Sunday, February 15, 2009

Collect Graft Legally

I had always wondered how elected politicians got so rich in office without getting arrested for taking really big bribes, and now, thanks to Ed Morrissey, I have at least part of the answer.

A politician makes a loan to his or her campaign. The campaign fund then starts paying it off.

The politician sets the interest rate in the middle stratosphere, and may allow the campaign fund to pay interest only.

The politician then holds fundraisers to pay off the debt.

Donations to the campaign fund go directly to the politician. Properly managed, the debt will never get paid off, but the politician will, as everybody knows where the checks are going. The linked article references California Representative Grace Napolitano, but I remember Hillary Clinton loaning her campaign fund quite a bit more than the $150K that Grace has now leveraged up to $250K.

Hillarys $11.4M loan must be collecting interest from every tin horn dictator in the world who wants a favorable review from the new Secretary of State.

It's the sort of institutionalized corruption we should be acting against. Write your elected representative today and..... Oh, never mind.

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