John McCain's Stinky Finances

YIKES! I might have to vote for Obama. Can't vote for Hillary. Or could I? Not a good year for choices. I was gonna hold my nose and vote for McCain. But man the stench in here is gettin' worse by the day. This bomb shell from the American Prospect should make anybody feel verrrrr uneasy about McCain (if they weren't already): We now have the exact language of John McCain's "second loan," and it is a legal masterpiece, albeit an ethical travesty. Based on the Washington Post report, I inferred that McCain had not excluded public matching funds from the collateral for his additional loan. But it's much more complex than that. The second loan, for $1 million, was actually a modification of the first, and so it continued to exclude the certification for matching funds from the loan's collateral.... McCain essentially traded away for cash his right to choose whether to participate in the system, and even his right to drop out of the presidential race, allowing the bank to force McCain "to remain an active candidate" in order to reapply for and qualify for funds. He was betting the spread (10 points) on his own primary performance! I don't think it's an exaggeration to say this is a promise to perpetuate a fraud on the American taxpayers: if he no longer intended to seek the presidency, he made a legally-binding promise to pretend to remain in the race just long enough to collect public money to repay the loan. MORE at American Prospect...