Thursday, April 03, 2008

What's John McCain Been Complaining About?

he can pay the bills. his wife is a beer heiress with oodles of money.
cnn: The McCains' marriage has mixed business and politics from the beginning, according to an expansive review by The Associated Press of thousands of pages of campaign, personal finance, real estate and property records nationwide. The paperwork chronicles the McCains' ascent from Arizona newlyweds to political power couple on the national stage.

As heiress to her father's stake in Hensley & Co. of Phoenix, Cindy McCain is an executive whose worth may exceed $100 million. Her beer earnings have afforded the GOP presidential nominee a wealthy lifestyle with a private jet and vacation homes at his disposal, and her connections helped him launch his political career -- even if the millions remain in her name alone. Yet the arm's-length distance between McCain and his wife's assets also has helped shield him from conflict-of-interest problems.

Within a few years of marrying Cindy Hensley, the daughter of a multimillionaire Anheuser-Busch distributor, John McCain won his first election. He was new to Arizona politics and fundraising in the 1982 House race, and his campaign quickly fell into debt. Personal money -- tens of thousands of dollars in loans to his campaign from McCain bank accounts -- helped him survive.

Anheuser-Busch's political action committee was among McCain's earliest donors. Cindy McCain's father, James Hensley, and other Hensley & Co. executives gave so much the Federal Election Commission ordered McCain to give some of it back. McCain's campaign used Hensley office equipment such as computers and copiers, and Cindy McCain personally paid some of the campaign's bills.