June 3rd is the deadline for former Liberal leadership candidates to pay off their outstanding leadership debts. Most former Liberal leadership candidates have borrowed large amounts of money from well-heeled Liberal insiders, only to find themselves unable to pay these loans back.
While many senior Liberals grapple with massive debt burdens, there is one former candidate, whose debt looms above the rest.
As of the last publicly required reporting deadline, Stéphane Dion still had more than $800,000 in unpaid leadership debts. To put this into context, even if the entire Liberal Party had dedicated every single cent raised in the first three months of 2008 to Mr. Dion’s debts, he would only barely be able to pay off what he owes.
Next week the bill collector will be knocking on Mr. Dion’s door. Mr. Dion had his chance to make his payments. He has failed. As of June 3rd, his campaign will be in violation of Canada’s election laws.
Mr. Dion’s only hope is to seek an extension on this deadline through a preferential ruling from Elections Canada. Will Elections Canada arbitrarily change the rules to help Mr. Dion? Or will Stéphane Dion finally be held accountable for his weak leadership and lack of priorities?
Canadians will find out next week.
Stéphane Dion. Not a leader. Not worth the risk.