There’s been a non-linked story all day on Drudge that reads as follows:
CLINTONS MAY NOW BE USING THEIR OWN MONEY TO FINANCE HILLARY’S RUN… When asked if Clintons were dipping into their personal wealth, communications director Howard Wolfson said: ‘I don’t know’…Developing…
Now, Marc Ambinder is reporting the same thing:
I can confirm that, according to advisers to the campaign, Sen. Hillary Clinton is weighing a self-loan in order to finance a competitive race against Barack Obama over the next few weeks.
Clinton raised less than $20M in January and has spent most of its store of money on ads leading up to Tuesday’s multi-state primary.
Campaign advisers would not say how much money she has left. Officials did not respond to e-mails seek comment.
Upon leaving the White House, both Clintons secured large advances for their memoirs, and Bill Clinton’s post-presidential speaking and consulting has left the couple comfortably wealthy, although not Mitt Romney-wealthy.
If Clinton decides to loan herself money, I envision that it would produce at least two countervailing forces. There would be a spate of stories on the End of the Clinton Machine — that her donor base is tapped out and hasn’t been able to expand like Obama’s. This force is likely to be very strong, and it is not unfair or inaccurate.
Couldn’t happen to a more well deserving couple.
Update: Apparently, she’s already started doing it:
Howard Wolfson, Hillary Clinton’s communications director, confirms:
“Late last month Senator Clinton loaned her campaign $5 million.The loan illustrates Sen. Clinton’s commitment to this effort and to ensuring that our campaign has the resources it needs to compete and win across this nation. We have had one of our best fundraising efforts ever on the web today and our Super Tuesday victories will only help in bringing more support for her candidacy.”
Interesting.
Update # 2: Sully puts the $ 5 million loan into perspective:
It’s four times Obama’s net worth. But she’s the alleged tribune of the poor. Like her husband was black.
Heh
February 7th, 2008 at 6:41 am
[...] we continue to digest the fact that Hillary Clinton had to loan herself $ 5 million last month, the Obama campaign announced that they have raised more than that since Super Tuesday: The Obama [...]
February 8th, 2008 at 12:01 am
The clintons have always been somehow able to draw “contributions ” from outside the United States and since I could beleive this is another money laundering project. Isn’t it curious that foreigners who never contributed to our elections before do contribute to the clintons?
February 15th, 2008 at 4:07 pm
running for president is expensive!