Because laws are made to be side-stepped

[Kakapo Dundee]

http://www.globalpost.com/dispatch/news/politics/120919/romney-campaign-11m-debt

According to a report in the National Review Online, the Romney campaign took out a $20 million loan prior to the Republican National Convention to help keep the campaign afloat until it could tap into the millions it raised for the general election. The loan was taken out against funds Romney would only be allowed to use after the nomination.


.................................. by law it could not touch those funds. The campaign could only spend primary donations until he officially became nominee.“We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account,” a senior Romney aide told the National Review Online.


A little disturbing to know that this level of law-manipulation is considered ethical by the man who wishes to lead America. Can he really rescue the American economy if he's borrowing money before he's even nominated?

 

[The Man]

Re: Because laws are made to be side-stepped,,,,

What does him borrowing money have anything to do with

Can he really rescue the American economy if he's borrowing money before he's even nominated?

Like that money will effect the rescue of the American economy :24:

 

[Kakapo Dundee]

Re: Because laws are made to be side-stepped,,,,

:wtf:

 

[Stone]

http://www.globalpost.com/dispatch/news/politics/120919/romney-campaign-11m-debt

According to a report in the National Review Online, the Romney campaign took out a $20 million loan prior to the Republican National Convention to help keep the campaign afloat until it could tap into the millions it raised for the general election. The loan was taken out against funds Romney would only be allowed to use after the nomination.


.................................. by law it could not touch those funds. The campaign could only spend primary donations until he officially became nominee.“We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account,” a senior Romney aide told the National Review Online.


A little disturbing to know that this level of law-manipulation is considered ethical by the man who wishes to lead America. Can he really rescue the American economy if he's borrowing money before he's even nominated?

Spending money they don't have appears to be a genetic defect in most politicians these days.
Perhaps we ought to be grateful he's keeping it to only $20 million

 

[Accountable]

http://www.globalpost.com/dispatch/news/politics/120919/romney-campaign-11m-debt

According to a report in the National Review Online, the Romney campaign took out a $20 million loan prior to the Republican National Convention to help keep the campaign afloat until it could tap into the millions it raised for the general election. The loan was taken out against funds Romney would only be allowed to use after the nomination.


.................................. by law it could not touch those funds. The campaign could only spend primary donations until he officially became nominee.“We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account,” a senior Romney aide told the National Review Online.


A little disturbing to know that this level of law-manipulation is considered ethical by the man who wishes to lead America. Can he really rescue the American economy if he's borrowing money before he's even nominated?

This is one point I try to make. Romney and President Obama both view the law as an obstacle to overcome in order to do what you want. They represent organizations that act the same way. We need to put people in office that realize that their job is to make law, respect law, and use law to protect all citizens' rights rather than increase their sponsors' privilege and pacify the masses.

 

[Kakapo Dundee]

Exactly. It may well be that Romney is at a disadvantage because he has to wait until after securing the nomination to secure donations that were given to his party rather than himself. Regardless of that, that is the current law. It shows lack of morals to simply sidestep the law rather than give a reasonable and considered argument for change.

 

[Stone]

Exactly. It may well be that Romney is at a disadvantage because he has to wait until after securing the nomination to secure donations that were given to his party rather than himself. Regardless of that, that is the current law. It shows lack of morals to simply sidestep the law rather than give a reasonable and considered argument for change.

Regardless of that, that is the current law. It shows lack of morals to simply sidestep the law rather than give a reasonable and considered argument for change.

It's not that I approve of the situation, I don't.......but in one of the sources that your article is based upon.....this claim was made:

http://www.nationalreview.com/corner/327793/romney-campaign-borrowed-20-million-robert-costa#

excerpt:

“We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account,” a senior Romney aide says, speaking exclusively with National Review Online.
“This is permitted by Federal Election Commission rules,” the aide explains. “In the past, the FEC has specifically contemplated candidates putting up their public financing payments as collateral.” Since Romney is not taking public funds, his finance team found another option.

Was that statement correct to the letter of the law?
If not, how do the campaign finance laws address this specific situation?