Cain's bigger problem, illegal campaign financing

[Chris]

Cain is unraveling before our very eyes.

His campaign manager was banned from Wisconsin politics in 2001 for doing the same thing he did here.

Funneling money illegally to a campaign.

Can you say Tom Delay?

 

[Chris]

THINGS GO BETTER WITH KOCH....

Cain declared his candidacy on May 3, but he began accepting contributions in the begining of the year, according to disclosures he filed with the Federal Election Commission. Cain did not disclose any reimbursements to the charity and made no mention of the debt. The Milwaukee Journal Sentinel obtained the nonprofit's financial documents, which are not required to be publicly disclosed.

“It does appear to be problematic if all these transactions occurred and none of it is showing up in [Cain's] reports,” said Larry Noble, an expert on campaign finance, ethics and lobbying issues at the firm Skadden, Arps. “It’s illegal not to report something, and the contribution could be illegal.”

The Journal Sentinel reports that Prosperity USA was owned and run by Block and Linda Hansen, who also now works for Cain’s campaign.

According to the financial documents, Prosperity USA received $65,000 in grants in the first half of 2010 and incurred $150,000 in debt to unnamed people as of February 2010. The balance sheet lists $41,113.65 owed to the group from FOH, or Friends of Herman Cain, Cain’s campaign committee.

It also suggests that Americans for Prosperity, a nonprofit group founded by billionaire brothers Charles and David Koch, was involved in helping pay for Cain’s travel as recently as last fall. Before joining Cain's campaign, Block ran the Wisconsin chapter of Americans for Prosperity.

Herman Cain's ties to Wisconsin nonprofit raise legal questions - Los Angeles Times

 

[uscitizen]

Hmm Cain if elected may be the first president to serve while in prison.

Seems like an expert CEO type like Cain would know better.

 

[Chris]

Hmm Cain if elected may be the first president to serve while in prison.

Seems like an expert CEO type like Cain would know better.

Cain and Perry are toast.

Romney will win the nomination.

 

[Chris]

This one is very serious. Felonies do not just go away.

It's only serious to those with PeeWee Herman mentality's

I remember you guys said the same thing about Tom Delay.

Thomas Dale "Tom" DeLay (pronounced /dəˈleɪ/; born April 8, 1947) is a disgraced, former member of the United States House of Representatives, representing Texas's 22nd congressional district from 1984 until 2006. He was Republican Party (GOP) House Majority Leader from 2003 to 2005, when he resigned because of criminal money laundering charges in connection with a campaign finance investigation. He was convicted of money laundering in January 2011 and sentenced to three years in prison but is free on bail while appealing his conviction.

Tom DeLay - Wikipedia, the free encyclopedia

 

[MarcATL]

Ruh Ohhhh..!!

 

[Chris]

Cain accepted illegal campaign contributions from a non profit set up by his campaign manager.

Then he gets caught sexually harrassing two women.

The Romney campaign has to be high fiving itself.

 

[Wry Catcher]

If it's a loan, how is it a donation? The article cited called it specifically an "alleged debt".

Can anyone clarify how a loan is a donation?

When there is no expectation by either party that the loan will be repaid

 

[Chris]

It became a "loan" after they got caught.

If you go to prison, it's your own fault, Mr. Cain.