Well, if not legal, surely ethical. The Politico has an interesting tid-bit that might especially interest Libertarians, though not only them. McCain has a privacy policy in place for its fund raisers. So, is it ethical to use that list as collateral? Wouldn't a bank have looked into that, or did he get a sweet heart deal that didn't really require serious collateral?
McCain loan could violate donor privacy
When John McCain’s presidential campaign all but went broke, it borrowed money from its bank using its fundraising list as collateral.
Problem: McCain’s own privacy policy promises donors he won’t sell their information.
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