again, I will be voting for the lesser of two evils thanks to the rank-and-file GOP.

We won’t know until November which strategy was best for the conservative movement, but right now, I am ready to change my party to “independent” until the Republicans figure out what being “conservative” means.

Retired Soldier

September 24th, 2010
11:43 am

Macon-

Does Marshall use earmarks? Congrats, I guess you want Nancy P. to continue as Speaker. That doesn’t sound very conservative to me.

Bob

September 24th, 2010
11:56 am

Remember, King Roy sued our state over voter I.D., meaning he wanted illegals and voter fraud to get Democrats elected. Plus he’s an Obama puppet.

When Hell Freezes Over

September 24th, 2010
12:05 pm

Macon:

I wouldn’t sign that pledge if I was a candidate – and I am also a conservative. My thinking would be: unless everyone signs that pledge and earmarks no longer exist, I will not sign the pledge preventing me from bringing back to my constituents a portion of the taxes they have paid.

Atlanta CPA

September 24th, 2010
12:12 pm

I have been looking at some of the numbers in this morning’s Deal Financial Disclosure and some things just don’t pass the smell test:
1.Here is a quote from Deal’s Sept 15 AJC disclosure.
“Deal bought the property seven years ago for $430,000, according to public records. On 5 acres, it features a main house of about 4,000 square feet, a 1,900-square-foot guest house and a pool. Deal listed the property for sale about a year ago for $985,000, its assessed market value, but has not found a buyer. ”

His Sept says “Residence in Gainesville — current value listed as $996,000 ”

Obviously if you try but can’t sell a house for $996,000, it is NOT worth that much.

2. His Sept 15th says” The only significant asset Deal plans to keep is a cabin in Habersham County, aides said. That property, too, is assessed at about $700,000; on the financial disclosure he filed in May, Deal said he owed $610,000 on the mortgage.”

On Sept.24 the same asset is “Home planned for retirement in Demorest — current value listed as $975,000″

I don’t know how the value has grown by nearly $300,000 in 9 days but I have a nice house in the mountains that is worth about 60% of what I paid for in 5 years ago. I f I were a betting man I’d say this asset is pretty much under water.

3. Much of Deal’s other listed assets are in commercial/ undeveloped land. How did Deal’s accountant come up with the values? If he is using Cost, they are way overvalued, most of my developer clients that are this heavy in commercial property are now in bankruptcy.

4. Why did Deal not use an independent accountant from the Atlanta area who is familiar with the area rather than a retired supporter from Tifton?

I end as I started Deal’s latest financial disclosures simply don’t pass the smell test.

Atlanta CPA

September 24th, 2010
12:15 pm

Correction

His Sept 24th says “Residence in Gainesville — current value listed as $996,000 ”

Macon

September 24th, 2010
12:18 pm

When Hell Freezes Over& Retired Soldier… Gentlemen you are part of the problem in the GOP not the solution.

SWAT Native

September 24th, 2010
12:21 pm

How can someone be both “King Roy” and an Obama puppet at the same time?

Ralph

September 24th, 2010
12:25 pm

ATL CPA, Stephanie, Centrist and others here – you could all write or be editors for the AJC with your red herrings, implications, innuendos, and obvious Democrat bias. Your points don’t have anything to do with politics, but attempts at discrediting Deal in favor of Barnes. That is fair game for posters even if they masquerade as centrist, conservative, or independent – but my gripe is with the AJC and other partisan media outlets.

I’ll leave this site for the weekend – carry on among yourselves. Good luck to the few non-Democrats who venture here.

Retired Soldier

September 24th, 2010
12:35 pm

Macon-

How are we part of the problem? I asked one simple question, was it to difficult for you? Can you not reply about your desire for Nancy P. to continue as Speaker?

We are the problem? If that is true then you are no conservative, much leass a republican.

Retired Soldier

September 24th, 2010
12:37 pm

whiterabbit

September 24th, 2010
12:40 pm

Ralph enjoy your weekend. If I were you I would spend it up in Hall County as you will probably find enought ignorant idiots up there who also believe Nathans BS to make you happy.

Combat Vet

September 24th, 2010
1:02 pm

Atlanta CPA 12:12 pm

Read Dick in Gainesville comment to know how Deal hired his accountant..Too bad he is going to have to restate his financials again..

When Hell Freezes Over

September 24th, 2010
1:03 pm

Macon:

If he signed the pledge and earmarks continue, he would not be able to bring back to his district any tax dollars paid in by his constuents. If he broke the pledge in those circunstances, you could then claim he lied. He can’t win against that stacked deck. I’m sure you would be howling louder than anyone else – whichever way it went.

I submit that you haven’t really thought this through – and that, sir, is your problem.

Combat Vet

September 24th, 2010
1:04 pm

Retired Soldier 12:35 pm

You paper pushers really hare war heroes don’t you?

Retired Soldier

September 24th, 2010
1:23 pm

Vet-

Didn’t know you are aware of my career in the Army. Just to make sure you really know what you are talking about, where was my first 3 year assignment?

We all expect an answer, don’t lose face with all your buddies on here.

When Hell Freezes Over

September 24th, 2010
2:20 pm

Retired Soldier:

Looks as if you’re going to be waiting for an answer for a while . . .

Retired Soldier

September 24th, 2010
2:30 pm

Hell-

Looks like combat vet is hunkering down in his fighting position. Where is Gen. Patton when you need him.

Robert

September 24th, 2010
2:43 pm

Between Sonny, Nathan and The Ox, you’d think the republicans really are angry at the folks who’ve kept them in office. Said the scorpion, “Why are you surprised? That’s what I am.”

YourDaddyWasRight

September 24th, 2010
3:35 pm

——-No matter what Deal and his GOP-donating CPA from Tifton have to say, he has shown that he is willing to hide bad information and lie about his own conduct. Anybody voting for Deal needs to go see a psychiatrist.

Alabama Communist

September 24th, 2010
6:34 pm

Meanwhile! The Al Capone Loan Company was accepted and started doing business by breaking 13 legs on Marietta Street today…………

roybama

September 24th, 2010
11:59 pm

“But the sheriff said that when he approached the GBI, the FBI and, eventually, then-Georgia Gov. Roy Barnes for help, he found little in the way of support. As the investigation grew, Sills said “The hardest thing I had to deal with were the politicians who didn’t want to believe what was going on in this case. … Political correctness and playing the race card, you don’t know how powerful that is.

Why would Roy Barnes try to thwart an investigation of a pedophile?

http://bibbrepublicanparty.com

Libertarian Shane Bruce

September 25th, 2010
10:07 am

Greetings All,

Stunning news about the Industrial Loan Licenses and some contradictions that really need to be resolved. One one hand the AJC is inferring that the Industrial Loan license is difficult to obtain but Commissioner Oxendine insists that anyone in Atlanta can get one anytime they wish, he even admits that the issuance of said permits is so routine that his staff handles them on their own. Astonishing.

Equally astonishing is the fact that the heir apparent, republican Ralph Hudgens is quite concerned about this flurry of soon to be Shylocks working over the expected surge of new customers our current economy is cranking out. My question is why? Is Ralph Hudgens truly concerned about down on their luck Georgians or are some of his campaign contributors starting to grumble about increased competition in “Industrial Loan” marketplace? Rent seeking corporations and republicans do a lot of business together and this looks like a classic example in action.

I can promise the citizens of Georgia that if elected, I will change this run away “Industrial Loan” process down at the Insurance Commissioners office. I also promise to take a long and hard look at every permit Commissioner Oxendine issues between now and the end of his term, as well as the rest of the filing cabinets from the last 16 years.

Shane Bruce
Libertarian Candidate for Commissioner of Insurance

[...] Mel on Sep 25, 2010 at 12:16 PMWhat is it with these people? The GOP nominee for state insurance commissioner suspects that John Oxendine, the man he seeks to [...]