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July 22, 2013

Why Christie Might Resign in Two Years

Steve Kornacki: "If the polls are right and Chris Christie wins a lopsided reelection victory this fall, it will put the New Jersey governor in position to seek the presidency in 2016... What's not getting much attention is the flip-side: the severe consequences that winning a second term as governor could have for Christie's ability to raise money for a national campaign - and the possibility that he might be compelled to resign his office during his second term if he's going to seek the White House."

"This is the result of two federal rules, one from the Municipal Securities Rulemaking Board dating back nearly two decades and the other from the SEC in 2011, that drastically curb the ability of employees of Wall Street firms to donate to governors seeking federal office and of the uniquely broad appointment powers that come with the New Jersey governorship. Put together, they have the potential to prevent Christie from raising millions of dollars from a cash-rich sector - the financial services industry - that has been particularly enthusiastic about him."


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