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Hillary Has ‘Loaned’ Campaign $11.4 Million

From those proponents of campaign finance reform at the Associated Press:

Hillary Clinton says she’ll stay in the presidential race

SHEPHERDSTOWN, W.Va. – Hillary Rodham Clinton says she will remain in the presidential race “until there’s a nominee.” The former first lady declined to say whether that meant through the roll call of the states at the Democratic National Convention this summer.

Clinton also disclosed that she had loaned her campaign an additional $6.4 million in recent weeks, additional evidence that her once front-runner campaign was in deep trouble.

She told reporters the loans were a sign of her commitment to her quest for the White House. She earlier loaned herself $5 million as she struggled to keep up with a better-financed Obama campaign…

Clinton’s appearance in Shepherdstown, W.Va., was meant to underscore her determination to stay the course. She also arranged a private meeting later in the day with uncommitted superdelegates

Clinton told reporters it would take 2,209 or 2,210 delegates to win the nomination, not the 2,025 in use by the Democratic National Committee. The higher total would come into play if the delegations were seated from Michigan and Florida, two states that held primaries outside the time frame that party rules required.

The former first lady campaigned for months to have new votes in both states, although lately has said she merely wants the delegations seated…

Asked at her news conference whether she intended to remain in the race through the convention roll call, Clinton said, “I’m staying in this race until there’s a nominee and obviously I am going to work as hard as I can to become that nominee.” …

Clinton’s loan more than doubled her personal investment in her bid for the Democratic nomination. She gave her campaign $5 million earlier this year.

A campaign aide said Clinton gave her campaign another $5 million on April 11, more than a week before the Pennsylvania primary. She then again dipped into her personal wealth for $1 million last week and $425,000 on Monday, one day before the North Carolina and Indiana primaries.

Clinton’s campaign reported raising $10 million online after her Pennsylvania victory on April 22. Evidently, the money was not enough and her fundraising was unable to keep up with her expenses heading into Tuesday’s contests.

Moreover, Obama has routinely outspent her in primary after primary and has shown little difficulty tapping his vast network of donors. He spent more than $7 million on advertising head of Tuesday’s primaries in North Carolina and Indiana to her nearly $4 million.

According to the latest campaign finance reports filed with the Federal Election Commission, Obama began the month of April with $42 million in the bank for the primary to Clinton’s $9.3 million.

But Clinton had debts of $10.3 million at the start of the month, much of it money owed to her main polling, phone banking and advertising consultants…

Of course this $11,425,000.00 from Mrs. Clinton’s “personal wealth” actually represents a lot of favors owed to the Chinese, Arabs and the other shady characters.

But isn’t it a good thing McCain-Feingold put an end to such practices? Imagine if there was still money influencing politics.

Still, let’s not forget Chelsea has repeatedly assured us that her mother is the most fiscally responsible person in the race.

And of course she is beholden to no one.

This article was posted by Steve on Wednesday, May 7th, 2008. Comments are currently closed.

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