NYT: Clarence Thomas’s $267K RV Loan Was Forgiven

The New York Times reports:

The terms of the private loan were as generous as they were clear: With no money down, Justice Clarence Thomas could borrow more than a quarter of a million dollars from a wealthy friend to buy a 40-foot luxury motor coach, making annual interest-only payments for five years. Only then would the principal come due.

But despite the favorable nature of the 1999 loan and a lengthy extension to make good on his obligations, Justice Thomas failed to repay a “significant portion” — or perhaps any — of the $267,230 principal, according to a new report by Democratic members of the Senate Finance Committee.

“This was, in short, a sweetheart deal” that made no logical sense from a business perspective, Michael Hamersley, a tax lawyer who has served as a congressional expert witness, told The New York Times.

Read the full article. Gift link.

Justice Clarence Thomas borrowed more than a quarter of a million dollars from a wealthy friend to buy a 40-foot luxury RV, did not repay it, and had the loan forgiven.

Can’t wait for all the “students should pay their loans” conservatives to condemn him. https://t.co/jFx3rGspCt

— Keith Boykin (@keithboykin) October 25, 2023