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Clinton Loaned Campaign $5 Million

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February 06, 2008 3:45 PM

ABC News' Kate Snow and Teddy Davis Report: Late last month Senator Hillary Clinton loaned her campaign $5 million dollars of her own personal money, ABC News has learned.

At a press conference at her campaign headquarters in Arlington, Virginia, Clinton, D-N.Y., said, "I did I loaned the campaign $5 million dollars of my money. That's where I got the money. I loaned it because I believe very strongly in this campaign. We had a great month fundraising in January, broke all records, but my opponent was able to raise more money, and we intended to be competitive and we were. And I think the results last night proved the wisdom of my investment."

The loan came in the same month that Senator Barack Obama, D-Ill., raised $32 million.

Clinton's campaign reportedly raised about $13 million dollars last month. The campaign says that amount does not include the $5 million loan.

"The loan illustrates Senator Clinton's commitment to this effort and to ensuring that our campaign has the resources it needs to compete and win across this nation. We have had one of our best fundraising efforts ever on the web today and our Super Tuesday victories will only help in bringing more support for her candidacy," said Communications Director Howard Wolfson.

February 6, 2008 in Bush, George W., Kucinich, Dennis, Tancredo, Tom | Permalink | User Comments (134)

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This is huge!

She is broke! That's one way of getting her out of our hair!

Posted by: LHall | Feb 6, 2008 3:56:01 PM

The immigration issue is far from over and to set the record straight : the color of their skin, their age, sex, height, weight or political ideas are completely irrelevant and should not be given the same benefits that the legal American citizens have EARNED by hard work and years of up holding the American way and paying their share along the way. Illegals are per definition not legal and must be made legal before they enjoy the fruits of the legals. Pay your dues like my grandparents and most others did by becoming a US citizen by honoring this country not claiming rights you do not deserve or entitled too. Go back to your home land and see what they offer to illegals. NOTHING!

Posted by: Randy Lawrence | Feb 6, 2008 4:03:23 PM

Pretty significant development, I'd say.

Posted by: Paul | Feb 6, 2008 4:17:44 PM

This is a joke! If she really wanted the job, she would give her campaign the money and she would give more than 5 million. They have the money. Her supporters should be looking hard at this. Look at Romney, look how much money he has poured into his campaign. Look at all the others that have poured money into seeking offices, they didn't loan their campaigns money. It is stupid to loan your campaign money, when you are the one wanting the job. She is a total joke.

Is she depending on the voters for everything? That is so funny, a wealthy millionaire is depending on working families to finance her campaign. That would sure make me pause.

Posted by: Kerri | Feb 6, 2008 4:19:02 PM

Candidates self-funding should be banned. Whether it's Romney or Clinton (or even Kerry in the last election), no one should be allowed to buy their way into a nomination while everyone else has to work ten times as hard to raise money the proper way. What message is this sending out? That if you're rich, you'll have a huge financial advantage in the presidential race? Next thing we know, only rich folk will be running for president.

Obama only recently managed to pay off his student loans for his education, and yet he managed to raise $32 million to Clinton's $13 million in one month. That's the kind of example and work ethic I'd want a President to set to the youths, and to America. He went through some tough times in his youth, struggled with misdemeanors and came out on top of everything to become an inspirational figure who worked his way to where he is through his own merits. In the span of mere weeks, he's gained an astounding amount of ground to catch up with the 'favorite nominee', and now they are almost on equal footing even though he lagged far behind before Iowa. His is the true success story.

Hilary was born with a silver spoon in her mouth and has had her entire life paved in gold for her, and she still can't raise enough for her own campaign? Weak.

Posted by: Cat Scratch | Feb 6, 2008 4:22:01 PM

I think it's a ploy

She says she loaned herself $5mil- (how do we know?)- actually she loaned herself nothing- but now everyone feels sorry for her and starts donating to her campaign

Don't be fooled- everything Hillary does is calculated (and probably dishonest)

Posted by: kmnecole | Feb 6, 2008 4:28:39 PM

Obama is still bringing in money hand over foot , and you can bet that February is going to break the $32 Million of January.The thing is , Obama is funded by every day people that are not even close to being maxed out.

Hillary is in BIG trouble and she knows it.

You can look for the "CLINTONS" to start getting very NASTY.

That is fine , because thats whats going to finish her off.

Posted by: James Brown | Feb 6, 2008 4:29:13 PM

In my opinion
The Election results and exit polls only show that:

"Hillary can fool African American Women Voters some of the time, Hispanic Women Voters most of the time and White American Women Voters all the time".
She will not unite this country anymore together than her husband did!

Posted by: Colonel | Feb 6, 2008 4:32:22 PM

actually she "transferred" $10 million from her senate campaign to use in the primaries in the 1st QTR last year. I'm suprised the MSM is reporting she loaned herself $5. Everyone knows all her big donors are tapped out. I agree with previously candidates shouldn't be able to finance their campaign using personal money.

Posted by: floyd | Feb 6, 2008 4:32:52 PM

Senator Clinton isn't strongly in this race because of sympathy.....she's right where she's at because a great number of people know that she will make the best President out of ALL of the current candidates....

Posted by: chris | Feb 6, 2008 4:35:56 PM

Clintons had just invested in their political business and will harvest 100 times back if they got elected. Clintons made politics as a personal self interest profitable business. 34 millions for Obama and 13 millions for Clintons - this comparision doesnot count only the money but also the number of american hearts who invested for a good life. Even with lobby money Clintons were not able even to touch Obama's people money as the same relationship between corruption and us. Obama will raise more money with hopes.

Posted by: Marmayogi | Feb 6, 2008 4:36:20 PM

Maybe a call to Mitt would help her out. He's got money and he's a Massachusetts Democrat--I mean corporate Republican... Just like her.

Posted by: cba | Feb 6, 2008 4:37:29 PM

Why don't you do some real reporting and ask where that $5mil came from?

Posted by: rc2 | Feb 6, 2008 4:37:40 PM

Kerri,

This is a joke but it also unbecoming. Seriously, do they plan on re-cooping the money once donations come in? It just doesn’t make sense and if you think about it. You mean she can’t afford 10-15 million of her own money into HER campaign? It just doesn’t look right when they have so much money; It has the appearance of taking from the voters. It looks sleazy, tacky and greedy b/c they want to spend the voters hard earned money and not their own.

Did John Edwards, Freedman, Bloomberg, etc. loan their campaigns any money for crying out loud? It is an investment - it might pay off and it might not - but don’t look to the average man to bail you out. Change we can believe in? Please. More of the same. This reminds of me of the day they were moving out of the WH and they took furniture that did not belong to them. That was being greedy and looking out for themselves and this is too. How can they ask the avg. man to support a mulit-millionaire. Silly.

Posted by: John H; Grapevine, Tx. | Feb 6, 2008 4:37:51 PM

The numbers to run Clinton and Obama's campaigns are astronomical and could be spent for better causes. Here in the United States,on any given day, over 30 million americans go hungry. I find it very hard to have any sympathy to help the wealthy realize their political ambitions. Even if Obama and Clnton both loose, they will still be worth millions and think nothing of the least of us.

Posted by: evie | Feb 6, 2008 4:38:30 PM

That explains why she keeps tearing up. She didn't want to loose her investment.

Hey Hillary! buy a lottery ticket!

Boo woo woo :(

Posted by: Ed | Feb 6, 2008 4:42:47 PM

There goes Bill's hard earned speaking fees. Time to head to UAE for a more more at $300K a pop. At least we won't have to listen to him here.

Posted by: Not Fooled | Feb 6, 2008 4:44:14 PM

Remember when Terry McCauliff bought their house in Chappaqua for them? The Clintons supposedly were going to pay him back in 5 years. Looks like the party just gives them whatever they want. She didn't really loan herself $5mil. The party will slip the cash back to her, they will owe her interest. It's really brilliant even if it is sort of unethical. I guess Mitt's doing the same thing.

Posted by: TexBork | Feb 6, 2008 4:44:34 PM

Colonel---I resent that. I'm a white American female and I've been supporting Obama for a year now. Let's stop putting people into these politial groups.......that's the politics of division we're fighting against!

Posted by: Cat | Feb 6, 2008 4:45:36 PM

LOL,she is the candidate and say "I loaned the campaign $5 million dollars of my money....I loaned it because I believe very strongly in this campaign. .....And I think the results last night proved the wisdom of my investment."

What a concept, basically she is saying she considers 5 Mil to be "her investment." Translation - even though it's my campaign, when I can spend others' money, why spend mine?
LOL, compared to Hill, Mitt Romney is decent in that he spent his own money for his own campaign.

Posted by: truth4ever | Feb 6, 2008 4:46:43 PM

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