Der Mittenfuhrer and the strategy that only a campaign finance lawyer could love

[Ian David]

Romney and the strategy that only a campaign finance lawyer could love

Romney and the strategy that only a campaign finance lawyer could love
by: David
Tue Jan 30, 2007 at 12:46:31 PM EST

Today's WSJ has a lengthy front-page article (sub. req'd) on Mitt Romney's evident skill at exploiting loopholes in campaign finance law. It's all legal, at least as far as anyone knows. But if you were wondering why Romney set up a PAC in Alabama, which is neither an important primary state nor a state to which he has any connection, your question has been answered. The whole thing is after the flip. This graphic summarizes his basic strategy. If it wasn't obvious already, this helps make the point that campaign finance regulation is largely a joke.



TESTING THE LIMITS
How Mitt Romney Avoided Campaign-Finance Rules

Governor Found Way Around Federal Caps Before Presidential Bid
By JEANNE CUMMINGS
January 30, 2007; Page A1

WASHINGTON -- 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, Mr. 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. Mr. 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.

More:
http://www.bluemassgroup.com/showDiary.do?diaryId=6127