Tevlin: Ted Mondale took a ‘long and tortured’ path to right decision

  • Article by: JON TEVLIN , Star Tribune
  • Updated: April 29, 2013 - 9:17 PM

Last week Ted Mondale struck a deal with the receiver in the Tom Petters Ponzi scheme to pay back $50,000 of a $150,000 personal loan Petters gave him in 2005. The “clawback” was based on the notion that people shouldn’t profit from a crime, whether they knew about it at the time or not.

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LandsharkApr. 29, 1311:59 PM

Making $160K a year. He can afford $2,000 a month payment till done. I hope the IRS and MN Revenue cuts this public official zero slack.

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goferfanzApr. 30, 13 8:41 AM

It is a stunning story, both for the facts of the case and the lengths the media goes to avoid covering this story. I pretty much guarantee for all the ink the Strib devotes to Bachmann campaign issues, the final court decisions in her case wont come close to the court verdict delivered in Mondale's stunning clawback case. I salute Mr Tevlin's efforts here, but this is more proof it is good to be a DFL'er in good ol' Minnesota.

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jaytee1Apr. 30, 13 8:49 AM

nicely done Mr. Tevlin. I would add that Ted Mondale was the state legislator who carried Northwest Airline's favored legislation to keep the airport where it is. Northwest feared that a new airport would have more gates and therefore allow more competition. HOwever,Mondale argued that keeping the airport where it is was a cheaper option. Unfortunately, the tens of billions spent upgrading it has probably exceeded the cost of building a bigger and more efficient facility further removed from residential areas.

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jacksoncageApr. 30, 13 9:10 AM

I guess I couldn't pass judgment on this whole thing unless I knew the clawback deals all the other individuals received. Sure, it may stink, but does it stink any more than all the others?

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beaglemomApr. 30, 1310:16 AM

It makes NO difference what anybody else pays in clawbacks to make Mr. Mondale in the wrong here. So in 2005 when he took a $150,000.00 "loan" through Petters what was his intention of paying it back then? Based on the numbers are we to assume that NO PAYMENT HAS BEEN MADE ON THE LOAN IN 8 YEARS? This is cause for removal from any position that involves him in fiscal management. He clearly is not qualified!

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pommerApr. 30, 1311:40 AM

Now, what can we do? Who do we write to so that he is removed from these positions of power and prestige. Enough is enough. What a totally spoiled brat! And I'm a liberal Walter Mondale lover!!!!

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erickj111Apr. 30, 1311:43 AM

Isn't nepotism awesome?

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marketerApr. 30, 1311:54 AM

As a lifelong liberal, I am ashamed of this man and what he has done to his families name. This and the scam he is running with the Viking stadium fiasco is embarrassing and frankly criminal.

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eddie55431Apr. 30, 13 1:15 PM

The article mentions that the loan was considered forgiven at some point, and he would owe taxes on it. If that is the case, WHEN was it forgiven, and why hasn't Mondale already paid income taxes on the amount forgiven? If it was not forgiven by Petters prior to his bankruptcy then then loan is an asset of Petters, and should be entirely available to the court to repay his debt. What were the terms of the loan? Did Mondale default or the the receiver just decide to cut a deal because of either needing to close the books, or because Mondale had no assets to seize? Why wasn't Mondale forced to get the money to repay the loan? Someone with his cash flow undoubtedly could have borrowed the $150k to pay back in full. That information is critical to the story, so people would know what kind of deal Mondale got from the receiver. Sounds like Mondale was burning the candle at more than two ends (not a problem if it was all legal).

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tacotonyApr. 30, 13 1:34 PM

This is an embarrassment, for our state that over and over this man gets selected for public positions that should go to someone actually qualified. I recall reading in the star tribune prior to his selection that Ted Mondale was/is a great administrator. Thank you Mr. Tevlin for this piece, I really wish the Star tribune would put more resources into these selections prior to the selections.

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