Doesn't matter anymore - perception is reality in politics, and the perception now is that Steele is clueless with money. Steele used up his goodwill by being a spokesman instead of a chairman, so now this 'nothing' story has weight.
I really don't give a crap about the RNC spending some expense dollars at some bodice ripping Hollywood "club" to wine and dine rich people who might donate, if that's what this guy was up to. But I do care that in one of the best if not the best years for Republicans since Roosevelt we have an inept fool in charge of the RNC.