quasi in rem

Friday, January 23, 2004

John Kerry's Big Decision

How to Spend the Money?

With John Kerry's Iowa win, the money has begun to pour in. AP reports that: "Kerry, the four-term senator from neighboring Massachusetts whose campaign was given up for dead just weeks ago, has seen an infusion of more than $750,000 in cash from Internet sites alone since his win in Iowa, aides said." Which begs the question: how to spend the money?

Prior to Iowa John Kerry loaned his campaign significant amounts of money, upwards of 6 million by some accounts, and now he faces the decision of whether to spend this infusion of cash on repaying himself, or on spending it on continue campaign efforts.

Clearly, if he feels he can win in New Hampshire and then go on to win the nomination, he is not going to repay himself now, there will be plenty of time for that after the convention. However, if his advance polling in South Carolina/Missouri/Oklahoma and the next round of primaries looks bleak, and before Iowa they did, then maybe now is the time to pocket the new cash.

Of course, John Kerry has all that Heinz money to fall back on in his personal life so this money may just be gone. But if he begins to pay back his loan then it will give an insight into his campaign prospects for the future.

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