Allen sacked for another big loss

Republican Sen. George Allen, son of the famed football coach, is in a heap of trouble in his race against Democrat Jim Webb. Compounding his problems are revelations about his racist proclivities, specifically his use of the "N-word" and the "Macaca" comment, caught in video. Well, his latest problem is an AP report that "For the past five years, Sen. George Allen, has failed to tell Congress about stock options he got for his work as a director of a high-tech company".

TPM Reader DK makes a funny at Allen's expense, that those of us who have been following the "macaca" story might appreciate.

Late Update: We have word that Allen has responded to the AP story. "I don't even know what 'stock options' means. I just made the term up. I have never used that term in my private life." Maybe so, but we understand that the use of "stock options" began in French colonial North Africa, where Allen's mother was raised. We're looking into it.

UPDATE: Bloomberg reports that:

Stock options that Senator George Allen described as worthless were worth as much as $1.1 million at one point, according to a review of Senate disclosure forms and U.S. Securities and Exchange Commission filings.

The records appear to contradict remarks he made to the Associated Press. ``I got paid in stock options which were worthless,'' AP quoted him as saying.