[GPSCC-chat] Fw: Fwd: "Follow the Money!"

[Caroline Yacoub]

----- Forwarded Message ----

Sent: Fri, February 24, 2012 4:14:53 PM
Subject: Fwd: "Follow the Money!"





The GOP's Big Investors
>>Robert Reich
>>Posted: 02/22/2012 8:36 am
>>http://www.huffingtonpost.com/robert-reich/big-funders-gop_b_1293243.html?ref=politics
>>
>>
>>Have you heard of William Dore, Foster Friess, Sheldon Adelson, Harold Simmons, 
>>Peter Thiel, or Bruce Kovner? If not, let me introduce them to you. They're 
>>running for the Republican nomination for president.
>>I know, I know. You think Rick Santorum, Newt Gingrich, Ron Paul, and Mitt 
>>Romney are running. They are -- but only because the people listed in the first 
>>paragraph have given them huge sums of money to do so. In a sense, Santorum, 
>>Gingrich, Paul, and Romney are the fronts. Dore et al. are the real investors.
>>According to January's Federal Election Commission report, William Dore and 
>>Foster Friess supplied more than three-fourths of the $2.1 million raked in by 
>>Rick Santorum's super PAC in January. Dore, president of the Dore Energy 
>>Corporation in Lake Charles, Louisiana, gave $1 million; Freis, a fund manager 
>>based in Jackson Hole, Wyoming, gave $669,000 (he had given the Santorum super 
>>PAC $331,000 last year, bringing Freis's total to $1 million).
>>Sheldon Adelson and his wife Miriam provided $10 million of the $11 million that 
>>went into Gingrich's super PAC in January. Adelson is chairman of the Las Vegas 
>>Sands Corporation. Texas billionaire Harold Simmons donated $500,000.
>>Peter Thiel, co-founder of PayPal, provided $1.7 million of the $2.4 million 
>>raised by Ron Paul's super PAC in January.
>>Mitt Romney's super PAC raised $6.6 million last month -- almost all from just 
>>forty donors. Bruce Kovner, co-founder of the New York-based hedge fund Caxton 
>>Associates, gave $500,000, as did two others. David Tepper of Appaloosa 
>>Management gave $375,000. J.W. Marriott and Richard Marriott gave a total of 
>>$500,000. Julian Robertson, co-founder of hedge fund Tiger Management, gave 
>>$250,0000. Hewlett-Packard CEO Meg Whitman gave $100,000.
>>Bottom line: Whoever emerges as the GOP standard-bearer will be deeply indebted 
>>to a handful of people, each of whom will expect a good return on their 
>>investment.
>>And this is just the beginning. We haven't even come to the general election.
>>Non-profit political fronts like "Crossroads GPS," founded by Republican 
>>political guru Karl Rove, are already gathering hundreds of millions of dollars 
>>from big corporations and a few wealthy individuals like billionaire oil and 
>>petrochemical moguls David and Charles Koch. The public will never know who or 
>>what corporation gave what because, under IRS regulations, such non-profit 
>>"social welfare organizations" aren't required to disclose the names of those 
>>who contributed to them.
>>Before 2010, federal campaign law and Federal Election Commission regulations 
>>limited to $5,000 per year the amount an individual could give to a PAC making 
>>independent expenditures in federal elections. This individual contribution 
>>limit that was declared unconstitutional by the District of Columbia Court of 
>>Appeals in a case based on the Supreme Court's grotesque decision at the start 
>>of 2010, Citizens United vs. Federal Election Commission.
>>Now, the limits are gone. And this comes precisely at a time when an almost 
>>unprecedented share of the nation's income and wealth is accumulating at the 
>>top.
>>Never before in the history of our Republic have so few spent so much to 
>>influence the votes of so many.
>>Robert Reich is the author of Aftershock: The Next Economy and America's Future, 
>>now in bookstores. This post originally appeared at RobertReich.org.
>
>

Bonnie Klett
bonnieklett at sbcglobal.net
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