Common Cause writes a letter to John McCain regarding his dubious campaign finance activities (PDF). Key graph:
Similarly, we are concerned that your recent actions in regard to public funding in the presidential primaries may undermine respect for the federal campaign finance laws, especially the presidential public financing system. Having opted into the system last summer – and having signed a binding certification agreement with the FEC – it is clear to us that you need an FEC vote to allow you to withdraw.
John McCain is in the public financing system, which has a spending cap of $54 million in the primaries. He has now spent, by his own admission, over $58 million. He has tried to claim that he can just withdraw from the system at will, but FEC Chairman David Mason says he can’t, and now Common Cause says he can’t. A pretty bold move, considering the crap that the vindictive McCain has given them in the past.
Good for Common Cause. Now where’s Democracy 21? Calling Fred Wertheimer….
Related posts:
- Larry Summers Aide Luring Veal Pen with Donor Cash at Common Purpose Meeting
- McCain Rediscovers His Passion for Screwing Us with Bad Telecom Policy
- McCain is a Clunker, Can I Trade Him in?
- Get a Grip, Wingnuts: John McCain Obsessively Quotes Mao Zedong
- Frank Rich: McCain Was Wrong On Everything. CNN Treats Him As Sage





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Heh, heh, heh. Cool. The more the merrier.
I do believe he’s speaking in tongues
forgive me jane, but a little backround on “common cause” please, are they a progressive group”
it would be better if they were a concervative group
Jane!
John McCain:
Worse than Bush
will make an excellant poster 2 b sure
Sadly! No
Well, funny, but let’s hope it aint true.
http://www.youtube.com/watch?v…..dlyno.com/
John MCCain thinks nothing of lawlessness – this was proven long ago with the Silverado Savings & Loan expose.
Wow, got a fundraising letter from Common Cause yesterday. Think I’ll send them a bit for this good work!
Keith Olbermann doing Yoo memo right now.
Digg It
McCain is a criminal, he should be prosecuted for breaking campaign laws!
Please pardon the off topic:
Jonathan Turley on KO now
And the American people need to be re-educated on that little pearl come summer. (Or educated altogether for the younger voters.)
Keith asks if we throw Issa out! GO Robert Hamilton!
(I’m to the right of Francine Busby)
Vote McCain, Vote the Draft
Wasn’t Silverado First Brother Neil Bush’s outfit?
neuro-what’s he saying? no cable here…..and i sent him another letter.
jane–sent lots of letters out to media, politicals, etc., after being educated by you and the pups.thanks for the document links, that’s what i needed.
got my final questions answered by cboldt and peterr.
here’s something i heard today from the lips of mccain’s 2000 campaign comminications director.
want to make sure everyone sees it. why and how he uses ’my friend’………OMG.
i’m going out of town tomorrow, pass this around for me.
http://www.npr.org/blogs/news/…..on_to.html
and ed schultz crossed many lines this week, i heard the steny hoyer interview, it was embarrassing, felt like i was in the car while two people were making out…….the rest was emailed to me…….i’ve posted on a few threads about it, this asshat needs taken down once and for all. i promoted the asshole when he first showed up in markets in ohio, he’s worse than rush now. equal to lieberman. took lessons from him.
said jello jay rockefeller is a ’fisa hero’, went on and on and on……. guess he forgot jello jay is pushing for telco immunity with all of the testosterone he has left in his balls.
sent letters out about that one, too. ’progressive democrat defending the democratic party’ my ass.
lieberman. just younger and with red hair.
Go Loo Hoo,
But, Honey, I know what you look like and I can’t find you!
Issa, WPIW!!
nonplussed left you a note about what to do to help your friend at 87
Aloha, Jane and firepups! What’s shaking?
:P
i have a stupid question. if there was a functioning fec – would they likely permit mccain to withdraw from his prior agreement? has this happened before to any other national candidates? if so, what was the outcome then?
ok, that was three questions. apparently i haven’t learned to count yet.
mourning in America
In addition to the selise three, why is the FEC the only election Marshal in town? We need an off duty Barney Fife to conduct a citizens arrest.
Somebody buy me a bus ticket and a plastic badge.. I’ll do it!
Arrest that man, John McCain.
iloveKO….right from the gitGO
Or capitalize, either. (not meant maliciously)
Well, if they were functioning, I think one Repug commissioner would have to defect to get a viable decision rendered, otherwise it would be a dead-locked decision…!
where’s your paypal button, my friend? i’d be happy to help you on your way. *g*
evening pups. glad to see this issue sticking.
Howdy, Ma’am! I just got here too…! *g*
selise,
I believe Howard Dean in ‘04 had initially applied for campaign funds in the primary but withdrew prior to receiving any funds.
But.
He received notice from the FEC that his withdrawal was acceptable as he had not used the promise of FEC funding to receive a loan or any of the benefits some states provide (giving free ballot position if receiving FEC versus otherwise having to pay a fee and gather signatures to qualify)
lol!
i stopped capitalizing in the ’80s as my way of attempting to whisper and so avoid setting off flame wars (you think things are bad today?). after more than 2 decades, it’s a hard habit to unlearn. thank goodness for error correcting word processors. *g*
thanks – i’ve been having trouble putting this into context.
That’s true, bra, but, let me reiterate what I had said; we would still need one defection from the Repug side to actually hold McBuush accountable…!
To the right of Francine in the bright blue blouse.
Given that there are not enough current commissioners for a quorum, it’s a moot point at the moment. Think the block in Senate because Mitch and the Rs want to confirm the whole block of appointees at once while the Harry and the Ds are pushing for individual votes on each appointee in order to assure that Hans von Spakovsky, Rethug Vote cager extraordinaire does not gain confirmation.
elliot
: P
(bbl-chores, going out of town tomorrow)
Yep, I would agree with that excellent synopsis! Now you can tack on McBuush’s illegalities on top of the Caging…! ;-)
It’s kinda funny that would be his #1 issue anyway. “Good government” shit doesn’t win elections.
well, i can see from the lack of reactive, humorous remarks that noone read my link at 16.
shame on you, it’s a good one, ’my good friends’ /s
Perhaps someone could suggest to McCain that he should ask his 2nd BFF (after Lyingman) GWB to consider dropping his demand that von Spakovsky be confirmed to the FEC. Then, other nominees could be confirmed, the FEC would have a quorum and McCain might at least have the possibility of being released from his “binding certification agreement with the FEC.” Would this be to much to ask of a secondary BFF?
I’m not trying to help McCain as much as I think it would be a really good thing to have a functioning FEC in this important election year.
http://tpmmuckraker.talkingpoi…..004396.php
i told olbermann in my letter that everyone live-blogs his show here, every night, but tonight noone did.
he’s gonna be lookin’ and noone did.
dunno : )
back to laundry/packing.
must be nice to be organized/ sigh.
read the freakin’ link at 16, will ya?
remember, i love mccain like punaise loves lieberman.
bbl
dmac, it is hard to make it through the comments if one stops to read every link. One has to pick and choose.
I read your link at 16. Not sure I agree.
“Schnur says that normally when a candidate talks about his biography — as Senator McCain has been doing all week — it’s not newsworthy. The Media wants to hear about policy differences.”
So, the Rev. Wright/Obama story and the Bosnia/Clinton story are about policy differences? They strike me more as biography.
However, I always appreciate your point of view. :)
It’s also boring as hell when people write the same shot over and over. AMF
Editing needed on Elliot’s #2?
I do believe he’s speaking in ] forked [ tongues…
Does that mean he’s forked?
*g*
shit
Whoa — shorter hair? You’re hot! Look at you, all busy campaigning and stuff.
Almost as good as writing a factual letter!!! Ha ha ha.
I’m proud of you.
Did ya get it all out? ;-)
Get my email?
raven,
I think the repeat topic is to keep trying to get the attention of those who are paid to not pay attention.
Using repetition in a (probably) vain attempt to force the TradMed and supposed liberal organizations to get up off their rusty dusties and notice that St McCain, High Priest of Campaign Finance Laws, isn’t so saintly.
Not that I’ve seen, I’ll check again, BRB!
I guess McCain is not only insane, but criminal. I hear Atascadero is a nice place for the criminally insane.
I wasn’t talking about the topic but you probably knew that. Personally I am burned out on the argument about McCain education and service so I need to be scarce. No biggie. CT, i put one on yer FB too.
no, neuro- it was how john mccain uses the phrase ’my friend’ that was so mind-blowing!!!!
everybody’s always using it as a joke, and this guy, who was his ’communications’ director, told the key to how john mccain communicates!
that he uses the phrase as a put-down. uses it all of the time.
bleew my gourd. he actually said that on the radio. couldn’t believe what i was hearing.
it’s like a fuck you.
so, THAT’S why i wanted you all to hear/read it ’my friends’ : )
and raven–yeah, i bitched in the last thread about meaty posts getting an hour, and ’fluff’ stuff gettin’ two.
i don’t get it. and what does AMF mean?
bbl
Adios Mother Fuckers
I say that with all due respect.
I saw the FB one and I replied with my address…!
(((Raven))), we know. *g*
LOL.
CT I tried to leave you a comment at your new digs but I keep getting:Internal Server Error
The server encountered an internal error or misconfiguration and was unable to complete your request.
Please contact the server administrator, webmaster@mainandcentral.org and inform them of the time the error occurred, and anything you might have done that may have caused the error.
More information about this error may be available in the server error log.
Additionally, a 404 Not Found error was encountered while trying to use an ErrorDocument to handle the request.
So here is the comment here!
Good luck CT in your new blogging digs!! All at FDL know you will do a great job of exposing that which needs exposing!!
– if there was a functioning fec – would they likely permit mccain to withdraw from his prior agreement? has this happened before to any other national candidates? if so, what was the outcome then? –
I think McCain would be found to have irrevocably committed to the public financing system.
Others pointed out that Dean withdrew, but before the calendar year of the election, and before funds had been certified (i.e., the amount he had shown as private donations to be matched with public money) as to be disbursed.
The “precedent” used to illustrate the relationship between pledging funds as loan collateral and being irrevocably committed is Gephardt. Gephardt asked the question about withdrawal, but didn’t withdraw. He obtained public matching funds.
Liddy Dole also withdrew; but so early in the process as to be irrelevant.
Mccain’s situation is unprecedented. It is an attempt to withdraw in the calendar year of the election; after funds were certified for disbursement. I think the language in the loan agreements will be found to be a slim disguise for pledging public money as collateral. He pledged the public funds — just not those that accrued to “this particular application.” The agreement says he’d withdraw and reapply, for exactly the same funds.
The legal and financial ramifications of his breach are trivial. The political ramifications are to be determined.
But the Chairman, who wrote the letter telling McCain he couldn’t leave the financing system without permission from the entire FEC, is a GOP. Perhaps he would be pressured to allow McCain to leave, but it certainly seems like he is standing up for the campaign finance laws.
I did do a double-take when I returned and read that…! 8-P
dmac,
AMF is a “term of endearment” used by servicemen and women when they have orders for a new assignment, discharge, or retirement. Other terms include Short Timer, Short Fever, or FIGMO (f*ck it, got my orders)
david axelrod is scheduled to be on charlie rose tonight
Damn, that’s where I got that. Who would have known?
LOL…. Where I come from AMF mean adios mother fucker.
– it was how john mccain uses the phrase ’my friend’ that was so mind-blowing!! –
He’s very condescending. About as arrogant as they come. I’m sure that sometimes, when he utters “my friend,” it’s not a put down. He uses the phrase the same way Hillary! uses “you know.” It’s a time filler.
It’s a separate commenting system through haloscan, Jofish had explained to me, we’re still working out the rust…! *g*
I’ve a new post up!
thanks raven : ) and dakine : ) ’my good friends’ lol.kiinda like amf!
I was stationed in MI at a SAC base when I got orders for Hawaii. The copy over my desk was FIGMO; the copy on my barracks room door was AMF.
I was not real popular with the PTB in the office.
As raven had previously explained at #57…
thank you, that’s very helpful.
I won’t argue that, but it’s still moot at this point! Aloha, cboldt! Always nice to see ya and your excellent insights! *g*
Heh, I’ve used it once or twice, most notably when I left Korea…! ;-)
I was just over at Democracy 21 Fred Wertheimer’s outfit. Aside from his initial reaction some 2 1/2 weeks after the McCain FEC story broke, he has nada at his site. I think it is a case of too many cocktail wienies too little time. It’s to laugh that these guys consider themselves reformers.
I read the post on the rape situation in the military, this subject needs to be exposed every day to the public at large. Rape should never be swept under the rug and these American companies should be prosecuted to the full extent of the law for trying cover them up and not doing something about it!
Impeach ‘em before he takes office – that’s a new one, even for a Republican.
I agree, that’s why I wanted to post it even tho it’s rather old news at this point, did you read the woeful prosecution rate of the offenders, any civilian D.A’s office would be seriously investigated for that type of track record… I’m ashamed of what has occurred…! 8-(
More details on the McCain Public Financing Issue, has links to FEC documents, a comparison with Gephardt’s situation and outcome, and plaintext of the relevant clauses of McCain’s Loan and Security agreements.
I don’t recall where I dropped links to the Liddy Dole and Howard Dean circumstances. Maybe in that same general area, maybe on somebody else’s notepad.
The GOP has a vested interest in preventing the FEC from rendering a ruling until after McCain’s election fate is sealed.
BTW, your comment showed up!
Has Common Cause filed a complaint with the Federal Election Commission, or is their sternly worded letter to St McCain as far as they are willing to go?
I hear there’s a bunch of DFHs who’ve already filed a complaint; Common Cause could certainly hop aboard. Perhaps president Bob Edgar could be among those to carry the next batch of citizen complaints to the FEC?
I think maybe Fred should deliver the 50,000 signatures. Whaddaya think?
hugh – if you are still here, thought you might like to see lhp’s take on chertoff from earlier today, if you hadn’t already (here and here). surprised does not begin to capture my reaction.
Up to 50,000 now, Jane? That’s awesome! 8-)
Heh, couldn’t McCain put a hold on it personally? Or would he be required to recuse himself…? Not like that has ever stopped them before! ;-0
– I was just over at Democracy 21 Fred Wertheimer’s outfit. Aside from his initial reaction some 2 1/2 weeks after the McCain FEC story broke, he has nada at his site. –
If I was a Democrat, I’d sit on this issue for the time being. Not that it isn’t a damaging story, 1) it’s too early in the election season and the damage will have worn off by the time the damage could turn public votes and 2) campaign finance is a minor point of news issues, at this moment. Unlike a few weeks ago when campaign finance was “a big deal” between Obama and McCain.
I suppose delivering the signatures in old ballot boxes would be a bit over the top.
You’re evil, Rev! Bwhahaha…!
dakine at 73–when i worked for the phone company, i worked for the one guy who was vocal about hating women in outside craft jobs, transferred there on purpose by a boss who hated my ass…..after months of doing my job, finally got along great with crew and my boss, the one who hated women and the union, i was one of four safety committe members…..i mean he hated women, he gave me every single cockroach infested manhole job, every crap falling apart cable repair job that existed, i just did my job…we talked about it later….he ended up being my best defender.
then, after a week of heavy overtime, the night i was due for an overdue vacation, leaving that night, i was stuck out again on repair, with ’the german’ on a trouble-shoot that was hours away from being solved, i got a call at 5:30pm, we normally were off at 4:30pm, that i was being transferred to another garage effective now.
i was so pissed.
the night i was going on vacation. by the boss that hated my ass. i was told that on the phone.
that meant that after we finally got in, i then had to clean my truck off, get all of my tools organized, etc., when i was supposed to be off on time, and now had to do a final clean on my truck, because the boss that hated my ass decided that i couldn’t take my truck with me……normally, always, you took your own truck.
i wasn’t gettin outta there before 11pm. after a week of overtime.
so, i lost it when i was cleaning off my truck. completely lost it. people in the garage couldn’t believe it.
i slammed shelves, i trashed it. fuck him.
word got out.
over the weekend, suder, who was the straightest company arrow in the entire company, on my crew, came in sunday and cleaned it up.
asshole big whig had heard about me trashing it and showed up monday morning to document it, with the big boss.. vice president….it was cleaner than when it was new. he was so pissed. he thought he had me. then he found out that suder had ’helped me’ ….suder was the golden boy in the company, the first one to be trained in fiber optics, so not much he could do about it.
later same assboss tried to screw me when i was injured and working in the engineering department.
vice president created a job for me, cuz i had skills and good work record, assboss tried to screw me, no go,.
one of the best moments in my life was when he called me into his office to inform me of my new job duties as field assistant to his engineers, he was frothing at the mouth. better yet, all of his engineers loved me from when i worked in the field and were glad i got the ’created’ position.
the boss i mentioned earlier was one of his ’buds’ and stopped to say hi whenever he was at the office, made sure the assboss saw him do it.
he hated me, just for being me. and his name was ’dick’ really.
so, yeah, i get it.
McPocrisy! Damn, I love Keith!
No, just angry.
I’ve been reading Yoo’s memo again. I’m about ready to smite someone.
Well, the jawbone of an A** would certainly be appropriate. :)
jane at 85-maybe froomkin would want to do it. he’s been pushin’ the envelope for a while now, maybe he’d llike to deliver some paper to the FEC.
I downloaded the Esquire article, did you read it? I plan on posting it tomorrow at M&C, right after I finish my Maliki renews his vow to crackdown on the illegal gangs of Sadr, that is currently in draft form… So much BS, so little time…! *g*
thanks cboldt at 82–i wanted to link to your blog many times, but didn’t know if it was ok.
thought that was something you should do if you wanted.
wanted to include it in some of my letters, but again, didn’t know if it was ok.
it’s a fine source of information, you helped me tie up the loose ends i needed to understand before i sent out the letters, and i sent lots of letters. thanks.
Yeah, I’ve seen it. I hope you’ve got a big shovel.
Looking forward to seeing your post tomorrow.
But this is a timely issue, because it’s about primary campaign financing. Letting it go until the general completely misses the point: every dime McCain raises and spends right now is ill-gotten.
I wonder if there’s a way to put fear into McCain contributors, make them wonder if the FEC will come after them? That might dry up the rather weak stream of current McCain donations even further.
Are the contributors scofflaws as well?
Tis a sad day indeed for all of us when such crimes are either ignored or just left to molder in the in box of crimes committed against women. But at the same time nothing this administration does surprises me anymore. It is just more of the same old shit that keeps being illuminated as this administration unravels and their dirty little little secrets see the light of day. I just hope the next administration goes after these blatant criminals.
Investigate!
Indict!
Prosecute!
Put them in solitary confinement and through away the keys!
I kept trying! :>)
Jane How many times can we sign the petition??
Ot…well,well well
WASHINGTON — Members of Congress have as much as $196 million collectively invested in companies doing business with the Defense Department, earning millions since the onset of the Iraq war, according to a study by a nonpartisan research group.
Not all the companies in which lawmakers invested are typical defense contractors. Corporations such as PepsiCo, IBM, Microsoft and Johnson & Johnson have at one point received defense-related contracts, notes the report by the Washington-based Center for Responsive Politics.
The center’s review of lawmakers’ 2006 financial disclosure statements suggests that members’ holdings could pose a conflict of interest as they decide the fate of Iraq war spending. Several members earning money from these contractors have plum committee or leadership assignments, including Democratic Sen. John Kerry, independent Sen. Joseph Lieberman and House Republican Whip Roy Blunt.
The study found that more Republicans than Democrats hold stock in defense companies, but that the Democrats who are invested had significantly more money at stake. In 2006, for example, Democrats held at least $3.7 million in military-related investments, compared to Republican investments of $577,500.
Overall, 151 members hold investments worth $78.7 million to $195.5 million in companies that receive defense contracts that are worth at least $5 million. These investments earned them anywhere between $15.8 million and $62 million between 2004 and 2006, the center concludes.
It is unclear how many members still hold these investments and exactly how much money has been made. Disclosure reports for 2007 aren’t due until this May. Also, members are required to report only a general range of their holdings.
I would assume if it were to be a legal signature only once.
However, IANAL.
Hey thanks for the links to lhp’s opinion of Chertoff. I disagree. I look at the DHS and it is nothing but chaos and incompetence endlessly repeated, never getting better. And Chertoff sits above it all as one stupid goofy decision is made after the other. I don’t know what it means to say he has a razor sharp mind if he is always doing something stupid.
I fervently hope and pray we don’t follow the Ford model and say; Well, it’s a new administration so let bygones be bygones…! We need to prosecute and repudiate the illegalities and ensure we don’t ever have a replay…!
– But this is a timely issue, because it’s about primary campaign financing. Letting it go until the general completely misses the point: every dime McCain raises and spends right now is ill-gotten. –
It speaks more to his character, so, while it’s happening in the primary season, the [political] ramifications have longer reach.
McCain is going to continue as though he didn’t irrevocably enter the public financing system. He’ll blow smoke about how he didn’t pledge funds, and even if he did, he didn’t take any; and, the spending limits are too low in any event.
I don’t think his contributors would be affected by his actions taken to keep the campaign afloat. But uncommitted voters might be, if the issue can be clearly framed.
Contributors aren’t scofflaws at all. What’s being breached is spending limits for the primary season. There is no limit on receipts.
Wait til he tries to play all high and fair on the general election financing, and point out what a hypocritical, dishonest opportunist he was in the primary.
would love to lurk while you and lhp discuss that one! *g*
How would he carry them with a cocktail wienie in one hand and a glass full of koolaid in the other?
So, basically, only McCain is breaking the law by spending it?
Heh, a fly on the wall, eh? *g8
– i wanted to link to your blog many times, but didn’t know if it was ok. –
Of course it’s okay! Likewise with using the information in letters, etc. The only thing people have done with my stuff that bugged me was pawning it off as their own. Otherwise, I put material there with the intention that it’s free for the taking. Help yourself.
lol. yeah, but less likely to get hit with a fly swatter.
What’s your website, cboldt?
– So, basically, only McCain is breaking the law by spending it? –
Correct, althyhough it can be cast as slightly different from “breaking the law.” He’s in breach of an agreement to abide by spending limits, an agreement he voluntarily entered as a condition for obtaining entry to public financing.
He had no obligation to enter that agreement (with the government); and neither Obama nor Hillary! has entered into the agreement provided for in the law and regulations.
There are penalties for breach, but the direct penalties are modest.
Look at the loan agreement, then listen to McCain try to sell that it doesn’t constitute a pledge of public money. He’s a weasel.
Duly noted, my bad! The fines are rather puny too, IIRC…! 8-(
cboldt – a couple of suggestions.
1) if you included your blog’s url in your wordpress profile, it will show up as a link for your name (that will let everyone be able to find it easily).
2) you may want to include a copyright statement to let people know how you want your material to be used. for example, you might choose a “Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License” (based on what you just wrote). and there are others to choose from.
– What’s your website, cboldt? –
http://cboldt.blogspot.com is mostly Senate stuff, but also wanders into detainees FISA and other things that have my interest.
http://noeasyanswer.blogspot.com is another, but has very little commentary. I used it to publish Libby trial stuff, and now use it to publish various legal briefs that are not of broad public interest.
Have I ever mentioned you’re a sweetie? *g*
back at ya, sweetie!
Mahalo, cboldt! I bookmarked it from selise’s comment!
thanks cboldt–i really wanted to link to your insights, but since you didn’t have your name highlighted as a blog, didn’t feel right in linking it publicly. in my letters, i always gave credit to you, as a link to following down the information.
why don’t you link your name here to your blog? i have found valuable things there. thanks.
here was one that helped me tie in a few things on mccain and the FEC violation, ctuttle.
http://cboldt.blogspot.com/200…..tml#mccain
– cboldt – a couple of suggestions. … –
Thanks for those. I’ll probably drop the license widget into the sidebar. As for putting the general URL up as a matter of routine, the blog is mostly my personal notepad, and generally useless to anybody else unless followed (which is a pain in the ass, because I make about one new post each two weeks, and just add to the bottom of the post); or unless I make an internal link (like I did with the McCain stuff) — in which case the internal link is useful, but the general link isn’t.
as you think best, of course, … but i think you have some fans here *g*
Couldn’t the Lender foreclose on the loan…
As per your cite, cboldt?
i saw cboldt’s page, and had a moment of reverence, the kind when you find the first mushroom in the spring.
not sure if you wanna pick it, just look at it. after looking all of that time.
i read and read.
i will be reading more.
cboldt, thanks for sharing, and please, highlight your name as a blog, you are a great senate resource.
without your input, i never would have had the confidence of having enough specific facts under my belt to send out letters about mccain’s FEC violations.
never would have happened.
don’t know if they did any good or not, but they were factual, and informed, thanks to your help. and i sent them every freakin’ where. even the diane rehm show. cuz they kept getting it wrong.
jane gave me the subject and what was happening, you gave me specifics. i’m a details girl, without the details, i can’t speak to it.
and cboldt–i want to remind you that i looked for specific documents in order to send out my blast of letters, without those i couldn’t construct them accurately, factually..i am a link queen, and i couldn’t find them.
you provided them, after days of searching, in one link you gassed up my car.
so, link your name to your blog, please.
– Couldn’t the Lender foreclose on the loan… –
Under one interpretation, yes, he could. McCain is in breach of a loan covenant, one that just happened to track the FEC public financing agreement exactly.
I’d have to read the whole agreement again to get contect, but wonder whether another interpretation could take advantage of the words “if applicable.” So, if the FEC limits AREN’T applicable, i.e., McCain’s private fundraising is doing better than the the public matching funds, then the lender still has comfort.
– factually..i am a link queen –
Heh. Me too. I learned the hard way that source documents are essential, if one intends to get to the bottom of any issue. It makes for tough slogging, but at least it’s reliable.
Just checked the loan covenants. The paragraph referenced was modified in December, to read …
So under the agreement as last notified to the FEC (as far as we know), the lender gave McCain a way to breach public financing spending limits without breaching the loan agreement. Given healthy private contributions, the lender would give written consent to exceed the spending limits.
Test post to see if the profile changes have the desired effect.
cboldt–modified? how can an agreement be modified after it was signed? wasn’t it signed before december?
don’t have time to look up the date right now.
where is that from? i don’t remember that being anywhere in the documents i read. maybe i skipped it looking for the other stipulations.
banking ethics aren’t violated including that clause in the agreement?
maybe that’s how mccain said with a straight face that his former FEC chair said it was all legal.
oh man, that clause makes it more worth airing than anything else it was about.
sneaky fuckers.
i’m becoming foulmouthed due to this ’foul-mouthed fem blog’.
Works great! Sure dmac, blame Jane and Reddhedd! *g*
– cboldt–modified? how can an agreement be modified after it was signed? wasn’t it signed before december? –
There are two sets of parallel covenants. One set with the original loan agreement on Nov 14, and a revised set on December 17. It’s a private loan agreement, amenable to renegotiation.
The “pledging of public money” issue appears in both sets of covenants and security agreements.
– banking ethics aren’t violated including that clause in the agreement? –
The lender wants to be repaid. If the candidate isn’t getting traction and private funding, the lender has every right to seek comfort in the form of public matching funds.
McCain’s former FEC chair is full of shit. He’s applying a formalistic analysis … “no pledge of existing certification”, true enough. But the campaign effectively promised public funds would be available if the campaign underperformed. Absent a withdrawal, none of this would see the light of day. It’s sneaky shit, and should not be the model for all future campaigns who seek both loans and public financing.
Yes, it’s sneaky and weasely, bigtime. It ought to be aired.
cboldt-
got it.
i will raise it, just as i did the other things. sent it to professors, media, commentators, talking heads, journalists, the list is long.
thank you, will take that next tack in next barrage of letters when i get back in town.
accurate information is a good thing, and that is how i try to send it out.
thanks so much.