Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Sunday, 05.20.2018
News Archive
Su Mo Tu We Th Fr Sa
 1  2
 3  4  5  6  7  8  9
 10  11  12  13  14  15  16
 17  18  19  20  21  22  23
 24  25  26  27  28  29
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local

Members Of

Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Feb 01,2008
McCain took life insurance policy for loan
by UPI

WASHINGTON - Republican presidential candidate John McCain's campaign is out of debt after a Washington bank issued a $3 million loan with a life insurance policy.

McCain has raised at least $7 million this month, vaulting his campaign coffers into the black after he took out the loan in November while the campaign was $500,000 in debt, The Washington Post reported Friday.

Finance reports for 2007 submitted Thursday to the Federal Election Commission revealed the loan, as well as the special life insurance policy the bank required McCain to take out in case he died before the end of his presidential campaign.

"It was a big gamble, but I think one of the most important strategic moves the McCain campaign has made," Anthony Corrado, a campaign finance expert at Colby College, told the Post, adding that he was unaware of any other cases where a candidate needed a life insurance policy to secure a loan.

McCain was "rolling the dice to get the money early, and if they won, it would be easy to repay," he said.

© 2008 United Press International. All Rights Reserved.

863 times read

Related news
McCain warned by FEC on campaign spending by UPI posted on Feb 22,2008

McCain 'scandal' story is short on details by The Detroit News posted on Feb 22,2008

McCain, Obama diverge on campaign funding by UPI posted on Apr 10,2008

McCain not using time well, analysts say by UPI posted on Apr 01,2008

Media team resigns from McCain race by UPI posted on Jul 27,2007

Did you enjoy this article? Rating: 4.89Rating: 4.89Rating: 4.89Rating: 4.89Rating: 4.89 (total 18 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County

Tower Theatre
Tower Theatre

The High Desert Museum


Deschutes County

  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?