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Saturday, June 14, 2008

Eat It, Rudy

posted by on June 14 at 8:26 AM

Hillary Clinton isn’t the only former presidential hopeful with a big campaign debt. Check out this deeply satisfying story in today’s NYT…

With the Republican Party in need of money for the November elections, former Mayor Rudolph W. Giuliani has offered to appear at fund-raisers around the country for G.O.P. candidates. But there is a catch: He wants some cash out of the deal.

Mr. Giuliani’s aides have told the National Republican Congressional Committee and Congressional candidates that if he makes an appearance, he wants the candidates to help him get rid of his presidential campaign debt.

The unusual request underscores the financial predicament Mr. Giuliani finds himself in, after he ended his presidential bid this year with roughly $3.6 million in campaign debt. Traditionally, prominent party figures help lower-tier candidates by headlining fund…. Mr. Giuliani’s move has irritated some of his Republican colleagues, who say that the arrangement would put an additional strain on candidates who in many cases are struggling to raise money. Some say rather than making a generous gesture, the former mayor is seeking to tap local candidates’ donors.

The NYT gives the knife a few good twists right at the end of the piece:

Political analysts say that Mr. Giuliani’s once prolific fund-raising abilities have been hampered by several factors. Perhaps most significant is the fact that Mr. Giuliani neither holds a position in government nor is a candidate for public office. Both qualities are attractive to donors who are looking for access to government.

Beyond that, the reputation of Mr. Giuliani was hurt by the sudden collapse of his presidential campaign, as well as by the allegations of corruption that hung over Bernard B. Kerik, a former police commissioner in the Giuliani administration.

Giuliani, who is worth $30 million dollars, is particularly anxious to pay himself back the $500,000 he lent his own campaign. Clinton, as we’ve heard repeatedly over the last few weeks, desperately needs to raise funds to retire her debt and is likewise anxious pay herself and Bill back the millions they lent her campaign—and it’s somehow Obama’s responsibility to help her with that.

But why should only donors who invest in campaigns—particularly big donors looking for “access to government”—lose out when a campaign ends, implodes, collapses, etc.? Clinton and Giuliani’s big donors lost every cent that they invested in Rudy and Hillary’s campaigns. Why shouldn’t Clinton and Giuliani too?

RSS icon Comments

1

I love it that Guiliani is suffering monetarily now. It was he that berated Ron Paul in the debates while not knowing anything about repercussions of foreign policy. Counting on big corporations, the RNC, and Florida cost him and I couldn't be happier. The fact is that the future of politics is (hopefully) having a message that resonates with the normal Americans and fundraising through small donations of the many, instead of large through the few. THAT is the main reason Obama is going to continue to raise money and win.

Posted by P to tha J | June 14, 2008 9:13 AM
2

Sorry to be "that person", but I believe the word you're looking for is "lent", not "leant".

Thanks.

Posted by meggo | June 14, 2008 9:23 AM
3

In terms of recovering campaign debt, at least Clinton has something to offer Obama. Her support is extremely important to Obama's campaign.

Giuliani, on the other hand, shit the bed so bad that even his endorsement is meaningless. Not only does he not hold an office, he doesn't even have any prospects.

I'm hard pressed to think of another politician who was generally well-known nationally at the beginning of a campaign (a frontrunner, even), but performed SO poorly that he is likely now out of politics forever.

Posted by Mahtli69 | June 14, 2008 9:35 AM
4

And Clinton still has influence in government. Granted the Senate isn't as influential as the presidency, but those donations aren't a complete loss. I'm sure her donors will also get brownie points for helping pay off her debt.

Posted by keshmeshi | June 14, 2008 11:05 AM
5

I wonder if Rudy will run for Governor of NY.

He would not challenge Schumer for his senate seat. Hillary's seat in 4 years is too long in the future.

Posted by MrEdCT | June 14, 2008 3:19 PM

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