Clinton Deadline Looms for Recouping $11 Million Personal Loan

[babylonsister]

Clinton Deadline Looms for Recouping $11 Million Personal Loan

By Jonathan D. Salant and Timothy J. Burger


May 12 (Bloomberg) -- Hillary Clinton may have a financial incentive to remain in the presidential race for a while. And she has Senator John McCain to thank for it.

Clinton loaned her struggling campaign $11 million in recent months. A little-known provision of a 2002 campaign- finance law cosponsored by McCain prevents candidates who drop out of the race from raising money after the nominating conventions to repay themselves for personal loans.

Should Clinton fail to come up with the funds by the Democratic convention in August, she'll be out the $11 million. If she quits the campaign before then, she may find it hard to get people to keep giving cash just so she can retire her debt.

more...

http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=as5a58KS7ky8

[elocs]

1. This is probably why Edwards "suspended" his campaign. n/t

[lisa58]

2. I'll give her money to stop campaigning

[geiger]

6. i think they're might be a lot of people willing to help her out....

[here_is_to_hope]

3. 11 million dollars....

Wow...what a waste.

[NJmaverick]

4. The longer she stays in the bigger the debt grows, they are already up to $20,000,000 of debt

and climbing. The staff and expenses have to be paid as long as the campaign is active, while few donors are willing to throw good money after bad.

[BeyondGeography]

5. But she HAS cultivated a deep pool of low information, shallow pocketed white voters

It'll be up to us eggheads to bail her out.

[madrchsod]

7. that`s the interest rate is she paying?

what will the rate be when she starts getting behind in payments?

[Clear Blue Sky]

8. Terry M mentioned a figure of $20 M on one of the Sunday talk shows.