FEC question. Please!

[hogwyld]

Does anyone understand the legalese in regards to campaign contributions? I'm really interested in how the FEC handles a candidates loans to her own campaign.

I'm even more interested in what they do in regards to unpaid bills to past vendors and how that is paid off.

What is generally settled first? The bills of the vendors, or loans to self? At what point does the FEC say "screw it" and zero out everything? TIA for you help!

[Andy823]

1. I don't know but,

I think the bills that are owed should be paid off to the private sector before they go to pay ones self back. They should also make sure the small business owners get paid of before creeps like Penn!

[phrigndumass]

2. Not sure, but what I've heard is ...

She'll transfer the $20 mil primary debt to her senate campaign (with the other debts), and then transfer the $20 mil in funds she's sitting on for the general election, and use that $20 mil from GE funds to pay herself back and pay the bills.

Bada bing, bada boom. Solved. :7

Whether that's legal is up to the FEC to decide.

[Gothmog]

3. This article will answer your questions.

http://www.slate.com/id/2190880/ Basically, Senator Clinton will lose all but $250,000 if she is not the nominee and her loan is not paid off by the convention. There is some talk about her senate committee trying to assume the debt but that is untested and it is not clear if the FEC will allow this when and if the FEC again has a quorum

[hogwyld]

5. Wow, that's a chunk of change to kiss goodbye!

Would any of that be considered illegal campaign contributions if it's not repaid?

[rainbow4321]

4. Speaking of the FEC...keep an eye on their website for the next 24 hours

Here is their website to watch for candidates' FEC information that has to be released by tomorrow.

Keep in mind that HRC's disaster of a list is usually released in the wee hours of the morning of the 21st or around midnight on the 20th!!


http://query.nictusa.com/pres/2008/M5/