Latest Posts

  • Romney Campaign Owes $11 Million

    If Mitt Romney's previous business experience is any guide, a bunch of people are going to be fired while somebody collects a hefty, barely-taxed dividend

    Before the Republican National Convention, Mitt Romney was the Republican nominee in all but name. By law, however, he could only spend primary donations until he officially became [the] nominee. To increase cash flow during the interregnum, the Romney campaign borrowed $20 million…

    When federal election reports are released later this week, they’ll show debt of $15 million, but the campaign's actual debt is roughly $11 million. The campaign will soon begin fundraising to pay off the remainder.

    The Romney campaign isn't "in debt" in the sense of having more obligations than assets, but they do owe $11 million to the Bank of Georgetown thanks to a bridge taken to remain competitive in the months before FEC regulations permitted them to use their massive general election war chest.

    That, or this is another Romney business venture. Load up the campaign with debt, bet against it on Intrade and sink the entire enterprise. It worked at Bain.

    Photo by Oli Scarff/Getty Images News/Getty Images

    Tags: Debt, Fundraising, Mitt Romney, Money
  • The Most Interesting Fundraiser in the World

    Jonathan Goldsmith, the actor who plays "The most interesting man in the world" in Dos Equis ads, doesn't always host money for fundraisers for politicians. But when he does, they're for Barack Obama.

    Goldsmith is scheduled to host a fundraiser for the Obama Victory Fund next Tuesday in Burlington, Vermont, along with the Speaker of the VT House.

    Even before this fundraiser, the campaign had moved from hope to hops. From beer giveaways  to promises of future beer summits, Obama is desperate for the Joe Sixpack vote. In fact, there's a relationship between beer connoisseurship and support for the president. Remarkably, ff the 25 states with the highest concentration of craft breweries, all 25 voted for Obama in the 2008 election.

    So it's not the case that Obama supporters have only drank the Kool-Aid. They've also downed quite a bit of beer.

    Photo by Glenn Francis/Wikimedia Commons

    Tags: Alcohol, Barack Obama, Fundraising, Vermont
  • Latest Obama Email Very Excited About Something

    Maybe you should take a look for yourself…


    Two exclamation points? Something big must be going on — trouble at the old mill, maybe. Let's see what he has to say…

    River — [ed: Rufus Gifford knows my name!]

    I've been at the convention arena since Monday. My suit is wrinkled, my feet are killing me, and I think I've nearly killed my phone battery from overuse.

    Stop bragging about how you own a suit, Rufus, and get to the part when you ask me for money.

    Spoiler: that's what he does in the next sentence or two. Honestly, I'm starting to worry about these fundraising emails. Sure, they've always been way too dramatic, but at least they used to have actual words in the subject line. This one's just a couple punctuation marks followed by a description of Rufus' physical fatigue. Can a retelling of the dream he had last night be far off?

    Tags: Barack Obama, Fundraising, Internet
  • Obama Campaign Adopts Old Navy Fundraising Strategy

    Yes, Obama's fundraising emails can be a bit melodramatic. (Don't believe us? We made a video.)

    Still, somehow this one is way more depressing…

    Fine, fine, I'll donate to your campaign! Just stop making me sad with your sad Labor Day merchandise sale. And maybe throw in some cargo shorts.

    Tags: Barack Obama, Fundraising
  • Cast of "The Wire" to Headline Obama Fundraiser

    In what is no doubt part of a physics experiment being conducted by CERN scientists to determine what happens when the most annoying segments of American society — pro-Obama liberals and diehard fans of The Wire* – combine into one insufferable mass of bourgeois white people, the Obama Victory Fund is holding a fundraiser with the cast of the HBO show on Martha's Vineyard.

    Scheduled for August 15, tickets run from $500 to $2,500 a person and won't include seeing the President, who is not scheduled to attend.

    Though there's incongruence to an expensive fundraiser being thrown at an exclusive vacation spot being thematically associated with a show set in the bleak urban dystopia of West Baltimore, it's somehow apt.

    The Wire explored how large institutions serve themselves at the expense marginalized individuals while devouring the reformers who hope to make marginal changes in the system. That happens to be the story of the Obama administration's first term.  The Wire is a searing critique of America's drug war. The Obama administration is a key actor in prolonging America's drug war. A few Wire plot-lines explore the corrupting influence of money and politics… and this is a $500 fundraiser. Aren't these parallels uplifting?

    But also, "…is you taking notes on a criminal fucking conspiracy?" Totally, the Obama administration policy on governmental transparency, so maybe the President is taking the lessons of his favorite show to heart.


    * I am one of you people, relax.

    Photo by Andrew H. Walker/Getty Images News/Getty Images

    Tags: Barack Obama, Fundraising, HBO, Money, Television