Kerry loans presidential campaign $850,000, says bigger loan to come

[dajabr]

(12-18) 14:33 PST WASHINGTON (AP) --

Democratic hopeful John Kerry has loaned his campaign $850,000 and will mortgage his Boston home to come up with more campaign cash, marking the first time a candidate has tapped his personal fortune in the 2004 presidential race.

The Massachusetts senator, once considered the front-runner in the Democratic field, has been struggling to overcome Howard Dean's political and financial lead in the race.

"This is a clear statement by John Kerry -- he is in the race to win the nomination and defeat George Bush," campaign manager Mary Beth Cahill said in a written statement.

Following Dean's lead, Kerry last month became the second Democratic candidate ever to opt out of the presidential public financing system and its spending limits, freeing him to devote as much money as he wishes to early voting states such as Iowa and New Hampshire.

More: http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2003/12/18/politics1726EST0754.DTL

[helleborient]

1. Mary, this is a clear statement John Kerry wants to buy the nomination...

And will mortgage his house to do it!

[NewYorkerfromMass]

7. think what you want, the truth is he will OWE no one if he wins

I see it as simply having the courage to back up his convictions.

[helleborient]

9. A small list of other courageous individuals....

Steve Forbes
Peter Fitzgerald
Michael Huffington

This is the courageous group John Kerry is eager to join?

[blm]

13. better than KochIndustries money that Dean got to seed his campaign.

What's in your files Howie?

Vermont Yankee deal with the Koch Brothers?

BFEE got your tongue, Howie?

[HFishbine]

19. Link? Source?

Documentation?

[blm]

25. Vermont Yankee sold to Entergy/KochIndustries.

Conservation Law Foundation asked Dean for the papers, but he refused.


Yankee deal may not be so sweet

December 22, 2001
(from the Central Vermont (Local News) section)

By Susan Smallheer

STAFF WRITER

MONTPELIER — An independent analysis of the proposed $180 million sale of Vermont Yankee nuclear power plant to Entergy Nuclear Inc. shows that consumers would pay $167 million more for electricity than if the power was purchased on the open market.

The economic analysis, done by Jurgen Weiss of Cambridge, Mass., an energy economist and expert witness for the Conservation Law Foundation, was based on a power study forecast prepared for Green Mountain Power Corp., according to Mark Sinclair, senior attorney for CLF.

Entergy Nuclear has offered $180 million for the Vernon reactor, but it is coupled with an 11-year power contract.

“Now it is clear why Entergy was willing to pay so much for Vermont Yankee, it’s a sweetheart subsidy from Vermont ratepayers,” Sinclair said Thursday.
>>>>>>
http://timesargus.nybor.com/Archive/Articles/Article/39641


http://timesargus.nybor.com/Legislature/Story/43125.html


Dean raises money from energy sources

February 27, 2002

By David Gram

ASSOCIATED PRESS

MONTPELIER — When Gov. Howard Dean wanted to raise money for a possible presidential bid, he followed the example of a former governor of Texas and called on his friends in the energy industry.

>>>>>>>
“Administration actions going back some years betray an inappropriate coziness with the utilities,” said Paul Burns, executive director of the Vermont Public Service Research Group. “I am not prepared to say it’s a result of contributions given. But these contributions present the appearance of impropriety or appearance of influence that it probably would have been better to avoid.”
>>>>>>
A list of the Governor’s Council of Economic Advisers includes Green Mountain Power Corp.’s chairman, two company board members and a vice president, all of whom made donations to the Fund For A Healthy America. It also includes two longtime utility lobbyists.

Over the years, the governor has sided with the utilities on many of the most pressing issues, including the push for deregulation of the electric industry, and later backing away from that as a goal. Among other major decisions:

— After years of pushing for the companies to absorb the excess costs of their expensive contract with Hydro-Quebec, Dean’s Department of Public Service agreed to let ratepayers be billed for more than 90 percent of what those excess costs are expected to be in the coming years. The extra costs will be in the hundreds of millions of dollars.
>>>>>>>

[oasis]

31. Shine a light on Dean's dealings and the Deanies scurry like "cockroaches"

:-)

[KaraokeKarlton]

32. The Vermont Yankee sale was far too complicated an issue to

accurately critique in one post. Dean did the right thing and the state supported him almost unanimously.

As for these contributions...it was from individuals who worked for those companies, not the companies themselves...and it wasn't even a very impressive amount of money anyhow.

I'm wondering what Vermont Yankee has to do with Kerry mortgaging his house, though. :shrug:

[NewYorkerfromMass]

17. I prefer Jon Corzine, Ted Kennedy, et al.

if you want to measure up people's wallets as any standard of character.

[maddezmom]

22. excellent examples :)

[Hippo_Tron]

26. Isn't Kerry worth like 100 million or so? Or at least his wife?

Why the hell does he need to mortgage his house?

[Demobrat]

30. He can't use his wife's money.

*

[blm]

33. Kerry has his own money...

not sure if his mother's will was settled since she passed away in 2002, though. I believe he's upwards of 100mil. on his own.

His wife's assets are about 500 mil.

[nothingshocksmeanymore]

50. Banks and drug companies bought Bush

I'll take ketchup running my life :D

[stickdog]

2. Those who have the gold rule.

"This is a clear statement by John Kerry -- nobody else is giving him any money," campaign manager Mary Beth Cahill said in a written statement.

[sallyseven]

20. Well I sent a check yesterday to John

I like him and I think he is better than the other candidates. Clark is my second choice. I am not sure whether I don't really care for Dean because of what he says or that I ran into so many Dean supporters last summer at the convention. They were loud, rude and obnoxious. Turned me right off. I will vote for him if he is the nominee but I prefer others. You Dean People may want to think about your behavoir.

[babzilla]

41. what convention was that?

What convention did you attend last summer where you ran into loud, rude and obnxious Dean supporters?

[Rose Siding]

3. If you got it, flaunt it

He has every right to do this but MAN I hope it gets tons of press. Didn't Steve Forbes have to contribute heavily to himself?

[LuminousX]

5. Is there a Return on Investment on that loan?

[LuminousX]

4. Here's a phrase that has been used too often regarding Kerry

Following Dean's lead, Kerry...

[dajabr]

10. Following Dean's lead...

Kerry has asked the bank to pay out the loan in $77 increments. :evilgrin:

[helleborient]

12. LOL

I'll be heading to my Victory in Iowa letter writing tonight with a smile on my face.

[DemOutWest]

23. A smile

because you are happy? It is becoming a sick world when Democrats take pleasure in something like this.

Everyone is asking to unite, especially the Dean Supporters.

I will go to my Kerry Meet-up tonight with confidence and ready to work. Because the future of our country is not something to smile about.

I agree with an earlier poster, don't burn your bridges behind you.

DemOutWest

[blm]

6. Thankfully, he can save the race for us liberals who don't trust Dean

Thankyou, Sen. Kerry. Hopefully the truth will matter in this race.

[stickdog]

42. Why don't all these rabidly anti-Dean liberals save him the trouble

by sending him a few bucks?

[helleborient]

8. Here in Illinois, when we elect people based on personal money...

We get Peter Fitzgerald.

When we elect people based on quality of candidate, we get Dick Durbin.

[Padraig18]

36. VERY well said!

:hi:

[demgrrrl2004]

11. Throw in the Towel!

This is sad. I like Kerry. I don't think he should be spending this much of his personal money, though. It's time to throw in the towel.

[nomaco-10]

16. Clark is hot on his heels....

Kerry is fighting for his life and if he doesn't put more numbers between him and the General he knows it's all over. If Clark beats him in NH, Clark will be on his way to the nomination.

[dave29]

14. Borrow and spend

:eyes:

[Myra]

38. Oh save your smears for a more appropriate thread dave29.

Clark's campaign has very few parallels with Kerry's,
or with anyone elses. It's unlike any other.

On second thought; there's no appropriate thread for your
cheap shot.

[arcos]

44. hmmm... I think Clark was never mentioned in dave29's post... n/t

[Myra]

48. Oh. Duh. I hate reading my gibbrish posts after the drugs wear off.

Whoops.

[maddezmom]

15. it's his money...who cares what he does with it.

good for John Kerry hope he spends it well.

[Kamika]

18. Man I feel sorry for him

He shouldn't have to mortgage his home.. he should just accept the fact, and pull out

[NewYorkerfromMass]

21. People feel even sadder for quitters

save your pity.

[DemOutWest]

24. Don't feel sorry for him

he is doing this because he knows he is in this race until the end. Feel sorry for the country if Kerry or Clark is not the nominee.

[Jack_Dawson]

27. Dude Hit up your WIFE!

Is this really the same guy who turned his back on matching funds? This is sad - drop out already and give us your supporters.

[dajabr]

47. I don't think the law permits that.

Nor will it allow her to co-sign for loans either.

[Patriot_Spear]

28. This is where Kerry's deep pocket's are going to hurt Clark.

Do you think this is why Clark turned negative and attacked Kerry's service record?

[slinkerwink]

29. it might be.

[Renew Deal]

40. Got a link

I would love to see that.

[maddezmom]

34. could you provide a link to that comment?

I'd like to see it?

[Tom Rinaldo]

35. Hi Patriot

See, I got your name right this time lol. How are you reading this news? It seems differently than me. Kerry has moderately deep personal pockets, true, because he owns an expensive house that he can mortgage to raise quick money. Mortgaging one's own home is a sign of personal conviction definately, some courage too, and maybe even personal confidence. Mortgaging one's own home is NOT a sign of having deeper pockets than Clark however. It indicates the opposite to me.

If Kerry was so keeen on the advantages of mortgaging his own home to pay campaign bills, why didn't he do it earlier in his campaign? I think it's because earlier in his campaign Kerry's fund raising efforts were on target and he didn't need to take such dramatic measures. The article indicates that Kerry does not own a string of such houses that he can keep mortgaging to rasie additional money for his campaign from as it is needed. Now not only does Kerry have to keep raising money for TV ads and the like in the big state primaries coming up, but theoretically he now has to raise the money to pay off his mortgage loan also. The rules do not allow his rich wife to offer much help in this regard.

The money Kerry will seemingly raise by mortgaging his home is only a fraction of the money that Clark is expected to raise from his ongoing fund raising efforts this quarter. I think you should rethink your conclusions about who is showing the deeper pockets.

Having said that, my hat is off to Kerry. I honestly appreciate his fighting spirit and his willingness to back his campaign with his own not at all unlimeted personal assets. He is rapidly running out of funds and options, and now is the time for him to swing for the fences if he has any hope of winning.

[Myra]

37. Ohmygod. Talk about putting your money where your mouth is.

Man...that's impressive.
The guy's wealthy; he doesn't need this massive headache.

There's something really touching about this.
And sickening, in that it underscores how only the
super rich can be candidates for president.
(Meaning that it reflects horribly on the system,
not him.)

Wow, Senator Kerry does have gonads.
I didn't think he could surprise me anymore...

[stickdog]

43. Yeah, to run for office nowadays you must be either super rich or

Howard Dean.

[SahaleArm]

46. Howard Dean's poor? n/t

[Myra]

39. The symbolism here is pretty powerful too...

Mortgaging the American dream.

Phew. Ok Senator Kerry, you got our attention...

[opihimoimoi]

45. In Poker parlance: ITS ALL IN

This is it, ALL IN means you betting all you got on the table.

[Myra]

49. If it's poker he'll need a full house...

Never mind, sorry.

:evilgrin: