Robert Wexler's "curious" $150,000 campaign bet
From former Miami Herald reporter Dan Christensen's new Broward Bulldog comes a story about outgoing Rep. Robert Wexler's interesting campaign finance reports.
"Most members of Congress keep their campaign money in the bank or in stocks and bonds," Christensen writes. "Wexler, who leaves office Sunday, used campaign funds to place a big bet on real estate in March 2004, Palm Beach records show.
"Until the mid-1990s, candidates for federal office were required to keep campaign funds in a federally insured bank account. But in a series of advisory opinions, the Federal Election Commission gradually changed the rules to allow campaigns to invest surplus funds as candidates see fit.
" 'But I don’t recall anyone investing in real estate before with campaign funds,” said a Washington election law attorney who asked not to be named.