New Jersey Governor Chris Christie’s chances to be the 2012 Republican vice-presidential nominee were hampered by a U.S. regulation that could have an even bigger impact on the next race for the White House.
The three-year-old rule from the Securities and Exchange Commission effectively bars governors and other state officials from raising money from Wall Street for state or federal elections. Having Christie on the ticket would have complicated Mitt Romney’s presidential campaign, which took in more money from securities and investment firms than any other industry.
Now, with governors including Christie, Scott Walker of Wisconsin and Bobby Jindal of Louisiana contemplating a White House run in 2016, two state Republican committees have filed a lawsuit to overturn the regulation.
Read the complaint.