You know how Hillary and her supporters keep talking about how she’s raising money for other Democrats to run? Like that $15 million she raised with George Clooney?
Well, about that.
First, watch this video from The Young Turks which gives a solid rundown on the huge money laundering scheme Clinton and the Democratic National Committee have been running for the entire campaign:
This involves using loopholes in the campaign finance system to funnel much larger donations to Hillary’s campaign than is allowed for by law. It’s also an enormously unethical breach in party ethics because the DNC is not supposed to play favorites during a primary (which was why Tulsi Gabbard resigned from her second-in-command DNC position to be able to campaign for Bernie Sanders, unlike Debbie Wasserman Schultz, who has carried water for Hillary Clinton every step of the way). And there may be actual violations of campaign finance law, as the Sanders campaign said yesterday.
Okay, so they have this YUGE scheme that funnels cash through the state parties and the DNC into Hillary’s Victory Fund. And Hillary’s Victory Fund is where all that money she’s supposedly raising for other Democrats is supposed to go. Well, about that.
According to the Washington Post:
“’It’s time to rebuild our party from the ground up,’ the former secretary of state pledged. ‘When our state parties are strong, we win.’
“The joint committee that was formed, called the Hillary Victory Fund, ended up raising nearly $27 million by the end of 2015, thanks to six-figure donations from longtime Clinton allies and a New York fundraiser headlined by the singer Sting.
“So far, the state parties have served only as a pass-through for their share of the funds. Campaign finance records show that nearly $2 million in donations to the fund initially routed last year to individual state party accounts was immediately transferred to the DNC, which is laboring to pay off millions of dollars in debt…
“’I’ve never seen anything like this,’ said Lawrence Noble, a former general counsel of the Federal Election Commission (FEC) who is now with the nonpartisan Campaign Legal Center. ‘Joint victory funds are not intended to be separate operating committees that just support a single candidate. But they appear to be turning the traditional notion of a joint committee into a Hillary fundraising committee.’”
So out of $27 million, only two million was sent to the state parties for their candidates, and that money was then returned to the DNC to pay its bills. That was last year.
According to Politico, in the first quarter of this year, the Hillary Victory Fund raised $33 million:
“The idea is that the committee will help the state parties raise money for their general election efforts, an area where Clinton’s allies argue that her insurgent rival for the Democratic presidential nomination Bernie Sanders has done little…
“Yet, during the first three months of the year, the $2 million transferred by the Hillary Victory Fund to various state party committees paled in comparison to the $9.5 million it transferred to Clinton’s campaign committee or the $3.5 million it transferred to the DNC.
“And the Hillary Victory Fund also spent $6.7 million on online ads that mostly looked like Clinton campaign ads, as well as $5.5 million on direct marketing. Both expenses seem intended at least in part to help Clinton build a small donor base, an area in which Sanders has far outpaced her.”
So, in short, the Hillary Victory Fund raised $60 million. Of that, most of it went either directly to Hillary’s campaign or toward promoting her campaign. Only $4 million went to state parties, and at least half of that boomeranged back to the DNC to pay its bills.
All those Democrats lower on the ballot aren’t getting much help when you get right down to it. You know what would really help them? A YUGE excited voter turnout in November.
And if the Democrats want that, Hillary isn’t the candidate they should be supporting.
UPDATE: A recent piece in Politico reports that even less of the money is remaining with the state parties, only 1% of the $61 million raised to date.