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Romney To Drop Out Of GOP Race, AP Reports Move Follows Disappointing Super Tuesday Results

POSTED: 12:14 pm EST February 7, 2008 UPDATED: 12:38 pm EST February 7, 2008

Mitt Romney will either suspend his presidential campaign or withdraw completely from the presidential race, The Associated Press has learned.

Romney will address the Conservative Political Action Conference in Washington, D.C. on Thursday at 12:30 p.m. EST.

According to the most recent filings of campaign finance reports, Romney loaned his campaign a total of more than $35 million in 2007.

In the past quarter alone, the former Massachusetts governor pumped $18 million of his own wealth to financing his candidacy. That personal contribution helped bolster his fourth quarter fundraising total to $27 million, well beyond the $6.8 million raised by his competitor and GOP frontrunner, Sen. John McCain. The figures, it should be noted, were tallied at the end of December when the political dynamics were very much different.

Romney, the former CEO of the private equity firm Bain Capital, is said to be worth $250 million.
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