Clips Round-up for 10/7/11
Campaign Finance/Fair Elections
Hybrid PACs: Super PACs and traditional PACs can merge
Regular PACs, which can donate money to candidates, can now raise money like super PACs, which can't donate. They just have to have separate bank accounts for the donatable and non-donatable money.
Revising the "get money out" draft amendment
Larry Lessig was on Dylan Ratigan's show yesterday. Check it out!
Television advertising in 2012 election could top $3 billion
That sound you hear is broadcasters popping bottles of champagne: "Candidates, party committees and outside groups combined could spend as much as $3.2 billion on television advertising in the 2012 election."
Occupy Wall Street: Americans are furious and they are right to be
Public Citizen joined with OWS yesterday: "Public Citizen stands in solidarity with Occupy Wall Street. We thank the protesters in New York and at Occupy protests around the country and world for their courage, commitment, creativity and leadership."
- Bernie Sanders: http://www.boston.com/bostonglobe/editorial_opinion/blogs/the_podium/2011/10/wall_street_protests_a_good_pl.html
Buddy Roemer: The Occupy Wall Street candidate?
More on Roemer's decision to stand with the OWS folks. "Roemer's perspective may not be right over the plate for a conservative primary electorate that's more outraged about big government than big business. But at a moment when Americans' distrust of large institutions is at a historic high, there's a conspicuous space in the 2012 conversation for a candidate who takes aim at both Washington and Wall Street."
Occupy Wall Street spin-offs come to Texas demanding end to corruption
It's not just NYC and they're all angry about our pay-to-play political system. "David Larrick Smith, 40, from the Dallas suburb of Rowlett, said he was protesting 'all these billionaires who have bought our government' and said he had lost faith in President Barack Obama.
- Or as one protestors from West Virginia said: "We don't have a government that represents us. That is the message." http://www.usatoday.com/news/nation/story/2011-10-06/dc-wall-street-protest/50683204/1
Florida freshman Rep. David Rivera's future plagued by troubles
Ethically-challenged freshman David Rivera "finds himself trapped in a strange political purgatory."
US super-committee members receive donations from big industry and unions
Sunlight Foundation looked at August PAC giving to supercommittee members: "Sunlight, based on declarations of donations filed by members of Congress to the Federal Election Commission, found that 19 of the biggest political donors in the country gave $83,000 to the campaigns of 10 members since their appointment to the super-committee."
Buck McKeon makes case for defense to supercommittee, leaders
Rep. Buck McKeon is enlisting the help of defense lobbyists "on a crusade to save the Pentagon from the supercommittee."
Follow the money: 10 Republicans opposing consumer protection nominee received $31 million from Wall Street
ThinkProgress used our data yesterday in their post about the Wall Street money received by Senate banking committee members who voted against Rich Cordray to lead the Consumer Financial Protection Bureau.
- Full post: http://campaignmoney.org/blog/2011/10/06/senate-banking-committee-vote-consumer-protection-nomination
Romney aide trades on political ties
A Mitt Romney fundraiser used those connections to get investments for a company he started. Common Cause President Bob Edgar: “This setup screams what’s wrong with our broken system. This is a business deal, and Romney is the investment. If he’s elected, they will have access and influence at the White House. If he’s not the next president, they’ll still make a bundle on the deal. Either way, they will be rewarded.’’
- And more from the Times on Romney's political fundraising: http://www.nytimes.com/2011/10/07/us/politics/romney-rounds-up-backing-among-key-gop-donors.html?ref=politics
Momentum in Congress builds for approval of corporate tax holiday
"With the introduction of a new bipartisan Senate bill, lawmakers and operatives pushing for a corporate tax holiday believe their idea is gaining momentum in the halls of Congress."
Big banks own California, too: How bank lobbyists in Sacramento killed foreclosure mitigation
Lee Fang looked at the influence of bank lobbyists in California. "...this dynamic is not only at play in Washington: Banks have a disproportionate amount of power in California as well."
Olivia Cortes withdraws from recall race
The sham candidate that allies to Clean Elections foe Russell Pearce put in place to help him win his recall election withdrew from the race yesterday.