What a racket

Matthew Hoy
By Matthew Hoy on December 3, 2003

The Wall Street Journal's John Fund takes a look at the public financing of presidential elections that shells out nearly $1 million to Lyndon Larouche. If that isn't bad enough, he also notes a quirk about the public financing of mayoral elections in New York City.

New York's financing system has already produced a windfall for Abraham Wasserman's family and friends. Mr. Wasserman ran for a Brooklyn City Council seat last month on the Conservative Party line and finished last with 368 votes. The New York Post reports that he raised some $16,000 from friends and relatives whom he listed as "campaign consultants." According to the Post, "Wasserman pocketed a handsome $62,000 gift, courtesy of the city taxpayer"--some of which he used to pay the "consultants" who had donated money in the first place.

Talk about an easy way to make some quick cash. If this spreads, you may see me making a run for the county board of supervisors.

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