Romney not getting his $45m back

[sabra]

Source: Boston Globe

Says he won't seek gifts to repay campaign loans

WASHINGTON - Mitt Romney, whose prospects of becoming John McCain's running mate appear on the rise, is preparing to formally declare he will not seek donations to repay $45 million in personal loans he made to his failed presidential bid - the biggest ever made by a candidate in a primary campaign.

The move could clear away the last remnants of a divisive primary race, ensuring that he and his financial supporters are focused on helping McCain, but it could also put him at odds with McCain's campaign reform message.

Romney spokesman Eric Fehrnstrom said yesterday that the former Massachusetts governor is preparing to have the loans "reclassified as contributions" and will write a letter to the Federal Election Commission explaining that he is "forgiving the outstanding loans."

Some analysts said McCain, the presumptive Republican presidential nominee, might undermine his reform message if he picks someone who bankrolled so much of his own campaign.

"Democrats would use it as an issue," political analyst Stuart Rothenberg said yesterday. "They would then try to undermine his reputation as 'Mr. Reformer.' "

Read more: http://www.boston.com/news/nation/articles/2008/07/17/romney_not_getting_his_45m_back/?page=1

[NC_Nurse]

1. I know Romney is richer than the Clintons, but I have wondered why we are

supposed to help her pay herself back? She chose to give her campaign money -
I don't remember asking her too. It's not like the Clintons' are broke.

[hedgehog]

4. Clinton loaned her campaign $5 million back in January.

http://politicalticker.blogs.cnn.com/2008/02/07/clinton-loans-herself-5-million-2/

It must have been after Iowa, but I don't know if it was before or after New Hampshire*. Was her loan spent on television ads in Super Tuesday States in an attempt to overwhelm Obama at that point? Had she had succeeded, she would have bought the Democratic nomination and ultimately the Presidency for only $5 million which she would have probably gotten back. Quite a bargain compared to Mitt's $45 million for the VP spot!






*(BTW - she was exhausted to the point of tears before New Hampshire? )

[juajen]

5. Hillary does not expect anyone to repay her loan to the campaign.

Frankly, I believe her supporters have now donated enough money to take care of her campaign debt, though I'm not sure if that sum will include what she personally loaned. I am looking forward to getting an accounting in a few days.

So, I don't believe O's supporters have to give her a dime.

[babylonsister]

2. OUCH. Imagine having so much money this doesn't matter? nt

[Maine-i-acs]

3. Poor guy will have to scrape by on his remaining $350 million.

Everyone's feeling the budget crunch these days.

He may only be able to hire 20 illegal immigrant landscapers now.