Last year, Sen. Marco Rubio of Florida appointed his longtime friend and financial adviser Bernie Navarro to an advisory committee that helped select potential nominees for federal judgeships, even though Navarro had no law degree and no legal experience. Just three months earlier, Navarro — who runs a private equity mortgage lender — extended Rubio a short-term "bridge loan" of $850,000 that allowed the Republican senator to purchase a house.
To be clear, there is nothing inherently unethical or suspicious about taking out a bridge loan. As the name suggests, they are often used in business or real estate transactions to bridge the gap between more conventional and permanent forms of financing. Homeowners can use bridge loans, for instance, to complete the purchase of a new home while they wait for their current home to sell, as was apparently the case with Rubio.
