We all know that broke, friendless presidential candidate Newt Gingrich loves Tiffany & Co enough to have held a $250,000 - $500,000 credit account at the high-end jeweler. But did you know he loves the place so much he had a second, $500,000 - $1 million line of credit? And also he dyed his hair Tiffany blue?
Kidding about the Tiffany blue! But Gingrich did, in fact, have that second line of credit, which will be revealed on his financial disclosure filing. According to his spokesman Joe DeSantis:
["T]he Gingriches had a $500,000 to $1 million line of credit at Tiffany's... it has a zero balance, and it has been closed."
DeSantis added that all debts to Tiffany had been paid in full. He offered no details about when the second line of credit was taken out, what it was used for or when it was closed.
Why did Gingrich have two lines of credit? Partly because he loves shiny baubles. But mostly, we're guessing, because his wife Callista used to be a staffer for the House Agriculture Committee—the place where mining policy gets determined.
As for what this will do to Newt's campaign, well... if he still had the line of credit open, maybe he could have parlayed it into some desperately-needed campaign funds. But, uh, you need to have a campaign for it to get damaged, and right now Gingrich doesn't even have that. On the other hand... nowhere to go but up?