Deadline looms for Clinton to recoup $11M personal loan
source: http://news.yahoo.com/s/bloomberg/20080512/pl_bloomberg/as5a58ks7ky8;_ylt=AtFH1gak_zIwV1X0G_...
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- ajwashington
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http://news.yahoo.com/s/bloomberg/20080512/pl_bloomberg/as5a58ks7ky8;...
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.
That may ratchet up pressure on Clinton to cut a deal with rival Barack Obama to help her through his supporters. Obama may oblige since he would love to get her out of the race for the nomination so he could focus on the general election.
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gdababa
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It's intresting that she could not even handle her personal fininces during the campaign and needed to dig in her own pocket. Is this what she plans to do if she were elected? She may be the answer to all of our fincial whao's if she has is like "that". Can I get a loan Hillary?
As a married woman, working full time and caring for two children and three step children, I have to choose between insurance co-payments, gas in in my car, rent or food on my table. Again, can I get a loan Hillary so I can begin to pay my students loans back? I guess I will wait for the community service options Obama will afford me. - 5 years ago
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gdababa
