Mayor Bloomberg Personally Lending September 11 Museum $15 Million

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NEW YORK, NY - MARCH 11:  Mayor Michael Bloomberg speaks at a news conference March 11, 2013 New York City. Today a New York state judge halted a controversial ban on large sugary drinks that was to take effect tomorrow.  (Photo by Allison Joyce/Getty Images)
Photo: Allison Joyce/2013 Getty Images

Michael Bloomberg, who in addition to being an inconceivably rich media mogul and mayor is also the chairman of the National September 11 Memorial and Museum, is offering the organization a $15 million loan, at just .3 percent interest, from "a corporate entity of which he is the only shareholder," the Times reports. While the good deal for a great cause easily beats any bank's offer, Bloomberg did not explain "why the money is being proffered as a loan rather than a gift," but we won't speculate on his business and charity acumen in this case.