Why Did McCain Resign From The Reform Institute?

Michelle Malkin has the low down on McCain's indisputable ties to the Reform Institute. Ironic that Moveon.org funding Soros supported the group that helped McCain champion Campaign Finance Reform, which Soros took advantage of almost immediately after passage. But why did McCain resign as Chair in 2005?

Two years ago, the Associated Press disclosed that CASH Holdings, a Cablevision Systems subsidiary, had contributed $200,000 to the Reform Institute. Two McCain political aides, who also were involved in the Reform Institute, solicited the donations, which were given in $100,000 installments in 2003 and 2004.

It at least appears to be the case that McCain may have resigned due to conflicts of interest given his role as Chairman of the Commerce Committee. Didn't he just brag on that in last night's debate? Is this what the New York Times may be holding until the general election, assuming the candidate they endorsed is in the race? A bunch of lobbyists dropped cash in the Reform Institute, too.

Two years ago, the Associated Press disclosed that CASH Holdings, a Cablevision Systems subsidiary, had contributed $200,000 to the Reform Institute. Two McCain political aides, who also were involved in the Reform Institute, solicited the donations, which were given in $100,000 installments in 2003 and 2004.

McCain, long a proponent of a la carte pricing, urged federal regulators in May 2004 to support the idea, quoting Dolan's testimony before the Commerce Committee in May 2003. McCain denied there was any conflict of interest. Federal campaign records examined by U.S. News show that Cablevision Systems' pac gave $10,000 to McCain's Senate re-election committee in February 2003—just a month before the senator urged other cable companies, in writing, to follow Cablevision's lead on a la carte pricing. Shortly after the AP story, McCain stepped down as chairman of the Reform Institute's advisory board in March 2005.

As for the Reform Institute, a lobbyist who knows McCain well says bluntly: "The Reform Institute is McCain's Achilles heel." Engaging in political activity would have violated the institute's tax-exempt status, but McCain, campaign aides, and institute officials all deny that the organization has played any role in promoting his presidential candidacy.

Comments

[Cory]

Mitt Romney just DESTROYED John McCain!!!

http://www.youtube.com/watch?v=uGrWt-XICHc&eurl=http://hughhewitt.townhall.com/blog

[Fred Beloit]

You know, Cory, I think a similar video could be made about Mitt when he governed Mass. I'm not big on McCain for pres, nor Mitt either.