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You might think the Progressive Conservatives’ worst new problem is the nasty personal attack on the health minister, Sarah Hoffman, by a member of the party board, Jordan Lien.

That was bad — disgusting, in fact — but there’s something almost as damaging, if not so sensational.

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Ron Renaud has told the Progressive Conservative board he’s resigning as party treasurer.

Renaud did that volunteer job for 22 years, from back in the Klein days. He is one of Canada’s most successful party rainmakers.

The great risk of another leadership race is that hardly anybody would care.

During Renaud’s fundraising tenure, the PCs usually banked enough cash to run one election, and then another one immediately, in case of a minority government followed by a snap election.

Not any more. The PCs are said to be deep in debt. Estimates begin at $1 million but that’s probably low. The election apparently cost the party about $4 million.

So much money to win only nine ridings, lose the government, and fail even to be the official Opposition.