Dennis Peterson
Member
- Joined
- Nov 28, 2007
- Messages
- 47
McCain signed up for matching funds. That entails a spending limit of $54 million.
Now he's backing out of matching funds. The trouble is, the lawyers say he has no right to do so without the agreement of the FEC, and particularly not since he has already benefited:
1) He took out loans using the future receipt of matching funds as collateral.
2) The funds helped him qualify for the ballot in some states.
Since he does not have the right to renege on the matching funds agreement, it is illegal for him to spend more than $54 million. The general consensus is, he has already spent more than that.
Violating campaign finance law is punishable by a prison sentence of up to 5 years.
Ron Paul should be able to make a good case that McCain is the nominee only because he violated the law - in fact, the very law that McCain himself wrote.
People will disagree but in all probability, McCain has this nomination tied up. Even Ron Paul said as much, and that was before McCain took four more states and Huckabee dropped out.
But if McCain is under indictment for violating election law, that puts things in a different light.
For anyone who's serious about continuing the campaign, this is the only real option.
Now he's backing out of matching funds. The trouble is, the lawyers say he has no right to do so without the agreement of the FEC, and particularly not since he has already benefited:
1) He took out loans using the future receipt of matching funds as collateral.
2) The funds helped him qualify for the ballot in some states.
Since he does not have the right to renege on the matching funds agreement, it is illegal for him to spend more than $54 million. The general consensus is, he has already spent more than that.
Violating campaign finance law is punishable by a prison sentence of up to 5 years.
Ron Paul should be able to make a good case that McCain is the nominee only because he violated the law - in fact, the very law that McCain himself wrote.
People will disagree but in all probability, McCain has this nomination tied up. Even Ron Paul said as much, and that was before McCain took four more states and Huckabee dropped out.
But if McCain is under indictment for violating election law, that puts things in a different light.
For anyone who's serious about continuing the campaign, this is the only real option.