Dem Congressman Didn't Pay Off Secret Loan Because He Was Waiting for Interest Rates to Fall or Something

More openness and transparency from a member of the Most Ethical Congress Ever!

This one is so laughable Greg Meeks should be drummed out of Congress just for coming up with such a lame excuse.

Queens Rep. Gregory Meeks finally fessed up Friday night about why he decided to wait three years to pay back a $40,000 secret loan.

It was the economy, stupid.

Meeks claimed he suddenly made his first payment last month to get a better interest rate.

"When Ed Ahmad loaned me $40,000 in January 2007, interest rates were as high as they have been in nearly a decade. Today, interest rates are as low as they have been since the 1950s."

The Queens Democrat had been refusing to explain why he made no payments on the loan from Ahmad, a local businessman, until the FBI showed up.

The Daily News reported that in January 2007 Meeks received a $40,000 personal loan from Ahmad to help pay for an opulent home he had just built in Jamaica, Queens.

It was a no-interest loan with no due date, the sources said, and Meeks made no payments on it over the next 3-1/2 years.

He also did not disclose the loan on House documents in 2007 and 2008, as required.

In May, the FBI questioned Ahmad about the loan, and the businessman asked for the money back, sources said.

On June 18, Meeks obtained a $59,650 loan from a company owned by a major Democratic fund-raiser, Dennis Mehiel. Yesterday, Mehiel said that Meeks approached him and he was happy to help his longtime friend.

"He asked me if I would advance him the funds because he wanted to pay off the personal loan that he owed this guy," Mehiel said. "I think he's an honest guy. He's a good friend."

He said Meeks made it clear "time was of the essence," so the transaction was completed within a week.

He declined comment on the FBI probe but made clear the criminal probe did not give him pause.

"I think Greg is good for the money and if he isn't, I got his house," he said.

Not only does Mehiel have Meeks' house, he seems to have much of the New York delegation in his back pocket.

Mehiel and his wife have donated nearly $493,000 to Democratic Party candidates and committees since 2004.

The top beneficiaries include Hillary Clinton ($55,800) and New York Sen. Kirsten Gillibrand ($18,100).

Mehiel and his wife, Karen, donated $9,600 to Meeks on July 30, 2009, records show.

He did not return calls for comment but told The New York Times in February, "I'm a longtime personal friend or acquaintance of virtually every Democratic member of Congress from New York."

Mehiel has also been donating large sums to Chuckie Schumer and Charlie Rangel.

Seems Mehiel is a prototype sleazebag Democrat.

Democrat Carl McCall said yesterday that he's known for years that running mate Dennis Mehiel had fathered two children with two women while married to a third woman - and that voters will be just as understanding.