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Monday, June 02, 2008

Hillary Clinton in negotiations for Barack Obama to help pay off her debts

Toby Harnden, Telegraph

Negotiations are understood to be taking place between the Obama and Clinton campaigns about the Illinois senator helping to repay some of the massive debt incurred by his rival. One of Hillary Clinton’s donors said that the former First Lady’s campaign was as much as $40 million in the red.

In a conference call with major donors this afternoon, contributors were told by Harold Ickes, a senior Clinton adviser, that she was unlikely to pull out of the race until the issue of her massive debts was resolved. The New York senator has lent her own campaign at least $11.5 million.

One source close to a major donor said: “It’s not about the vice-presidency or any other position she might get. It’s about the money – in particular the Clinton family money.” The Obama campaign might have to reach deeply into its well-stocked coffers in order to secure the full support of Mrs Clinton and her husband Bill in the November general election.

But in a sign that Mr Obama believes a deal can be struck, he said at an event in Troy, Michigan: “Mrs Clinton has run an outstanding campaign and she is an outstanding public servant. And she and I will be working together in November.”

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