Earlier we reported how Cory Booker’s company named the 15 year old son of a CNN executive to the company’s board and then issued the young man stock options. The son immediately resigned after this information was made public by the press.
Now people are starting to ask more questions about the company which just happened to launch at the same time Cory Booker launched his Senate campaign.
(From MSNBC (Yes, MSNBC) )
It’s illegal to give a candidate $100,000 for his campaign, for example, because that much direct cash could make the candidate overly indebted to one person – or risk appearing too indebted. (The legal standard for this line is “appearance of impropriety,” the idea that politicians and institutions lose legitimacy if a conflict looks shady to the public, even if it’s only an appearance.)
Likewise, it’s illegal to give most politicians large gifts. You can buy a U.S. senator a T-shirt, if you’re not a lobbyist or foreign agent, but not a suit. (The gift cap is $50.)
But what about “giving” a candidate a large “investment” in his company?