Finance law keeping Hillary in the race

(Boston Globe)

Hillary Clinton may have a financial incentive to remain in the presidential race for a while. And she has Senator John McCain to thank for it.

Clinton has loaned her struggling campaign $11 million in recent months. A little-known provision of a 2002 campaign-finance law cosponsored by McCain prevents candidates who drop out of the race from raising money after the nominating conventions to repay themselves for personal loans.

If Clinton fails to come up with the funds by the Democratic convention in August and she fails to gain the nomination, she will be out the $11 million. If she quits before then, she may find it hard to get people to keep giving cash so she can retire her debt.

That may ratchet up pressure on Clinton to cut a deal with rival Barack Obama, who is keeping the door open to possibly helping pay her debt, which also includes more than $10 million in unpaid bills to vendors and consultants.

"Helping to pay off the debt would certainly be a clear signal of Obama's desire to bring the two candidates together," said Anthony Corrado, professor at Colby College in Waterville, Maine.