McCain uses loopholes to get $70,000 donations vs $2300- ABC news

[Ichingcarpenter]

McCain Has Record Fundraising Month

May 20, 2008 6:22 PM

ABC News’s Bret Hovell reports: Senator John McCain raised approximately $18 million during the month of April, according to a spokeswoman for his campaign.

Under a new fundraising structure created by the campaign and the Republican National Committee, a donor can give up to $70,000 to the "McCain Victory 2008," significantly more than the $2,300 individual donor limit set by campaign finance laws.

If a donor gives the maximum amount the money is split into multiple funds that all benefit McCain's campaign: the first $2,300 of that money goes to the McCain campaign itself, the next $28,000 goes to the RNC, and the rest is divided among four swing states the campaign plans to target in the general election. Those targeted states are: Wisconsin, Minnesota, Colorado and New Mexico.

This week McCain is holding or has held fundraising in four states: Illinois, Georgia, Florida and California.

Next week he’s scheduled to fundraise with President George W. Bush in McCain's hometown of Phoenix

http://blogs.abcnews.com/politicalradar/2008/05/mccain-has-reco.html

[EmperorHasNoClothes]

1. Just one more example of a McCain flip flop

Or was that his cousin Fred McCain who cosponsored McCain-Feingold?

[Frustratedlady]

2. How can they do that? I thought there was an oversight group.

Oh, I forgot. McCain's a Republican. They can do whatever they wish.

[brooklynite]

3. Not illegal...

You can do the same thing: just write separate checks to Obama, the DNC and state Parties of the swing states of your choice. combining the amounts into a single check is legal as long as the accounting breaks the amounts out and reports them properly.

That said, it'll be hard for McCain to complain about being "outspent" by the Obama campaign (Clinton's been trying this for weeks), and it goes counter to his "maverick" position on CFR.