January 30, 2007

MAVERICK ISN'T GONNA LIKE THAT:

How Mitt Romney Avoided Campaign-Finance Rules (Wall Street Journal, 1/30/07)

Federal law limits how much money individuals can give to presidential candidates -- $2,300 per election. But what about Compuware Inc. founder Peter Karmanos? Last year, he gave $250,000 to presidential aspirant and former Massachusetts Gov. Mitt Romney. Since 2004, 15 other Romney backers have sunk at least $100,000 each into the Republican's coffers, sometimes with a series of checks issued on a single day.

Because he doesn't hold federal office, Romney became subject to the federal rules only after he set up a presidential exploratory committee earlier this month. Until then, his team took advantage of a little-noticed gap between federal and state law. While most states limit political donations, about a dozen don't. Romney's political team set up fund-raising committees in three of those: Michigan, Iowa and Alabama. During that time, his political action committees raised $7 million.

As a result, Romney was able to hit the ground running, a big advantage in what has already become a feverish race.

Posted by Orrin Judd at January 30, 2007 9:42 PM
Comments

So? As it says, he wasn't subject to the federal rules until now so it doesn't matter. Anyways, McVain isn't going to play by the 'rules' for '08.

Posted by: tps at January 31, 2007 7:20 AM
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