Mitt Romney Forgives His Own Campaign Debt

Monday, 18 Apr 2011 01:42 PM

By Dan Weil

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Until last month, Mitt Romney’s 2008 presidential campaign still owed the once and apparently future candidate himself $250,000 that he lent to his campaign. But in March, he forgave the debt, according to a report his campaign committee filed Friday with the Federal Election Commission, Politico reports.

Romney, campaign debt, forgives, 2008, AP photoObviously someone still believes that to err is human but to forgive is divine. Candidates can give unlimited amounts of money to their own campaign. So Romney essentially converted a loan to a contribution. Romney did the same thing with all of the $45 million he lent to his own campaign.

Clearly Romney, the founder of successful private equity firm Bain Capital, is a wealthy man, though potential presidential candidate Donald Trump claims to be worth “many times more” than him.

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