Reply #2: mccain wanted to opt out of his "public financing" but it was too [View All]

[Cha]

late and now he's whining-lying-whining about it.

"Yep, there's more articles, but here is one
Posted by BostonTLover
There's more articles out there, but just quickly browsing, I found this:

http://majikthise.typepad.com/majikthise_/2008/02/mccai...

In plain English, McCain got the loan by promising a publicly-funded bailout, if anything went wrong. The FEC is not amused.

McCain opted for public financing when his campaign was struggling last summer. Then, when his electoral fortunes rebounded, he told the FEC he wanted out again.

Rick Hansen of the Election Law blog writes, "Meanwhile, as Marc Schmitt has documented (see here, here, and here), McCain, in applying for a campaign loan, apparently promised to remain a candidate and opt back in to the system in the event his campaign faltered again."

McCain didn't get the public money in his pocket, but he borrowed against the promise of public money. In the eyes of the FEC, benefiting from the prospect of public money may be tantamount to taking the cash.

McCain could be in big trouble if the FEC won't release him from the program. Public financing imposes strict spending and fund raising limits. McCain has already burned through about $46 million, betting on his ability to raise still more money from private donors.

What a smarmy sleazeball. The McCain of McCain Feingold can't even make it to through the primary without embroiling himself in shady private financing schemes."