This analysis [h/t PJmedia, Instapundit] says that questionable donations may account for as much as $63 million of Obama’s projected $670 million campaign fund. Half of those may have come from illegal foreign donations.
In an earlier post on swarm corruption, I pointed out that at some point illegal contributions would invalidate an election. If the numbers above hold up, that means that nearly 9%-10% of Obama’s contributions came from illegal sources. That will be enough to give some people grounds to question his legitimacy.
Of course the only way of handling this would be to impeach Obama, and with Democrats controlling the House and the Senate that will not happen. So I imagine that no matter how large in scale the corruption turns out to be, he will pay no price for it beyond “refunding” token amounts of money.
Like a lot of the Left’s clever tricks, this will turn around and bite them on the ass. If they establish a precedent of ignoring campaign finance laws, the Republicans will follow suit (out of a need to survive if nothing else). So Obama’s little trick could end up destroying any oversight of campaign donations.
I’d like to think that we’d end up with a sunshine system in which candidates could not spend any money from a contribution until they posted the identity of the contributor on line. However, I think it more likely we will go back to a “midnight” system in which everyone ignores reporting laws and secret contributors run the game.