By last November, John McCain's presidential campaign was broke. To survive, he offered his fundraising lists as collateral for a $3 million line of credit from a local bank. But obtaining the loan required an unusual extra step: He had to take out a special life insurance policy in case he did not survive the campaign.BOTTOM-LINE: IF MCCAIN'S OWN CAMPAIGN AND THE BANK FELT THAT MCCAIN'S ADVANCED AGE AND ILL-HEALTH MADE HIM TOO RISKY FOR A BANK LOAN, THEN HE'S TOO RISKY FOR THE WHITE HOUSE.
... Because McCain would have to be alive to give the fundraising lists their value, Potter said, the campaign took out the insurance policy on him.
Wednesday, February 06, 2008
MCCAIN'S ADVANCED AGE AND POOR HEALTH MAKE HIM VERY RISKY: MCCAIN'S OWN CAMPAIGN THOUGHT HE MIGHT NOT LIVE TO PAYBACK A LOAN