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Hillary's Cash Crunch?

Newsweek's Romano thinks Hillary may have raised only $7 million in primary--as opposed to general-election--funds last month, and concludes (reasonably, I think) that any primary endgame may have less to do with a superdelegate swarm or a Dean-Pelosi-Reid-Gore poobah intervention than possible bankruptcy:

As the clock ticks down, Clinton will have fewer chances to gain delegates and votes, and Obama will appear more and more inevitable. Wins in Indiana and North Carolina on May 6--hardly a sure thing, but possible--would only accelerate that process. All of which is to say that if Obama "looks like the nominee" at some point before the convention, Clinton's financial intake may flatline. In that case, she probably won't have the rainy-day money necessary to keep fighting (unless it's more of her own). Meaning that it won't matter what Bill has to say. The bank vault will have already spoken.

Update: The campaign says "almost all" of last month's money is primary-eligible. 

--Michael Crowley