At Volokh, Ilya Somin writes about the opportunity cost of donating to the Ron Paul campaign. That is, given how things have turned out, think of what better use these dollars could have been put to in the hands of a group like the Institute for Justice.
A more troubling cost is how the remaining money may yet be spent. From my understanding of the law, Paul could donate leftover millions to a non-profit organization of his choosing. Yes, I believe this includes the Ludwig von Mises Institute, the group that’s been vocally supporting Paul and that’s currently headed by the guy widely thought to have been his frequent ghost writer when the offensive newsletters were published.
11 CFR 113.2(b) provides [pdf]: “In addition to defraying expenses in connection with a campaign for federal office, funds in a campaign account . . . [m]ay be contributed to any organization described in section 170(c) of Title 26, of the United States Code . . . .” [meaning organizations who may receive tax-deductible contributions.]
I’m not a lawyer, so I may be incorrect. However this seems like a direct application of the law. For those of us who donated to the campaign, this would not be a thrilling outcome.