Cash Low-Romney Striving to Find New Large Donors (has borrowed $20 million & sharply curtailed ads)

[kpete]

Mitt Romney entered the final months of the presidential campaign with a cash balance of just $35 million, racing to find new large donors and rally low-dollar contributors in August even while he raised tens of millions of dollars for the Republican Party.

....................

Mr. Romney’s campaign took in $67 million that month but also spent about that much, twice the rate of spending as in any prior month, according to reports filed Thursday with the Federal Election Commission. More than half of what Mr. Romney raised in August was money he could not spend until after his party convention at the end of the month. And he grew so short of available cash that his campaign borrowed $20 million and sharply curtailed advertising, even while doling out post-convention bonuses to a handful of senior staff members.

The new numbers, along with disclosures filed by major “super PACs” supporting the two candidates, challenge the appearance of financial strength that had burnished Mr. Romney over the summer, and show unexpected strengths for President Obama going into the fall.

While Mr. Romney’s combined fund-raising apparatus began September with $168.5 million in cash, much of it was sitting in the accounts of the Republican National Committee, which reported cash on hand of about $76.6 million. While an estimated $42 million remains in his joint account with Republican Party committees, only some of it will be available to Mr. Romney for his general election campaign.

MORE:
http://www.nytimes.com/2012/09/21/us/politics/cash-low-romney-striving-to-find-new-large-donors.html?_r=2

[Fresh_Start]

1. Romney, I think I heard of an ambitious Republican with literally millions

stashed in the Caymans, Bahamas, and Switzerland....you should ask him for money

[rurallib]

2. there is a group of five brothers who got a huge gift from their dad

but I have heard they don't bet on losers.

[KurtNYC]

3. How much of his own money can he spend?

all of it?

[tanyev]

4. Time to sell off some of your stock, Mitt.

[SDjack]

5. Typical Romney management. Donations are received, not earned.

Expenses are incurred. The campaign is failing. Cash is falling substantially below what the Obama campaign has in bank. So the senior staffers get performance BONUSES. Hey, all you Repug donors -- they just pocketed your money instead of using it to advance your causes.

[HopeHoops]

6. OH NO! He might have to dip into his Cayman Island accounts!

[Skraxx]

7. Romney Is Fleecing Billionaire Suckers, He Will KEEP All The Campaign Funds He Doesn't Spend

And who for a second thinks he isn't looking at that pile of money and drooling over it. It wouldn't surprise me if he's funneling it to himself in some way already. And it's in his best interest to spend as little as possible, cuz he gets to keep anything left over.

So, if we go by his past history, the picture would look like this: Take in hundreds of millions from donors, spend as little as possible, take out LOANS to fund your campaign, then keep the donations and leave someone ELSE on the hook for the loans.

In addition, think of all the cush contracts and consultancies his campaign is doling out to friends, family and businesses he OWNS.