State: HRC’s ticket to debt forgiveness?

http://www.politico.com/news/stories/1108/15759.html ^ | November 19, 2008 | Kenneth P. Vogel

[Free ThinkerNY]

If Hillary Rodham Clinton becomes Barack Obama’s secretary of state, she could wipe away her lingering $7.6 million presidential campaign debt.

As the nation’s top diplomat, she would be barred by tradition and ethics rules from partisan political activity, including raising cash to pay off debt from her unsuccessful bid for the Democratic presidential nomination.

And that could give her a powerful case to make to the Federal Election Commission about why it should forgive her campaign debt through a settlement process not unlike filing for bankruptcy.

“Her ability to raise money would be ended by going into the administration,” said former FEC chairman Michael Toner, who recently served as the top lawyer on Fred Thompson’s failed bid for the Republican presidential nomination.

In deciding whether to grant a so-called “debt settlement agreement” and close out a campaign committee, Toner explained that commissioners “look at whether you have ability to raise funds, the length of time that’s passed and whether you are otherwise eligible to terminate.”

That means ensuring that there are no pending FEC complaints against her campaign – which is tough to determine since the commission doesn’t publicly list complaints it’s investigating – and that the vendors still owed money agree to forgive their unpaid bills.

Clinton’s outstanding invoices are almost entirely with Washington-based allies and political firms less likely to clamor for cash than mom-and-pop businesses outside the Beltway.

[Enchante]

"Clinton’s outstanding invoices are almost entirely with Washington-based allies and political firms"

i.e., the $7.6 million will function as campaign contributions far beyond the legal limits, but it will be whitewashed by the FEC -- so why don't we just do away with the preposterous CFR -- what matters most is transparency -- require publication of all donation lists and let voters judge whether it matters to them or not.

[Yo-Yo]

Clinton’s outstanding invoices are almost entirely with Washington-based allies and political firms less likely to clamor for cash than mom-and-pop businesses outside the Beltway.

And those forgiven debts would be write-offs for those firms, and those forgiven debts would be just as good as a campaign contribution to Her Thighness without the legal restraints on giving limits.

Nice.

[Dapper 26]

Since when did the Clintons or any other Democrat be bothered by “tradition” or the law for that matter? If no one prosecutes them for violating the law, what does it matter? HRC will do whatever she damn well pleases and the MSM will either not print her transgressions or give her cover, the courts will “interpret” the law to her favor and the public will blame Republicans. We are in for a good 4 years of Chicago style politics.

[mabelkitty]

Not going to work.
In bankruptcy court, they seize your assets.
Clintons have plenty of assets and money to pay this off and should. It’s immoral not to.

She took a gamble and she lost. They need to pay the debt.

[DoneWithDems]

She still has debt? Damn, Obama should pay it off. After all, she id have 79 rallies for him!
Hillary is a scorned, emotionally abused woman.

[ridesthemiles]

So all the vendors are supposed to get stiffed?

How about the lawsuit that is pending in California over her campaign appearance in 2000 or so, in which Peter Paul is testifying against Hillary?

How does that magically vanish?

[Oldpuppymax]

A job that requires you NOT pay your debts! What will our straight-arrow Washington types think of next!

[Terry Mross]

This was the dirty deal. O told her he would not pay off her debts but he’s make her SOS and that’s just as good.

The Clintons sure are giving up a lot of cash for her to be SOS. Bill has to cut back his speaking and money raising. Well, he’s supposed to. Then again, he’s Bill.