Where it Stops, Nobody Knows

Mark Schmitt of Tapped on John McCain’s ‘loan’ arrangements:

(This first part is an actual clause from the bank document.)

Additional Requirement. Borrower and lender agree that if Borrower [McCain's campaign committee] withdraws from the public matching funds program, but John McCain then does not win the next primary or caucus in which he is active (which can be any primary or caucus held the same day) or does not place at least within 10 percentage points of the winner of that primary or caucus, Borrower will cause John McCain to remain an active political candidate and Borrower will, within thirty (3) days of said primary or caucus (i) reapply for public matching funds, (ii) grant to Lender, as additional collateral for the Loan, a first priority perfected security interest in and to all Borrower’s right, title and interest in and to the public matching funds program, and (iii) execute and deliver to Lender such documents, instruments and agreements as Lender may require with respect to the foregoing.

(Here’s the document:
http://query.nictusa.com/cgi-bin/fecimg/?_28039612468+0 From this link, you can read the document by page or produce a pdf. Much of it is blurry and boilerplate, until you get to the loan modification agreement starting page 21, which is legible.)

What does this mean? It means that rather than pledge his existing certification for matching funds as collateral for the loan, which would bind him to the system and thus the spending limits, McCain carefully pledged to seek to re-enter the system later, and to use a non-existent future certification as collateral. And while the system is “voluntary,” McCain essentially traded away for cash his right to choose whether to participate in the system, and even his right to drop out of the presidential race, allowing the bank to force McCain “to remain an active candidate” in order to reapply for and qualify for funds. He was betting the spread (10 points) on his own primary performance! I don’t think it’s an exaggeration to say this is a promise to perpetuate a fraud on the American taxpayers: if he no longer intended to seek the presidency, he made a legally-binding promise to pretend to remain in the race just long enough to collect public money to repay the loan.

Is this illegal? Who knows. Note that it took several days of discussion among top lawyers and former FEC commissioners to figure out whether it was even possible to opt out of the public financing system after opting in and qualifying for funds. No one’s ever done that. And therefore, no one’s ever opted back in, after opting out, after opting in. And therefore, no one’s ever borrowed on the basis of a promise to opt back in, after opting out, after opting in. Is your head exploding yet?

RPV: Cat Has Kittens in Oven, Now They Are Biscuits

The RPV is really delusional. That might not come as a surprise to you, but the you might not have seen their ‘blog’.

From their meltdown over the last several years to their embarrassing performance in last year’s elections, the statewide GOP organization has had one misstep after another. Shaun Kenney was hired, then later resigned. George Allen, the hope of the GOP for this year’s Presidential elections, melted down all on his own, and reflected badly on the party. Jim Gilmore is given the chance to be the only nominee for Senate in 2008 from the GOP. Yes, (No Car Tax) Jim is going to get his chance to be beaten by Mark Warner.

Now comes their ‘blog’, ‘VA GOP Caucus’. All the Republican members of the House are listed there. Suitably for Republicans, there is absolutely no accountability at this ‘blog’. Nobody knows who is the editor or who writes the posts. Are we to assume that all the caucus members sign off and approve of what appears on that ‘blog’?

Waldo has been following this story, and has called bullshit about the whole thing. He makes some good points; that Morgan Griffith has argued loudly and long that the video from the House would lengthen sessions, distract members, and turn you into a Democrat. Okay, I made that last part up. So now, this ‘blog’ is putting video of the House up, captured on their own system, and trying to embarrass Democrats.

Democrats could only be embarrassed for their GOP colleagues when they see this ‘blog’. As usual, what you and I see as doing the people’s business, is seen by the Virginia GOP as something that can be pointed out to be embarrassing to Democrats. Moral posturing is the order of the day.

The Virginia GOP should listen more to some of it’s members when they say that this blog needs serious help.

Anonymous commenters are allowed on this cheap blog (on Blogger), and that makes it difficult to even know if the ‘anonymous’ you are talking with/to is the same one.

My summation:

That blog sucks.

Virgil Goode’s Latest: He Walks Away From The Constitution

One of the shames of the week was the performance of the Republican Caucus in the House. John Boehner of Ohio stood up and declared they didn’t have to take it anymore, and left for a prearranged news conference on the steps of the Capital.

Of course, Virgil lined up with all the other good little boys and girls and did what his masters told him to do. You know, kind of like when Virgil votes a certain way on something.

I am so over Virgil Goode and his pandering to racists and xenophobes in our society. His obsession with the so-called ‘North American Union’ is straight out of looney-tunes land. But when he refuses to give his vote, whether he agrees or not, he is not doing the job we sent him there to do for us.

He would rather walk out, play patty-cake for the cameras and the reporters, and say it was a principled stand. His buddies on that side of the aisle, hard not to find someone either retiring or under investigation. People who joined him are the cream of the rancid crop of House obstructionist Republicans, whose motto is, ‘We’d rather walk out than perform our responsibility.’

Honestly, I shouldn’t be surprised. After all, this from a man who thinks the Qu’ran belongs in some other country. A man who thinks he should vote against health care for Virginia children, because the bill didn’t pass his muster, or that of his handlers.

There is no way Virgil Goode should remain in Congress. He has had his chances, and all we got were table scraps. It’s time to elect someone who will get us a little of the brass ring.

Tom Perriello for Congress

Recent Ice Storm Pictures

All photos by Lisa Blanton. (C) 2008

Party Like it’s 1996

Starring John McCain, in the role of Bob Dole.

It’s ‘his turn’, dontcha know.