2016 Postmortem
Related: About this forumTrump SCREWED HIMSELF by picking Pence!!!!!!!!
BWAAAAAAHAHAHAHAHAHAHAHA!!!!!!!
When Republican presidential candidate Donald Trump chose Indiana Gov. Mike Pence as his running mate, he dealt a potentially serious blow to his fundraising prospects, lawyers are saying.
Pence is a sitting governor. That means contributions to the ticket will be limited by the SECs 2010 pay to play rule, also known as Rule 206(4)-5 of the Investment Advisers Act of 1940, as amended. The rule prevents SEC registered investment advisers from contributing more than $250-$350 to state or local officials who could select the firm that would manage a state or local pension fund, or some part of it.
That means most hedge funds and private equity firms their PACs, their executives, their fund managers and probably their investor relations staff cant give to the ticket. If they violate the rule, they face a two-year ban on managing Indianas pension money or at least, on collecting management fees and a percentage of the profits they earn for the funds, which certainly takes all the fun out of it for firms.
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This rule doesnt cover contributions to super PACs on its face, said Gross, but most bankers have stayed away from doing that because it invites the SEC, not just the FEC, to look at whether super PACs and candidates are coordinating. If the SEC determines that they are, it could invoke pay to play.
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http://www.opensecrets.org/news/2016/07/pences-pay-to-play-problem/
Midnight Writer
(21,768 posts)I also seem to recall Pence started his political career as a conservative talk(hate) radio guy. I reckon there is plenty o' gold to be mined from his broadcasts.
Journeyman
(15,036 posts)to run your campaign, no matter how pretty you believe she is or how much you want to schtup her.
As Midnight Writer surmises above, Pence will probably resign his office to free up the cash. But I wonder how many more surprises are in store in the coming weeks.
Better lay in an extra large stock of popcorn.
AntiBank
(1,339 posts)to dump Pence? The kids were right there with him. I think the GOPe got to him.
PJMcK
(22,037 posts)In yet another example of his ineptitude, Donald Trump has once again demonstrated that he doesn't know the rules of the game he's playing. Politics is tightly organized and the financial regulations, such as they are, require adherence. In vetting his advisors and now his VP, Mr. Trump shows us that he doesn't even know the right questions to ask before hiring his staff.
Forget his bigotry, misogyny, rudeness and xenophobia. His ignorance of the Constitution has been on constant display. As a lay person, I've never held an elected office but, based on Mr. Trump's public statements, I know far more about how our government works, how our Constitution is constructed and what our laws mean. He has no understanding of civics.
It's as if you sat down to play Monopoly without having read the rules. You would try to make it up as you rolled the dice but you would make mistake after mistake. By the time you've figured out the objectives, the game is over.
Donald Trump is a loser. He's also an idiot.
[hr][font color="blue"][center]"If you're bored then you're boring." -Harvey Danger[/center][/font][hr]