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Thank you for pointing out I broke the law

Talk about spin!

The Los Angeles Times reports today under the headline, Governor Welcomes Campaign Ruling:

Gov. Arnold Schwarzenegger today praised a Superior Court judge's decision that found the governor had violated state election law by using a $4.5 million bank loan to help finance his campaign in last fall's recall race.

During a lunchtime speech at the Sacramento Press Club, Schwarzenegger said he had never meant to take out the loan in the waning days of the campaign. But because he was on the campaign trail and is "hands-on when it comes to money," the campaign borrowed the money.

Schwarzenegger said it had been his intention to write a check to the campaign himself, and he said he would pay back the money himself.

Since his election, Schwarzenegger has raised money for his campaign account that would have repaid the loan. The decision by Superior Court Judge Loren E. McMaster ordered Schwarzenegger to place any such contributions in an escrow account. But Schwarzenegger left the impression that the whole matter had been a misunderstanding, and he hailed the judge for defending the state's campaign finance laws.

UPDATE: the decision can be found here.