Trying to buy an election by self-financing a campaign is a bad investment, a study from the Center for Responsive Politics says.
Only about one in five candidates who poured a half-million dollars or more into their own campaigns came out a winner last week. If they spent more than $3.5 million, the odds got worse, to one in seven. Some spent seven figures and ended up with zip.
California Republican gubernatorial candidate Meg Whitman, who spent $141.5 million of her own money and lost to Jerry Brown.
Linda McMahon, who poured $46.6 million on a U.S. Senate seat in Connecticut. It should be noted that her opponent, Richard Blumenthal, spent $2.2 million of his own money into the race.
Carly Fiorino, who spent $5.5 million of her money in a run against U.S. Sen. Barbara Boxer, D-Calif.
Jeff Greene, who spent $24 million of his money and lost Florida’s Democratic primary for a U.S. Senate seat to Kendrick Meek, who in turn finished third in the Senate race last week.