Why House Republicans are short on cash

Auditors say the former treasurer of the National Republican Congressional Committee may have embezzled up to $1 million, said Eve Fairbanks in a New Republic blog, and it's "hard to overstate how bad" this is for the "poor, beleaguered RNC

What happened

Christopher Ward, the former treasurer of the National Republican Congressional Committee, may have embezzled up to $1 million from the party’s coffers, according to an internal audit conducted by PriceWaterhouseCoopers. The audit itself cost about $370,000, according to NRCC chairman Thomas Cole. Cole said that Ward apparently siphoned off funds from the NRCC and from various political action committees and reelection campaigns he worked on. “The exact dollar figures are currently a moving target,” the NRCC said. (Politico)

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