HRC's FEC report: Behind the Smoke and Mirrors...

[WA98070]

Clinton's latest report to the Federal Election Commission showed an April 30 cash balance of nearly $29.7 million, but that was deceiving. FEC spokesman George Smaragdis said the figure included $6 million in primary-season cash and $23.7 million in donations designated for the fall general election campaign. None of the general election donations can be used to retire debts accrued during the primary season.

Clinton's biggest problem, of course, is the $21 million in IOUs, which include $11,425,000 she is known to have lent her campaign through the first week of May and possibly millions of dollars more in yet-to-be-disclosed loans during her last-ditch primary campaign efforts...

...She also could eventually terminate her presidential campaign committee and negotiate financial settlements with campaign vendors — including the media-consulting firm of her former top aide, Mark Penn, which was owed $4.8 million on April 30. Such settlements are rare and require FEC approval to ensure that corporations, which are banned from making campaign donations, are not effectively doing just that.

As for Clinton's $23.7 million general election treasure chest, that money amounts to a political opportunity fund. She also could ask the donors to authorize her to put their money into a new committee — perhaps one that would finance a 2012 presidential run or another bid for Senate. She can't, as was possible for political candidates through the mid-1990s, just keep the cash.


The full article:
http://www.mcclatchydc.com/homepage/story/39893.html

[Catherina]

1. ! OUCH! n/t

[dkf]

2. All she needs is a dollar from those millions of people she says are her supporters.