February 7th, 2008
06:13 AM ET
7 years ago

Clinton loans herself $5 million

Clinton said Wednesday she loaned her campaign $5 million in January.
Clinton said Wednesday she loaned her campaign $5 million in January.

NEW YORK (CNN) — Democrat Hillary Clinton loaned her presidential campaign $5 million in January, the New York senator said Wednesday.

"I loaned the campaign $5 million dollars from my money," she said at a press conference at her Arlington, Virginia headquarters. "I loaned it because I believe in this campaign and I think the results last night proved the wisdom of my investment."

Earlier Wednesday, Clinton spokesman Howard Wolfson confirmed reports Clinton had lent her campaign money in January, and said "The loan illustrates Sen. Clinton's commitment to this effort and to ensuring that our campaign has the resources it needs to compete and win across this nation."

The news comes days after Barack Obama's campaign announced it had raised $32 million in January alone. Clinton campaign Chairman Terry McAuliffe later said the Clinton campaign raised less than half that in the same period — about $13.5 million. The $5 million Clinton loaned to herself was in addition to the $13.5 million she raised.

In his statement Wednesday, Wolfson also said Clinton's Super Tuesday victories have brought in a fresh wave of campaign cash.

"We have had one of our best fundraising efforts ever on the Web today and our Super Tuesday victories will only help in bringing more support for her candidacy."

According to Clinton's latest Federal Election Commission report, had roughly $18.5 million cash on hand that could be spent during the primary season heading into January’s initial contests.

News of Clinton's loan came the same day the campaign sent out a fundraising e-mail to supporters with the goal of raising $3 million in three days.

"We had a great day yesterday," the e-mail said. "Now we must keep that momentum going. You have sustained me throughout this journey, and I am calling on you again to give our campaign the resources we need to win critical upcoming races."

UPDATE: CNN's Candy Crowley confirms some senior Clinton campaign staff members have agreed to go without pay for a month.

Related: Watch Clinton tout Tuesday's outcome

More 

– CNN's Alexander Mooney and Adam P. Levy


Filed under: Uncategorized
soundoff (79 Responses)
  1. Scott

    The Obama campaign is reporting that they have raised over $6.5 million in the past two days. How can Hillary compete with that? I thought she had the best fund raiser ever working for her campaign.

    February 7, 2008 07:06 am at 7:06 am |
  2. D

    Why is the MEDIA making a big deal about this ?
    Mitt Romney is practically entirely bankrolling his campaign and its been no big deal.........
    Yet again, if Hillary does something shes looked at harder and with more scrutiny than the men ......
    I think our ENTIRE PARTY should get behind a HILLARY / OBAMA
    OBAMA / CLINTON ticket …
    Ignore the GOP,
    of course they DONT WANT our party to unite..
    We are already bringing in more to the POLLS ….
    If we UNITE the party the DEMOCRATS will WIN …….. Unite the Party ….
    UNITE OUR PARTY AND WE WILL CHANGE THE FUTURE

    HILLARY / BARACK 08

    OBAMA / CLINTON 08

    February 7, 2008 07:10 am at 7:10 am |
  3. Elizabeth

    The Obama campaign has raised since Feb 5th $6,691,960. I am not a Hillary hater, so commentors step aside. I'm just saying, he has people ready to get out the vote and move to make his nomination happen. Individual donations= 99.6%

    February 7, 2008 07:10 am at 7:10 am |
  4. SPQR753

    I guess that loaning money to her own campaign shows three things:

    1) Great commitment into what she believes.

    2) The radical right of the GOP knows she is a serious and effective obstacle to the GOP trying to retain power. Do you want a proof?

    When blabbering pundits such as Sean Hannity (a failed seminarist, by the way!) and Rush Limbaugh (not so long ago reported to be addicted (!!) to pain killers) attack her so violently, it means THEY FEAR HER.

    They did not spend much time on the other Democratic candidates, which means they see her as the only imminent and present danger to hard core Republicans.

    Personally I find her a Great Lady!

    February 7, 2008 07:11 am at 7:11 am |
  5. p-brain, Bucyrus, OH

    I wish I had $5 million to loan myself!

    February 7, 2008 07:21 am at 7:21 am |
  6. TH

    Good job Hillary! I sure hope you pull through. Lord knows we are in trouble with Obama as our leader.

    Georgia Republican

    February 7, 2008 09:30 am at 9:30 am |
  7. Justin

    Her intentions are well known, so she can manage with less.

    The real scandal is, that the manifestation of the political will of over 2.2 million voters in Michigan and Florida doesnt care anyone. Should they be punished for party infightings... at least not in a ripe democracy.

    February 7, 2008 09:31 am at 9:31 am |
  8. carol bartley

    Perhaps while Hillary is crying about the $5 million of her own money she had to spend to spin her tale she might make a plan to have an auction and return the furniture she and good ole Bill took when they left the White House , 8 years ago.

    February 7, 2008 10:50 am at 10:50 am |
  9. pam Eugene OR

    It looks like the wheels are falling off your wagon Ms Clinton.
    I am sure there with be some foreign country, PAC or Drug company that will help you out. Maybe the dish washer in China Town still have more money.
    Obama for the people

    February 7, 2008 10:56 am at 10:56 am |
  10. shamous mc

    Maybe the bouncing Smiley from Walmart can kick in a few bucks after all he owes you big.

    February 7, 2008 11:31 am at 11:31 am |
  11. AJ

    pam posted: "It looks like the wheels are falling off your wagon Ms Clinton.
    I am sure there with be some foreign country, PAC or Drug company that will help you out. Maybe the dish washer in China Town still have more money.
    Obama for the people"

    What an ignorant post. Where do you think Obama's money is coming from? He may have it well disguised but I'm sure when investigations start loking into his fundraising they will find dirty politics and cheating. Obama is a disgusting human being who has pulled the wool over the eyes America. If he wins the Presidency I cant wait to see him fail. He will make G.W. Bush look honest and competent.

    And if someone else wins, whether it be Hillary or John McCain I hope they send him packing to political Siberia.

    February 7, 2008 11:32 am at 11:32 am |
  12. Mabuhay America

    Chicagoan-To Hillary supporters(especially young people):Stop bashing Obama.If Hillary wins(I guess not) I Will vote for her.Don't you see that Obama is not only a good candidate-he is a phenomenon?

    ISN'T BRITNEY SPEARS' A PHENOMENON?…BUT WHERE IS SHE NOW?….I DON'T WANT A PRESIDENT WHO'LL PUT AMERICA IN DISGRACE (AGAIN) AFTER THE BUSH ADMIN…WE THE CLINTON SUPPORTERS WANT AMERICA ON THE RIGHT TRACK WHERE COUNTRIES AROUND THE GLOBE WOULD RESPECT US (ONCE AGAIN) AS THE MOST POWERFUL AND RESPECTFUL COUNTRY IN THE WORLD…CAN OBAMA DO THAT?…I DON'T THINK SO…GOD BLESS AMERICA

    February 7, 2008 11:35 am at 11:35 am |
  13. Mark Austin TX

    Interesting that Mrs. Clinton decided not to SPEND her own money on her presidential bid, but rather to LEND it to her campaign. Most independently wealthy candidates spend some of their own money on their campaign, but Mrs. Clinton even says she looks at it like an "investment" - am I the only one who is a little uncomfortable with this?

    I don't want to sound too cynical, but I can't help wondering what the terms of that loan agreement were - like the loan duration and interest rate. Was it an interest-free loan? Or will her campaign have to use the money donated by supporters to pay off the interest on Mrs. Clinton's "investment"?

    If the latter, what are the ethical ramifications of using your own presidential campaign as a source of personal income?

    February 7, 2008 11:36 am at 11:36 am |
  14. tommk

    It is pathetic really, what this woman does to gain a power. She spends her money not for people but for herself only cause of her egositic desire to be a president in big country and first womanish president of USA ( no matter how stupid and hopeless and even the worst but first womanish in history of country ). She imagined it for herself and end. People in USA voted already for such people as she is for instance her husband and Bush – disaster of the world, who cried publicly ( such people are really pathetic ), spent his own money, demolished Iraq and Afghanistan, murdered about 2 millions people and ruined his own country thanks to wars, thanks to him her husband and just her you had had this terroristic attacks too. What is the difference between Bush ( disaster of century ) and H. Clinton:
    1. She and her husband and Bush`s family led very agressive, uncompromising politics and what did it lead to?: to terroristsic attacks in USA and terroristic atacks all over the world. The most important thing is to talk and negotiate and not to bomb, but these stupid, very primitive people as Clintons and Bushs do not understand it. They think that they are the lords of this world even against common sense. Wars and agression even for the price of ruining of own country.
    2. She voted for wars in Iraq and Afghanistan and so she is responsible for death of about 2 mln people. Just such stupid politicians, who voted for these wars just as she have blood of about 2 mln people on own hands and destroying of human life. If she does not know what to make with money she should give money for victims of wars caused by her. She has bllod on her hands just like her unrivalled paragon – Bush – just politicians as she is.
    3. She voted for sanctions against Iran and so, maybe she wants to have a new war with this country. If she would be a president it means that agreemen between USA and Iran is probably not possible.
    4. And what about economy of USA? it is visible after Clinton`s character, her all political carreer. This woman will continue politics of Bush and her husband till moment of total ruining of USA. I don`t know, but USSR led similiar politics as USA now and it fall down. Maybe it is time for USA. The one thing is certain. The next war or continuing present wars – USA will be in a few years big bankrupt. And Clinton has no plans to end curent wars. Besides she began thanks to her voting both these wars and as small side effect she ruined own country thanks to her desicion. And it is not only Bush. Just she is one of this politician, who ruined own country.
    5. Her manifesto relies upon critics of Bush and saying the packs of lies and populitistic fairy tailes: ,, i will change all,, but in which way it is not known.
    SHE WILL CHANGE NOTHING. SHE WILL CONTINUE ALL. NEW CHAOS, NEW WARS.

    February 7, 2008 11:36 am at 11:36 am |
  15. joli

    wow way to unite dems sounds like a united party... beating each other up when the other is down on cash... lol... btw both Hillary and Obama have big Companies behind them...whether you want to call it Pak money or not...lol

    Im am a Ron Paul supporter...we invented the money bomb... The $$$ never really got us that far. Im proud to say I never once laughed at Ron's rival Reps who had cash struggles... ie Huckabee and McCain. Sad to see you guys go all Lord of the Flies on each other... guess the Dems are not as united as I thought. Their support of one candidate is based on their "hatred" of the other...

    February 7, 2008 11:47 am at 11:47 am |
  16. Beth

    Dems are torn inside. How do you balance Hillary's brilliant policies with the hundreds of thousands who are dead and millions suffering? Can her policies bring the dead back to life? Democrats criticized Republicans for re-electing the liar who started this war, Bush. Now they are giving up their moral authority by voting for the liar Hillary, who placed her political bonafides above human lives. How do people reach down into their pockets and send her money for that?

    It is very easy, however, to contribute to Obama. When others played on the fear and anger of the people of this country, he told us the real enemy was fear itself, and that a war in the middle east would be disastrous for the U.S.

    In the memory of all those who have unjustly died in Iraq and their suffering families, let's show the world that Americans are truly outraged at the leaders who mislead them into starting an unnecessary war. Contribute to the Obama campaign today.

    February 7, 2008 11:48 am at 11:48 am |
  17. Freida NYC

    All of you Hillary haters...please leave her alone!!!!

    February 7, 2008 11:48 am at 11:48 am |
  18. Debbie

    I hope she pulls through too! Obama is just another common, slick politician who is using the internet and videos to target new voters who arent considering his lack of experience. He was very uncomfortable during all the debates, and tried to appear presidential. I wonder if these people even watched them. Hillary, however answered all questions with detail – she has the vision and the knowledge. Obama will plateau, once the voters begin to tire and question his empty, unsubstantial speeches that mimic the 60's. Hardly a change. But then, he isn't very original, is he? How about some debates? Why does the media protect him so? What are they afraid of?

    February 7, 2008 11:50 am at 11:50 am |
  19. Nick

    Ok, I honestly don't care she did that, whatever, her money. But CNN is wrong to conclude that they disclosed it because Barack Obama raised $32 million. It's because it was known their campaign as getting short on money and if the media caught wind that she contributed $5 million to her own campaign later on without her disclosing it, that would look bad desperate. As someone in the PR industry, I know thats how the game works, its taking preventive measures from media cynicism. She may recieve a little still, but using her Supe Tues as a measure of success for her decision was smart. She didn't disclose is before Tuesday and that was smart, because it would have looked desparate. She didn't wait to long, because that would've looked decieving. Good play. Analyzing PR make me excited, sorry.

    All campaigns plan like this, so it not just her. Also, lets have less mindless bashing on these comments. They were fun to read for awhile, now its kinda sad.

    February 7, 2008 11:50 am at 11:50 am |
  20. Change is in order!

    And when this doesn't work....she'll go afte rthe delegates in Florida that everyone agreed would not be used! Talk about being desperate to win and by any means necessary! If she gets those delegates that were not supposed to be used.....the Democratic party would split...because we would want to know how and why should we support her just for the cause! This is called "STEALING THE PRIMARY ELECTION FROM A VALUABLE CANDIDATE"! I honestly don't think that the Democratic Party want to have another four years of a republican president because that is exactly what they will get if they don't stop the Clintons from this sense of "WINNING BY ANY MEANS NECESSARY"! IT REPRESENTS A BAD IMAGE OF THE DEMOCRATIC PARTY!

    February 7, 2008 11:51 am at 11:51 am |
  21. Deirdre, CA

    Good for you, Senator Clinton. Nothing wrong with kicking in funds of your own. Romney has done it to the tune of tens of millions. At least yours came from your own pocketbook, not campaign contributions from Rezko and Exelon in exchange for political favors.

    February 7, 2008 11:52 am at 11:52 am |
  22. TJ

    Funny... Obama didn't have to "loan" himself any money....

    February 7, 2008 11:53 am at 11:53 am |
  23. georgia

    and just where did Hillary get 5 million bucks??? she doesn't have family money, certainly did not earn that much (even including Bills income)..so do you smell ANOTHER scandal here?? along with all the cheating, lies and corruptness the Clintons are known for..here comes more of the same..who wants it again?? a whole bunch of us, that's why we have and will vote for Mr. Obama. and besides, Hillary is to old, too fragile, she's too emotional ,tearing up regularly during her campaigning,,,I ask you, how can someone so weak even think she can be the leader of this Great Country..(well, it will be great once again, after we get rid of Bush and elect Mr. Obama)...5 million bucks, huh?? what a laugh!!

    February 7, 2008 11:55 am at 11:55 am |
  24. open your eyes - FL

    Trying again....

    Seriously now… do you have no better way to try and raise money than to have a pity party and pitch yourself as the underdog? Give me a break. Her supporters will eat it up too. Oh, Hillary! I'm so sorry! Here, take $50! Come on, girls!

    Her staff is going a month without pay? How horrifying! We better donate now!

    Everything this woman says or does has some kind of alternate subtext. If you were in a car with her and driving, she would try and get you to turn left by arguing that going right is a horrible idea.

    As soon as her campaign raises $5 million, her $5 million carrot will be removed and her staff will be given back pay (if they actually didn't get paid to begin with).

    Just who we need as president… another conniving politician. It blows me away how so many seem to think she is the epitome of moral greatness and would best represent this country on the world stage. Are you kidding? Are you really that ignorant/uninformed about all the lying, conniving and back-door dealing this woman does and has done? Unreal. You think Barack will perpetuate Bush yet Hillary/Bill are great friends of the Bushes and in bed with the Saudis just the same? Get a clue people. Even if she beats Barack, she'll never make it past McCain... they've been prepping to destroy her for the last 8+ years. They'll expose her completely.

    February 7, 2008 11:55 am at 11:55 am |
  25. Andy Boucher

    Is this the money that her and Bill had stashed in the Cayman Islands? It continues to upset me that people like Hillary, and Obama, who want to raise taxes, along with John Edwards, benefit from off-shore banks and IRS Loop holes...

    Hey, if you dems feel we should pay more taxes, there is a check box on your 1040 that you can select and send in as much as you want... For me, 12 billion in pork, from the Democratic "vote for change" congressional and senatorial elections in 2006 have only proved that they can indeed spend more money. Shame on the republicans for how they got to be, but also, shame on the democrats for proving them right that they would spend more on pork then them.

    12 billion dollars would buy a whole lot of health insurance for those that need it...

    February 7, 2008 11:56 am at 11:56 am |
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