Hillary IS self-financing - $5 million loan in January

Looks like Mark Halperin's question was an apt one. Howard Wolfson confirms that Hillary Clinton DID step into Mitt Romney territory last month, loaning money to her campaign to the tune of $5 mil.

http://tpmelectioncentral.talkingpointsm emo.com/2008/02/hillary_loaned_her_campa ign_5.php

According to Wolfson:

"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."

My thought is that the "Clinton's in distress" storyline will actually help her fundraise, but it looks like Clinton supporters were incorrect to dismiss Obama's monetary advantage moving forward.

Tags: Barack Obama, Hillary Clinton (all tags)

Comments

17 Comments

so basicallly

It works like this.

Bill goes to best friend Burkle. Makes 20,000,000 for "consulting". Dumps it into campaign. Voila! A $5,000,0000 dollar "donation." Then HRC as president kills some regulation that would cause Mr. Burkle to pay an extra 30,000,000 in taxes.  

by highgrade 2008-02-06 10:57AM | 0 recs
Re: so basicallly

Oh, I don't really think that's fair.  Bill's dealings with Burkle may cause problems, but not because their arrangement somehow violated campaign contribution limits.  If what you're proposing was the test, damn near every politician out there would be guilty of such a violation.  

A five million dollar loan before Super Tuesday, however, is pretty interesting.  In the short run, I suspect this will help her fundraising.  Longer term, if Obama wins 4-6 states the rest of this month, I'm not so sure.  Does she have enough folks on  her list that will keep donating if she loses a number of states in a row?  It's all conjecture, but I'm skeptical.  We're already in uncharted territory in terms of primary spending.

by HSTruman 2008-02-06 11:01AM | 0 recs
Re: so basicallly

This is astounding news because, in contrast to Obama, Hillary has taken campaign contributions from registered K-Street lobbyists, and even defended her dependence on lobby money. It ain't all social workers. She has taken from industries representing the military-industrial complex.

Coupled with being a foreign policy hawk, a Clinton presidency would not auger well for the country. The real Hillary is just not known by the public.

by shergald 2008-02-06 11:23AM | 0 recs
Re: so basicallly

This is contrary to the whole nature of the netroots.  I don't see how you can believe in the netroots, participate on MyDD, for example, and support a candidate who is doing something that is so contrary to the spirit of public participation in campaign finance.    

by gobacktotexas 2008-02-06 11:35AM | 0 recs
You want funny?

Go read the comments over at the Atlantic, where I think Ambinder broke this.

Crumbling!  Just Crumbling!

by zonk 2008-02-06 10:59AM | 0 recs
Re: Who cares?

This narrative is not going to hurt her with anyone but the pundits and the Obamanation. the base will make her the underdog which is far from bad for her campaign.

by americanincanada 2008-02-06 11:01AM | 0 recs
I agree with that

I think she can also turn her fundraising around.   Winning CA and NJ was big.   Some more taps will open up.

She does need to do a better job online however.  

 

by dpANDREWS 2008-02-06 11:11AM | 0 recs
There are no more

Her donor base is tapped out... not "broke" tapped out - but they can't legally give anymore.

Go check out Tim Tagaris -- she's mentioning the website in her stump speech now... that's a desperate money begging move.

She's in trouble... you can't just suddenly - on Feb 6 -- think you can just "turn on" netroots fundraising.

by zonk 2008-02-06 11:26AM | 0 recs
Re: Who cares?

this rapes her in the ass

- i am sure you feel a lot smarter

by lori 2008-02-06 11:15AM | 0 recs
Re: Who cares?

Wow..once again...your intellect is astounding. Do you kiss your mother with that mouth?

by americanincanada 2008-02-06 11:16AM | 0 recs
Re: Hillary IS self-financing - $5 million loan in

This is pretty sad, actually. Her large donors are maxing out and she's finally turning to online fundraising. But can she pull it off?  

It might only be politics junkies that notice it right now, but this will have real implications in terms of advertising and organizing. I don't see her performance last night as confidence inducing.

by elrod 2008-02-06 11:20AM | 0 recs
I'm gonna guess no...

One cannot just decide "Hey - I think I'll raise millions online!"

by zonk 2008-02-06 11:27AM | 0 recs
And

and who sends out an e-mail saying we need 3 mil -- the same day you announce you loaned yourself 5 mil?

I mean -- the first comment at the Atlantic says it all...

What do you need MY money for... just lend yourself the 3 million!

by zonk 2008-02-06 11:50AM | 0 recs
Re: Hillary IS self-financing -

I personally never dismissed his money advantage- obviously it is a plus.  But as Mitt proves, money can't buy the nomination.

by reasonwarrior 2008-02-06 11:46AM | 0 recs
Re: Hillary IS self-financing -

So in essence, you admit that Hillary is losing.  

by gobacktotexas 2008-02-06 11:50AM | 0 recs
Re: Hillary IS self-financing

It just shows how poor she is at handling money

by orin76 2008-02-06 05:21PM | 0 recs
Re: Hillary IS self-financing

Are you saying that if she can't run a campaign how in the world can she run a country? /snark

by illlaw1 2008-02-06 05:38PM | 0 recs

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