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hillarynews
Joined: 24 Jan 2007
Posts: 2255
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 Posted: Sat Feb 09, 2008 2:00 pm Post subject: The Clintons' Cash |
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 The Clintons' Cash
Sen. Hillary Clinton's presidential campaign appears to be in serious financial trouble. She revealed Wednesday that she had loaned the effort a whopping $5 million last month - even as Sen. Barack Obama's campaign was raising an astonishing $32 million.
Category: Commentary
Sen. Hillary Clinton's presidential campaign appears to be in serious financial trouble. She revealed Wednesday that she had loaned the effort a whopping $5 million last month - even as Sen. Barack Obama's campaign was raising an astonishing $32 million. Moreover, Obama looks to be on track for $30 million more this month - a goodly portion of the cash coming from new donors in small amounts. Why is that last significant? Individuals can kick in no more than $2,300 during the primary season - and while most of Clinton's donors long ago "maxed out," a mere 3 percent of Obama donors have reached the limit. He can go back to the well, in other words, while she largely cannot. Perhaps as a consequence, senior Clinton staffers reportedly have offered to go without pay - though the Clinton campaign yesterday rushed to announce that the staffers would be paid, adding that $6 million had been raised since Tuesday. Well, maybe things aren't so bad. But reports of lurking insolvency are much more likely to damage an already-faltering campaign than to spark new fund-raising. It remains, of course, that Sen. Clinton and her husband are people of means. Hence the $5 million loan. The Clintons individually are not without resources. Both got multimillion-dollar book contracts - and the former president has a lucrative speaking career. Now, personal loans to campaigns are not illegal. John Kerry did it - after borrowing millions from his wife, in fact - in 2004. But legal and proper can be two different things. And with the Clintons, they usually are. The 1996 Clinton-Gore campaign reeked of fiscal impropriety - highlighted by countless examples of contributions that appeared laundered from the People's Republic of China. A major Hillary donor, Norman Hsu, is now in prison on fraud charges.
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Source: The Hillary Project
Description: reporting the news about Hillary that the media refuses to |
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