Wednesday, May 30, 2012 | 10:23 a.m.
A federal judge in California has issued a devastating judgment against Danny Tarkanian, family members and others in a long-running legal case that could have an impact on his bid to be the GOP nominee for the new congressional seat.
The judgment, which I have posted at right with two other relevant documents, comes at the culmination of a legal battle over property in Riverside. Tarkanian claimed this morning to be unaware of the judgment, saying, "This certainly isn't good news." But he vowed to appeal.
This part of the FDIC's argument is particularly damning:
"The Borrowers’ principals (collectively “Guarantors”) personally and
unconditionally guaranteed repayment of the loans to LJB. The Guarantors’ Answer
admits they executed the Guaranties, and the Guaranties expressly waived any
defenses other than repayment of the loans. The Borrowers defaulted in their
performance of the loans, and the Guarantors have failed to satisfy the indebtedness.
This is sufficient to enter judgment in FDIC-R’s favor on its Complaint for Breach of
There's no way Tarkanian, his mother, Lois, a Las Vegas city councilwoman, can afford the judgment. And this has to make Steven Horsford's minor debts as a young man, fed to a "newspaper" by the National Republican Congressional Committee, pale in comparison.