10-12-2010
Ron Sparks is the Democrat nominee for Governor in Alabama.
Sparks trails a weak Republican candidate by 20%
Sparks has been very open in the fact he thinks legalized gambling in the forms of a Lottery and Slot machines are the answers to all of Alabama's problems .
Sparks took out a $500,000 loan at River Bank.
Artur Davis questioned the loan ,and banking analysts said at a minimum, a typical lender would require a salary ranging between $144,000 and $156,000, as well as $625,000 in debt-free real estate as collateral, to make a $500,000 loan.
Sparks earns a $79,026 salary as state agriculture commissioner. His Montgomery home is assessed at around $240,000, although Sparks has said that its actual value is between $300,000 and $350,000. He listed no other income or real estate holdings in his latest filing with the Alabama Ethics Commission and has said there were no co-signors on his loan.
Sparks told the Associated Press that he had no co-signor.
Sparks has not answered questions about whether a third party provided collateral and has declined multiple interview requests about the matter
Sparks also told the Associated Press that he owns a lot on Lookout Mountain in northeast Alabama, which he did not list in required financial disclosures. He did not say the size or value of the land.
Read the complete story here
Sparks returned the loan and said it was not needed anymore .
Sooner or later the details of the loan will be made public .
When Spark's campaign donors are made public , will anyone be surprised to find out how much they have in common with the indicted " Montgomery 11" .
I think Spark's financial dealings might be one the most important set of facts to come out of the whole investigation.
Prediction : Sparks has little or no chance of winning the Governor's race and if he is pulled into the investigation , it will be after the November election .
Sparks will be so damaged by his association with people and entities under investigation that his political career is over
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