This is old news, but earlier today, Republican Representative Bob Ney announced he would not be seeking re-election for his congressional seat. Most are speculating that this decision was due to his alleged involvement with lobbyist Jack Abramoff. This is not really news – in itself, but one thing that I have found to be absolutely amazing with this decision is this little tidbit:
By accident or design, the timing of Ney’s announcement works to his financial benefit. Under federal law, he is allowed to use any leftover campaign funds to pay his rising legal bills. As of June 30, he had roughly $417,000 in the bank. (SF Chronicle)
The scandal had complicated fund-raising for Mr. Ney at a time when he needed to pay growing bills to criminal defense lawyers. His financial disclosure forms show that in the first three months of the year, Mr. Ney’s campaign treasury had to spend thousands of dollars more than it had raised, largely because of legal fees. Mr. Ney’s withdrawal allows him to convert what remains in his campaign treasury — $417,000 as of June 30 — to his legal defense. (New York Times)