McCain Campaign May Borrow Money For Primary Push
How bad are John McCain's finances?
Bad enough, apparently, that the campaign is considering a loan to tide them over during the last push before the Iowa caucuses and the New Hampshire primaries.
Campaign officials confirmed a report that McCain may borrow money to finance television ads, mailings and other expenses in those states and in South Carolina. The Associated Press reported that the line of credit would be $3 million.
For McCain, taking a loan would be another admission that his campaign is in desperate straits. Once considered the Republican front-runner with seemingly unlimited resources, his campaign faltered over the summer after failing to raise as much money as his rivals.
But taking a loan does not necessarily mean a win is completely out of reach. In 2004, Democrat John F. Kerry took a similar late-season loan, secured against his personal house, and used the money to secure his nomination.
--Michael D. Shear
Posted at 6:52 PM ET on Nov 9, 2007
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Comments
Posted by: chadtaylor7 | November 12, 2007 10:43 AM | Report abuse
Why doesn't Sen. McCain use that nifty public financing system that he passed into law?
Posted by: Fred | November 12, 2007 7:59 AM | Report abuse
R49Thomas :"I thought banks had stopped subprime lending"
Quote of the day. Nice work.
Posted by: soptholt | November 10, 2007 9:56 PM | Report abuse
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McCain has to borrow money because his multi-millionaire, beer-distributor wife won't invest so much as a dime in his campaign. At lease she has some sense!
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Posted by: ImpeachNOW | November 10, 2007 4:22 PM | Report abuse
God Bless our servicemen and veterans. May God Bless the Iraqi people with reconcilliation to end hatred and share the earths bounty. Peace in Iraq means our boys come home and their people can begin rebuilding the country.
Posted by: jameschirico | November 10, 2007 2:20 PM | Report abuse
I thought banks had stopped subprime lending.
Posted by: R49Thomas | November 10, 2007 7:15 AM | Report abuse
Within the last month, President Bush awarded the Congressional Metal of Honor to a US Navy Seal who knowingly sacrificed his life in Afganistan to save his 3 teammates.
The untold story, is that even though only 1 of the Navy Seals was ultimately rescued, apparently 1, who was presumed dead had only been mortally wounded. When his body was recovered, his entire face had been shot off -- a procedure reserved for mortally wounded American servicemen.
Waterboarding has absolutely nothing to do with that trademark brutality that was inflicted on that mortally wounded Navy Seal
Waterboarding has everything to do with minimizing such horrendeous brutality, by timely discovering intelligence information to minimize having to place American servicemen and women in harms way.
MAY ALL OF MY BROTHER AND SISTER VETERANS CELEBRATE THE SACRIFICES MADE BY OUR FALLEN BUT NOT FORGOTTEN VETERANS THIS 25TH CELEBRATION WEEKEND OF THE VIETNAM WAR MEMORIAL IN WASHINGTON, DC AND THRUOUT THE UNITED STATES OF AMERICA.
GOD BLESS AMERICA !!!
Posted by: brucerealtor | November 10, 2007 6:53 AM | Report abuse
The comments to this entry are closed.
Mccain. That guy is ridiculous. He is actually sliding in new hampshire and everywhere else. even national numbers.
why does the media always give this guy a free pass? they just can't get over him. it sure would be nice to be mccain.
too bad he has no shot. one state strategies never work. huck is ht media's new mccain. they love him because he appears to people to be a conservative, but really is a rhino. thompson said it best: "he is a pro-life liberal"