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former9thward

(33,424 posts)

2. If there is any interest it is set by FEC regulations.

Reply to underpants (Reply #1)

Mon May 16, 2022, 12:34 PM

May 2022

It can't be higher than the standard rate of interest being charged by commercial banks for that type of loan at the time the loan is given.

https://www.fec.gov/regulations/100-52/2021-annual-100#100-52

So no one is "getting rich". They are simply getting their own money back -- at least some of it. Probably half or more of candidates from both parties loan their own campaigns at least some money. If this was not allowed then only independently wealthy candidates could start a campaign.

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The Supreme Court Makes Ted Cruz A Half-Million Dollars Richer [View all] In It to Win It May 2022 OP

With interest? underpants May 2022 #1

If there is any interest it is set by FEC regulations. former9thward May 2022 #2

Yeah sure, a lot of NOT independently wealthy candidates loan themselves $500k. Hassin Bin Sober May 2022 #5

Does the FEC require proof that the loan actually occurred? LonePirate May 2022 #9

I'm sure there would need to be a paper trail upon any investigation. Hassin Bin Sober May 2022 #10

As a former candidate I can tell you yes. proof is required for all financials by the FEC. former9thward May 2022 #11

I was asked about twenty years ago by the State party to run for Congress. former9thward May 2022 #12

So you had 10 grand to piss away on a race you know you couldn't win? Ok. Hassin Bin Sober May 2022 #13

Yes, keyboard warriors know so much about practical politics. former9thward May 2022 #14

I think you need to look up the definition of practical. Hassin Bin Sober May 2022 #15

Leading the way cilla4progress May 2022 #3

Is this retroactive? BSdetect May 2022 #4

Sounds like it. He deliberately overstepped the limit to kill the rule/law. Hassin Bin Sober May 2022 #6

Legislating even when he's in the minority In It to Win It May 2022 #8

Kick dalton99a May 2022 #7

Because... everyone loves Ted Cruz Blue Owl May 2022 #16

seems like open corruption RussBLib May 2022 #17

nope In It to Win It May 2022 #18