Short Money

Giuliani Plans to Aid Hopefuls, for His Share

From the New York Times:

Mr. Giuliani’s aides have told the National Republican Congressional Committee and Congressional candidates that if he makes an appearance, he wants the candidates to help him get rid of his presidential campaign debt...“In a year when our candidates are struggling to raise money, this is just another burden,” said a leading Republican Party strategist, who was briefed about the mayor’s request. “This is not about helping the party. This is about helping Rudy Giuliani.”

Wow! What balls!

The fact that Mr. Giuliani — who had an estimated net worth of at least $30 million in 2006, according to financial disclosure forms filed last year — has loaned his campaign money gives the fund-raising a particular urgency. Candidates generally have unlimited time to pay off campaign debt. But if any portion of a personal loan to a campaign is unpaid by the end of an election cycle, the maximum amount that can be repaid with money raised after that is $250,000, according to Bob Biersack, a spokesman for the Federal Election Commission.

Guess that window is closing fast huh? Favorite part (emphasis mine):

Political analysts say that Mr. Giuliani’s once prolific fund-raising abilities have been hampered by several factors. Perhaps most significant is the fact that Mr. Giuliani neither holds a position in government nor is a candidate for public office. Both qualities are attractive to donors who are looking for access to government.

Beyond that, the reputation of Mr. Giuliani was hurt by the sudden collapse of his presidential campaign, as well as by the allegations of corruption that hung over Bernard B. Kerik, a former police commissioner in the Giuliani administration.

So I can make a donation so that a multi-millionaire not currently working in public life, who ran a deeply-flawed presidential campaign that imploded on itself before it even got started, can pay himself back some money he lent his own campaign? Sign me up!

It sounds almost as compelling as fighting genocide, disease and (shameless plug) youth arts programs in inner-city communities.

Look, I'm no political strategist but my (unsolicited) advice to Rudy would be:

• Just eat the debt! Pay it off with some consulting gigs and corporate speaking events. You're still America's Mayor, even if you won't be our president, you can make that money back pretty easily. Leaning on some emerging Republican candidates just looks bad.
  

• Focus on building goodwill in the Republican party, and more importantly, re-establishing your relevance and credibility as an important national figure. After the way your presidential campaign embarrassingly collapsed (remember when you were the front-runner and John McCain was dead in the water?). If I were you, I'd be fighting for the chance to help lower-rung Republicans get elected and proving that I've still got some sway with voters.