Saturday, December 6, 2008

Still the potential for an FEC Proctological Exam...

Via Michelle Malkin:

He’s got gobs of cash and lots of grumbly Democrats who want to get their paws on it all.

Legally, he can:

1) donate the extra money to charity

2) Transfer it to another political campaign

3) Dole it out in $2,000 increments to local candidates.
Don't count on him doing anything with the booty just yet. He is not off the radar screen of the Federal Election Committee (FEC). There were a significant number of inquiries forwarded to the attention of the campaign that require response. The general consensus is that Obama will not undergo the FEC Proctology Exam, but that does not absolve the campaign from responding.

My understanding is that the FEC is comprised of three Democrats and three Republicans...and any major effort to initiate a full blown audit would be deadlocked. That doesn't stop a rather persistent auditor from firing off ongoing inquiries that will, likely, result in the necessity to reimburse the donor (read: Good Will, Dodad Pro, etc.) Even the major bundlers to the Obama campaign (recent addition to the Obama transition team, Christina Tchen) have required reimbursements from the campaign for over donating (at least $7,000 in Tchen's case).

Spokesperson for the FEC:
The Obama campaign has received — and likely will continue to receive — FEC requests for more information about some donors or expenses, and that process could trigger an audit, FEC spokeswoman Mary Brandenberger tells us.

"His campaign will be treated like any other campaign," Brandenberger said.
The bottom line is that Obama is not immune from scrutiny as to how he raised that $650 Million just yet. Granted, the chances of someone poking around other than in a cursory fashion is remote. But, the potential still exists at present.

He is not sitting on the throne until January, and there seems to be plenty of evidence that the fundraising applied by his campaign was less than stellar in its prudence. So, I wouldn't expect him to give a red cent to anyone until he is sufficiently convinced that he won't have to give back well over the $30 Million surplus to the non-existent donors, foreign donors, and over-donors.