Matt Stoller at Open Left has the news that may seal Dave Reichert's fate versus Darcy Burner:
What seems to be happening is that the four television stations - King TV, Kiro TV, Komo TV, and Q13 Fox - seem to be extending credit to Reichert.
It seems that Seattle's local affiliates are offering Reichert's media buyer, Media Plus, credit from these TV stations, not Reichert's campaign.
There is no question that this is illegal:
If you loan money to a candidate or political committee, you have made a contribution, even if you charge interest on the loan. The outstanding amount of the loan counts against the contribution limits. Loan repayments, therefore, decrease the amount of your contribution.
Nevertheless, if your loan exceeds the limits, it is an illegal contribution, even if it is later repaid in full. Endorsements and guarantees of bank loans are also considered contributions. Endorsers and guarantors are liable for equal portions of a loan unless the agreement states otherwise. You alone, therefore, may not endorse a $10,000 loan to a candidate committee. There must be four other individual endorsers so that each one is liable only for $2,300, the per election limit.
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