Morning must-read: Romney campaign borrowed $20 million during primary-to-general transition

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Limited from still being in the Republican presidential primary by law, the Romney campaign borrowed $20 million in the time leading up to the convention, National Review reports.

We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account,” a senior Romney aide told National Review Online.

The Romney campaign borrowed the money in August from the Bank of Georgetown, just as many of its primary dollars were drying up.

“We took advantage of the law as it exists to secure this line of credit,” the aide says. “We were able to stay competitive in a period when we were looking at a tilted playing field.”

Read National Review’s full report here.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.