Judge OKs Mondale’s $50,000 settlement with Petters receiver

  • Article by: David Phelps , Star Tribune
  • Updated: April 24, 2013 - 5:51 AM

Ted Mondale got a $150,000 personal loan from Tom Petters.

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YoganaziApr. 24, 13 6:53 AM

Mr. Mondale should make every attempt to pay the entire loan amt back to the receiver. He can modify his life style

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swmnguyApr. 24, 13 8:10 AM

Tom Petters was everywhere and into everything before his Ponzi scheme collapsed. I remember working with him at various charity gala functions. The guy spread his money everywhere. He was a media and society hero. Doug Kelly has an enormous task on his hands. I doubt there is any prominent Minnesota figure or organization that didn't have at least some Petters money. I remember thinking it was a little weird at the time; how did Petters have all that money, running liquidation outlets, Sun Country, Polaroid; all these low-end operations. But like everyone else, I believed the media meme that Petters just had the Midas touch, unlikely as that seems in hindsight.

The fact that Ted Mondale doesn't have much money is proof that Fritz Mondale is far more honest than just about anyone else of his political prominence. How many political figures started out with no money, made the low 6-figure salaries paid to national politicians, and then somehow became multi-millionaires without adequate explanation?

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ekoskiApr. 24, 13 8:30 AM

Sure we should always feel sorry for the uber rich! They usually land on their feet meanwhile what are the investors in Petters ponzi scheme getting back.

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groover6Apr. 24, 13 8:33 AM

Mr. Mondale is considered part of "the rich" by Mark Dayton and the DFL. Being rich, Mr. Mondale should be able to pay off HIS DEBTS. If not, how can he affort the DFL tax increases? What other private debt does he have? Does he have a personal loan with Ziggy?

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mplsjohnApr. 24, 13 8:54 AM

I realize that it may be a hardship to fork over $150,000, but I'll bet he could do it. I'd be curious what his assets are...car, house, cabin, inheritance in the future, etc. Lets strike a better deal and have him pay back $15,000 for 10 years interest free. Seems reasonable to me. No one says what happened to the $150,000 or his total assets. It is hard for me to believe he's hard up. If his name was Smith would he get this deal?

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maddyinmplsApr. 24, 1310:06 AM

How much of that $750,000 Tom Petters paid to Mondale's Nazca Solutions went directly to Ted Mondale? Who bought Nazca? Why is Ted Mondale qualified to run anything in government when he was such a spectacular Ponzi-scheme subsidized actor in the private sector?

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basia2186Apr. 24, 1311:32 AM

Is Mr. Mondale getting a 1099 for the FORGIVENESS of 100K of debt? I got 3 -1099s when I negitiated debt (that was current!) on 3 credit cards. This guy should not be working in the public sector,I don't care who his daddy is!

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lawstarApr. 24, 1310:27 PM

Is it any surprise that a judge with a noted Democrat history would approve a one-third payback from another noted Democrat ? Why did Mr. Mondale borrow $150,000 if he never had the ability to pay it back?

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twinkytimeApr. 25, 13 6:43 AM

A public figure that accepts money now its time to pay it all back Ted. Do the right thing.

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gargoyle52Apr. 27, 13 5:09 PM

So, Ted gets $100,000 for free. He has a good paying job. Why not set up a payment plan and have him pay off the entire amount. He is just another corrupt public official making money because of his position. He is a disgrace to his family.

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