That turns out not to be the case. In fact, this article points out a rather big loophole in federal election law that I was unaware of.
It sure sounds like he can raise "test the water" money, spend it on infrastructure, and stay out of the system. Then later on, announce, go formal and start raising money for advertising etc. Interesting. Thompson has even less motivation to formally announce than I thought. But he still must go through the motions and telegraph his intentions, else his supporters will start getting antsy.Under federal election laws, potential candidates are allowed to raise and spend money to determine whether to get into a political contest. They're only required to disclose those finances if they become candidates.
As a result, if Thompson chooses to run - and indications are that he will - he won't have to file a disclosure report until Oct. 15, after the end of the third quarter finance period. At that point, Thompson would have to report all the money he has raised, including anything he obtained during this exploratory period.
"As long as you are coy enough not to say 'I'm running,' you can stay out of the system," said Meredith McGehee, policy director of the nonpartisan Campaign Legal Center. "The advantage is that you are not subject to the same disclosures. You can be a private citizen. You can get gifts, you can get speaking fees."
The article also quoted a Thompson friend saying that so far the fundraising has been "the easiest money I've ever raised."
Reader Comments ( Page 1 of 2)
1. We all know he's running, even without an announcement. The media scrutiny has started. Bloggers are sizing up his chances.
Still, if he can collect money for his 'potential' candidacy without having to report it to the authorities, I guess that's a good thing, right?
Steve Bonomo at 2:51PM on Jul 7th 2007
2. I am very interested in learning more about Fred Thompson. He seems very solid and learned. Can't wait to see and hear more. He is a star. Does he have skeletons in the closet?? Just curious.
Martha at 9:50PM on Jul 7th 2007
3. I truly like Fred. Need to know more about him. Seems solid and substantial like my Alabama ancestors. Seems intelligent and we know he has chrisma and is a star. Maybe a potential Ronald Reagan?? Does he have skeletons that we know about yet?
Martha at 9:50PM on Jul 7th 2007
4. He is the most level headed of all both the Republicans and Democrats that we could possiblly elect to lead this nation back to the principles upon which it was founded. We must turn this nation around and I believe he has the leadership ability to do just such.
T. .J. Johnson, Jr. at 10:26PM on Jul 7th 2007
5. Fred seems like a pretty good guy. I'm not happy about the choices we have now, but I'd sure like to know more about him!
June Robinson at 1:54AM on Jul 8th 2007
6. Fred seems like a good guy. With the choices we have now, I'd like to know more about him!
June Robinson at 10:38PM on Jul 7th 2007
7. Fred Thompson, seems to be the kind of man who thinks in a practical way. Whatever your personal beliefs maybe, right or left ended, there are two things to remember, 1st-the laws that are in place were put there to give us a standard to live by and 2nd-If you don't like the laws then set out to change them legally. This can be done but it takes more than rhetoric to do it, it takes committment to the task. Whatever the end result, it is still rule by popular thinking and to change that you have got to be a persuader, I believe this is where Fred will be in the front of the line. Go Fred!
E. L. Pope Jr at 1:20AM on Jul 8th 2007
8. Fred is someone who will do the right thing without self importance getting in the way. I would trust him to lead our country to new heights and heal the wounds of the recent past.
Alison at 11:56PM on Jul 7th 2007
9. In reply to Martha, Mr Thompson has a few bones rattling around (as does everyone else who has reached puberty), but there are no skeletons. He combines book learning, common sense, respect for the Constitution, conservative social and economic beliefs, and a strong aura of leadership potential. He also has the greatest probability of defeating the uberwitch Hillary. I am eagerly looking forward to voting for him.
gtbbooks at 11:57PM on Jul 7th 2007
10. fred was a man of high values before everyone has gotter to know him .he helped clean up tenn.
poppie0144 at 12:21AM on Jul 8th 2007
11. I can't hold his lobbying days against him because I have also tried to influence government to do things which would benefit me and my groups. But please tell me he's not another lawyer.
Steve Bonomo at 12:31AM on Jul 8th 2007
12. I ask the universe to please help us to differentiate from true statesmen, willing to sacrifice all they are and have, from those only interested in self-promotion and narcissism. After all what is an actor, really?
Tess at 11:23AM on Jul 8th 2007
13. Fred Thompson is a puppet for a few special interest groups and I believe he is skirting the Federal Election Laws in order to allow his special interest supporters to exceed the campaign donation limitations of the law. But then again fred Thompson has a long history of not playing by the rules going all the way back to the Nixon Administration. Not exactly a grassroots campaign now is it?
timbukto at 1:51AM on Jul 8th 2007
14. It boils down to this: In '08 the GOP gets my vote, just to combat whichever 'prize' the morally bankrupt DNC puts forth. But if the GOP has the wisdom to nominate Fred Thompson, they get my vote and my money! (Mr. Thompson, I can't wait to meet you in Iowa)!
ozzhanson at 1:55AM on Jul 8th 2007
15. Fred is the next best thing to sliced bread. He does not need to spend $400 on a hair cut-he has little hair. This guy has a backbone, and we need someone who will stand up to people who want to destroy the west. Unlike another candidate who preaches about Fem Lib but stands by her cheating dog of a husband just for the last name! Our POTUS should want the job to better America, not just for the power. This country is doing alright, but we need someone who will keep us on the up slope...not send us back down to the 90's.It doesn't take a village to raise a child, Hillary. It takes responsible parents! Something a Liberal would never understand. Until Dems can understand it is not "save a criminal-kill a baby" I won't vote for them.
Heather at 2:07AM on Jul 8th 2007