FEC says McCain can't drop out of public financing

[BurtWorm]

It looks like he can be prosecuted if he tries, doesn't it? It's John McCain being a smartass again.

This is by Lindsay Beyerstein of majikthise:

http://majikthise.typepad.com/majikthise_/2008/02/mccain-promised.html


Before John McCain became the Republican front runner, he signed up for public campaign financing. Now, he wants to out of the program.

Candidates are allowed to quit, provided they haven't already accepted public money.
The thing is, McCain seems to have used the prospect of public money to secure private funding:

WASHINGTON (Map, News) - The government's top campaign finance regulator says John McCain can't drop out of the primary election's public financing system until he answers questions about a loan he obtained to kickstart his once faltering presidential campaign.

Federal Election Commission Chairman David Mason, in a letter to McCain this week, said the all-but-certain Republican nominee needs to assure the commission that he did not use the promise of public money to help secure a $4 million line of credit he obtained in November.

In plain English, McCain got the loan by promising a publicly-funded bailout, if anything went wrong. The FEC is not amused....

[ThomWV]

1. McCain, how is he fucked? Let Me Count The Ways

The press hates him.
Half the Republican Party hates him.
Right wing Republican Radio hates him.
Rational Democrats hate him.
Now the big money's gone too.

[DJ13]

2. "Candidates are allowed to quit, provided they haven't already accepted public money."

Im no McCain fan (Im an Obama supporter) but by securing a seperate loan and NOT taking any public money due because of that loan it would seem to me he didnt violate the law.

[BurtWorm]

4. Beyerstein says, "benefiting from the prospect of public money may be tantamount to taking the cash"

From the article linked to in the OP:


McCain didn't get the public money in his pocket, but he borrowed against the promise of public money. In the eyes of the FEC, benefiting from the prospect of public money may be tantamount to taking the cash.

McCain could be in big trouble if the FEC won't release him from the program. Public financing imposes strict spending and fund raising limits. McCain has already burned through about $46 million, betting on his ability to raise still more money from private donors.

[radfringe]

3. no problem

just get his buddy bush to issue an executive order exempting him from having to follow the rules

[dysfunctional press]

5. is any of this covered by the mccain/feingold bill...?

because THAT would be too fucking sweet to imagine.

[BurtWorm]

6. kick