Thursday, December 31, 2020
Tuesday, December 29, 2020
TheHill.com: Warren reintroduces bill to bar lawmakers from trading stocks
Warren reintroduces bill to bar lawmakers from trading stocks. The reintroduction of the bill by Warren and Rep. Pramila Jayapal (D-Wash.) coincides with scrutiny Georgia Sens. Kelly Loeffler (R) and David Perdue (R) are facing over their own stock trading during the pandemic.
Marty Wulfe
Tuesday, December 22, 2020
Trump can use funds he raised to "stop the steal" to enrich himself
https://www.democracynow.org/2020/12/22/trump_fundraising_pac
Because FEC is so weak, money raised by a PAC can be spent through firms controlled by the PAC founders or their relatives, thus enriching the PAC insiders rather than furthering the political cause for which the donors gave. Both small and large donors n be targeted. And any politician or political operative can run this type of scam – and they do. We have pointed out “liberal” ones in the past like ‘End Citizens United.’
Charlie Cooper and Tina Coplan
Monday, December 21, 2020
Toomey's language could benefit big banks or pave the way for lucrative post-Senate employment
Without endorsing or condemning the Federal Reserve lending programs that Sen. Toomey wishes to limit, I post this because it connects large-scale contributions with specific legislative action by a senator and because there may be a motive to prepared for “retirement” in a cushy Wall Street job.
Charlie Cooper
Monday, December 14, 2020
Health care billionaire spends to influence anti-gerrymandering, open primary, and other ballot initiatives
https://khn.org/news/this-health-care-magnate-wants-to-fix-democracy-starting-in-colorado/
Charlie Cooper with thanks to Steven Cooper
Sunday, December 13, 2020
Small donor funding is rising for both parties, but Dems have raised more
https://www.opensecrets.org/news/2020/10/small-donors-give-big-2020-thanks-to-technology/
The trend has impacted both Presidential and Congressional elections.
Charlie Cooper
Biden outraised Trump from both large and small donors
https://www.nytimes.com/2020/10/20/us/politics/joe-biden-donors.html
Biden campaign tries to shield names of biggest bundlers.
Charlie Cooper
Saturday, December 12, 2020
A new study finds even more influence by wealthy elites on U.S. policy-making
Research published this year by McGuire and Delahunt to sharpen the focus and deepen understanding of how wealthy elites and business interest groups control policy by “the transfer of large amounts of money to policy makers from the wealthiest sources focused intensely on particular policies.” Their work uses artificial intelligence techniques to build on that of Gilens and Page who used more standard statistical methods. The author claims that Biden’s recent presidential campaign was funded by the same elite sources. A summary of McGuire’s and Hunt’s October 2020 paper is here.
Charlie Cooper
Thursday, December 10, 2020
9 of the 10 most expensive U.S. Senate races in history occurred in 2020
Republicans won 8 of those 9 despite being outspent by $167 million. (The bigger spender historically has usually won.)
Charlie Cooper
Wednesday, December 9, 2020
Tuesday, December 8, 2020
No congressional seats in Texas flipped, but campaign cash flowed into key races like it was a battleground
WASHINGTON — More than $110 million in campaign cash was spent in Texas' 12 most contested U.S. House races this election cycle, underscoring the reality that donors — if not necessarily voters — considered the state to be a bona fide battleground.
That staggering sum, revealed late last week in new campaign finance reports, came on top of the nearly $63 million spent in this year's U.S. Senate race, the state's other hot federal battle.
All of that money didn't end up mattering much. Not a single congressional seat flipped, even after Democrats targeted 10 pick-up opportunities in the House, along with Sen. John Cornyn's seat in the Senate, and the GOP sought to win back two seats in the House.
But the tallies still represented a significant shift, signaling that there's enough Democratic enthusiasm in the longstanding GOP state to ensure pricey elections for years to come.
Consider that in Texas' 12 most active House races, fundraising and spending increased fourfold from 2016. Fourteen candidates brought in more than $3 million this cycle, compared to one four years ago. Democrats in those districts together raised about $53 million, while Republicans posted $58 million.
That relative partisan parity is stunning in and of itself.
In 2016, Democrats in those 12 districts collectively brought in a piddly $1.7 million, leaving them $17.3 million short of their Republican counterparts. So while fundraising has increased substantially all around, the trend is most pronounced on the Democratic side.
Here are a few other takeaways from the most recent reports filed with the Federal Election Commission:
Republicans spent like they had fights on their hands
The GOP was confident heading into Election Day, dismissing the idea that a blue wave would wash over Texas. Their bravado was justified. Not only did they hold every congressional seat targeted by the Democrats, their candidates generally won by larger margins than two years ago.
But they didn't take anything for granted, campaign finance data suggest.
Republicans in the dozen most-competitive House races collectively spent more than $13 million in the most recent reporting period. (That time frame runs from mid-October through Nov. 23, but the vast majority of the funds in those races were spent before the Nov. 3 election.)
The same time period four years ago? Conservative candidates in those districts collectively spent about $1.9 million.
Dan Crenshaw is a fundraising juggernaut
Houston Rep. Dan Crenshaw, a freshman Republican, is a truly elite fundraiser.
The retired Navy SEAL brought in nearly $19 million through late November. That's Scrooge McDuck kind of cash, giving him status that typically only comes with being part of House leadership. Think House Speaker Nancy Pelosi or House Minority Leader Kevin McCarthy.
Case in point: The $2.7 million that Crenshaw raised in the most recent period is more than some notable Texas candidates raised over this entire election cycle.
Crenshaw's name has already been floated as a potential gubernatorial candidate, perhaps sooner rather than later. If the Republican can raise this kind of moolah amid more stringent federal guidelines, it's not hard to imagine him raking in enormous sums under unrestricted state rules.
MJ Hegar out-raised Cornyn
Cornyn early on braced for a tough reelection challenge, warning his conservative supporters that they couldn't be complacent. And perhaps with good reason.
While the Republican defeated Democrat MJ Hegar, an Air Force veteran, by a comfortable 9.6 percentage points, Hegar ended up raising more money than Cornyn over the two-year cycle to date: $29.6 million to $28.4 million.
Those totals still put the duo behind several other notable Senate clashes across the U.S. In South Carolina, for instance, Republican Sen. Lindsey Graham brought in some $109 million to defeat Democrat Jaime Harrison, who broke records by raising more than $132 million.
Both Cornyn and Hegar, it should be noted, benefited from outside spending.
Gina Ortiz Jones spent the most per vote — and lost
Democrat Gina Ortiz Jones, an Air Force veteran, in 2018 lost to Rep. Will Hurd, R-San Antonio, by less than 1,000 votes in a battle to represent a sweeping border district. So she tried again this year, raising more than $7 million for a race most pundits expected her to win.
Jones ended up losing by an even bigger margin to Republican Tony Gonzales, a Navy veteran.
Her defeat this year also came with the inglorious honor of having spent the most money per vote – at least among Texas hottest congressional races – to then go on and lose. The total in Jones' case ended up being about $52 per vote.
Others in the running were Democrat Wendy Davis – who spent about $50 per vote to lose to Rep. Chip Roy, R-Austin – and Republican Wesley Hunt, who spent about $49 per vote to lose to Rep. Lizzie Fletcher, D-Houston.
Ron Wright ran the leanest winning campaign
While money poured into congressional races across Texas, the race between Rep. Ron Wright, R-Arlington, and Democrat Stephen Daniel didn't receive quite the same attention. Neither candidate brought in more than $1 million in the race, which Wright won by 8.8 points.
But that outcome meant that Wright ran the most efficient winning campaign, spending less than $5 per vote.
The closest contender to Wright was Fort Bend County Sheriff Troy Nehls, a Republican who defeated Democrat Sri Preston Kulkarni for a seat being vacated by Rep. Pete Olson, R-Sugar Land. Nehls ended up spending about $8 per vote.
Renaud D. Brown, M.M.
Uber, Lyft, et. al. spent $200 million to buy a law
https://www.curbed.com/2020/11/california-uber-lyft-prop-22.html
Uber, Lyft, DoorDash, and others used their apps and public media to win a California ballot question (58% in favor) enacting a law denying rights to their employees. [I’ve heard that corporate Democrats championed this law.] Denies minimum wage, unemployment, overtime protection, etc.
In this case, the voters overturned a pro-labor law enacted by the state legislature. We’ve seen pro-democracy ballot questions overturned or undermined cavalierly by state legislatures in South Dakota and Florida. Let’s see whether the California legislature will act.
Ballot questions are a double-edged sword. While they seem to offer citizens a way to overcome legislatures that are controlled by corporate contributions, SCOTUS has ruled that it is unconstitutional to limit spending on ballot questions, which tilts the scales very significantly. We should consider adding this issue to our hearing presentation.
Charlie Cooper
Monday, December 7, 2020
Biden's campaign broke records in funding from multiple sources
Individuals, PACs, dark money.
Charlie Cooper
Saturday, December 5, 2020
Pres. Trump breaks pledge to ban foreign lobbyists from government
Friday, December 4, 2020
Cracks Emerge in No Corporate PAC Money Movement
https://readsludge.com/2020/12/03/cracks-emerge-in-no-corporate-pac-money-movement/
Rep. Elaine Luria (D-Va.) is likely to be the first to abandon the campaign finance pledge, after promising voters before she was elected that “this kind of pay-to-play governance is unacceptable.”
Marty Wulfe
Thursday, December 3, 2020
Greg Palast and Georgia voter group sue to have voters restored to list of those registered for Jan 5 election
The groups claim that 195,000 Georgians who did not move have been erroneously removed from voter roles and are asking a federal district court to order them to be restored. Georgia election official has denied the charges.
Charlie Cooper
1 Percent of P.P.P. Borrowers Got Over One-Quarter of the Loan Money
https://www.nytimes.com/2020/12/02/business/paycheck-protection-program-coronavirus.html
A federal judge has forced the first in-depth account of PPP spending. Fraud investigations are underway
Angad Singh
Sen. Loeffler oversees agencies that regulate her husband's multi-billion $ financial trading businesses
Her husband contributed $10 million via a PAC to help elect her, and she spent $23 of her own funds.
Charlie Cooper
Wednesday, December 2, 2020
2,596 Trades in One Term: Inside Senator Perdue's Stock Portfolio
The Georgia Republican’s stock trades have far outpaced those of his Senate colleagues and have included a range of companies within his Senate committees’ oversight, an analysis shows.
Marty Wulfe
Sen. David Perdue had 2,600 stock trades during his 6-year term
More than the next 5 in Congress combined.
Charlie Cooper
Candidate and outside spending are highly correlated with which side wins House and Senate races
https://www.opensecrets.org/news/2020/11/top-spenders-won-88-percent-of-2020-races/
Good overview of 2020 federal election.
Charlie Cooper
Monday, November 30, 2020
Spin Cycle: Presidential campaigns can launder money because of Supreme Court decision
Sheldon Adelson can give Pres. Trump only $2,700 per year, but he and his wife gave almost $1.2 million to Trump Victory Fund, which distributed it to over 40 state Republican parties. [Note that the Adelsons contributged over $172 million in total for this federal election cycle!] The parties immediately transferred it to the Republican National Committee. Democrats do the same thing on the same scale. All this is made possible by the April 2014 SCOTUS decision McCutcheon v. FEC.
Charlie Cooper
Federal Reserve studying the possibility of opening accounts for everyone
The St. Louis Federal Reserve Bank has studied how to open an account for every person in the nation. Relief during crises could be delivered directly to households and businesses as is now done with banks.
Charlie Cooper and Angad Singh
Ballot measures can mislead in judging voters’ minds | HeraldNet.com
https://www.heraldnet.com/opinion/comment-ballot-measures-can-mislead-in-judging-voters-minds/
Contributions to ballot issue committees can't be limited, per Supreme Court decision. Interesting that the decision was based on the constitutional right of free association, not free speech.
Contributed by Sheila Ruth
Sunday, November 29, 2020
nuanced view of role of money in politics
https://www.facebook.com/HillTVLive/videos/381364359771274/
Money matters more in primaries and down-ballot races. The money race is less likely to determine races with lots of media attention. But the money race benefits a consultant class that runs campaigns and that holds sway in the mainstream Democratic Party.
Thanks to Bill Harvey for this one.
Tuesday, November 17, 2020
Gory details: Pelosi's fundraising prowess secures her re-election as Speaker despite electoral losses
Monday, November 16, 2020
Charles Koch tries to make nice with Biden while sending huge money to Georgia GOP candidates
Thursday, November 12, 2020
Open Secrets: Trump seems to be raising money for 2024 presidential run
He states he is raising money “to fighting for a recount” and other 2020 election-related matters, but he paid off campaign debts and is now funneling funds to a “leadership PAC.”
Charlie Cooper
Amidst pandemic retail is consolidating fast
https://prospect.org/economy/the-end-of-retail/
A retail landscape monopolized by Amazon will mean worse labor standards, fewer options for consumers, and the closure of shopping malls in some communities, much like what happened during the rise of discounters decades ago.
Charlie Cooper
Wednesday, November 11, 2020
Citigroup fined $400 million, but charges not made public
Has Citigroup done something improper regarding the tens of billions of dollars it has spent buying back its own stock? Until March 31, 2015, Citigroup was spending hundreds of millions of dollars a quarter to buy back its stock. But beginning with the quarter ending June 30, 2015, it started to spend billions of dollars a quarter. And, as we headlined on July 24, Citigroup Has Been Paying Out More than It Earned for Years; Now It Has $102.5 Billion in Debt Maturing within Three Years.
Charlie Cooper
Wall Street firms big donors to Biden
https://wallstreetonparade.com/2020/11/big-wall-street-donors-to-biden-will-maneuver-for-key-posts/
“Finance, Insurance & Real Estate” donated a stunning $201,675,240 to Biden’s campaign and PACs supporting him. Add to that the category of “Lawyers and Lobbyists,” which donated $52,378,087, and you’re looking at a cool quarter of a billion dollars.
Charlie Cooper
Thursday, November 5, 2020
Oregonian ballot question passes to regulate political money
Wednesday, November 4, 2020
Senate Democrats raised record cash, but much went to losing candidates • OpenSecrets
Saturday, October 31, 2020
Labor unions mull general strike if Trump tries to disrupt election results
“Michael Podhorzer, a senior Trumka adviser, said: ‘We believe democracy is stronger than Trump. We are not looking for a fight. We want the election results to be respected. We’re getting ready if they’re not respected because of what he said. We believe this is a country where what voters say matters.’”
Charlie Cooper from Marty Wulfe
Thursday, October 29, 2020
Re: 3 Maryland couples spent more than hundreds of thousands of Marylanders
--
"Donors giving over $100,000 in an election cycle are part of an elite group, representing less than 0.00001% of the United States population, but accounting for over one-fifth of all contributions to federal elections, according to figures released by the Center for Responsive Politics in late September."
Charlie Coope
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3 Maryland couples spent more than hundreds of thousands of Marylanders
“Donors giving over $100,000 in an election cycle are part of an elite group, representing less than 0.00001% of the United States population, but accounting for over one-fifth of all contributions to federal elections, according to figures released by the Center for Responsive Politics in late September.”
Charlie Coope
Fossil fuel company spends dark money and seeks judicial cloak
A federal bankruptcy court in Delaware is forbidding the release of information about who benefitted from millions of dollars of political spending by Extraction Oil and Gas. The company says release would enable its competitors to buy favor with politicians that it has developed relationships with.
“First, the case proves what a complete sham Citizens United really is. The Supreme Court pretended that corporate independent expenditures on politics don’t corrupt anything, and now Extraction openly admits that political expenditures are used to advance business interests.
“Second, dark money may have just gotten a lot darker. Delaware is the home to thousands of corporations, and now its federal bankruptcy court has ruled that companies can keep their dark money expenditures on politics secret in bankruptcy proceedings.
“In a sense, it is a special carveout for records that document influence buying: While companies’ day-to-day financial records remain available for public scrutiny in bankruptcy, now there’s a ruling that allows those companies to hide exactly which politicians and political groups they are bankrolling.”
Charlie Cooper
Wednesday, October 28, 2020
FW: Press Release: UPDATED—The 2020 election is now expected to near $14 billion in total spending
From: OpenSecrets <info@crp.org>
Sent: Wednesday, October 28, 2020 2:05 PM
To: mwulfe@yahoo.com
Subject: Press Release: UPDATED—The 2020 election is now expected to near $14 billion in total spending
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Saturday, October 24, 2020
Wednesday, October 21, 2020
Wednesday, October 14, 2020
Fwd: NBC News: Opinion | Amy Coney Barrett rose from corporations' crusade for power over the Supreme Court
From: Susan Ogden
Opinion | Amy Coney Barrett rose from corporations' crusade for power over the Supreme Court
Companies once worried the courts might uphold the protections regular Americans achieved via representational democracy. They're less worried today.
Read in NBC News: https://apple.news/AMC-VGmBiStq1foluAZYFhw
Shared from Apple News
Videos leaked of high-level conservatives' election fears and tactics
Tuesday, October 13, 2020
$141 million spent in outside money in NC Senate race - SO FAR!
Courts view GOP fraud claims skeptically as Democrats score key legal victories over mail voting - The Washington Post
A good overview of Supreme Court rulings that paved the way for the political corruption era
Thursday, October 8, 2020
Wednesday, October 7, 2020
How SCOTUS gutted the Voting Rights Act in Shelby Co. v. Holder
North Carolina, Georgia, and Texas are called the worst offenders.
Charlie Cooper
Tuesday, October 6, 2020
Voter fraud myth persists despite failure to prove claims
Information security experts catalog vulnerabilities of the nation's decentralized election systems
Submission of votes by fax or e-mail is a particularly vulnerability, and it may not jeopardize only the votes cast by those methods, but may open up election networks to general invasion.
Charlie Cooper
Friday, October 2, 2020
2020 Federal election will far surpass all other cycles for spending
Thursday, October 1, 2020
Federal Reserve bailout benefits wealthy, including failing fossil fuel firms
- New research shows that analysts overestimated the effectiveness of the Fed bond-buying programs on boosting the economy because those types of findings lead to promotions!
- Fossil fuel companies have sold $99 billion in fonds to the Federal Reserve (or to its special purpose vehicles). They could probably not have done that if the pandemic hadn’t occurred.
Charlie Cooper
Billionaire Steve Schwarzman spends $25 million to maintain GOP power
Schwarzman heads financial giant Blackrock, which has received hundreds of millions of dollars of tax benefits already from the Trump tax cut.
Charlie Cooper
Tuesday, September 29, 2020
Fwd: We Still Don’t Know Who Is Paying For Trump’s SCOTUS Seats
Save our democracy - get big money out of our elections
Sent: Tuesday, September 29, 2020 6:49:19 AM
To: mwulfe2020@gmail.com <mwulfe2020@gmail.com>
Subject: We Still Don't Know Who Is Paying For Trump's SCOTUS Seats
We Still Don't Know Who Is Paying For Trump's SCOTUS SeatsThe conservative front group backing Amy Coney Barrett already spent $27 million to remake the Supreme Court. We have no idea where the money came from.This story was written by Andrew Perez. Having already spent tens of millions of dollars to install two of President Donald Trump's justices on the Supreme Court, a conservative dark money group now says it plans to spend millions more to confirm Trump nominee Amy Coney Barrett, who has issued rulings favorable to corporate interests. The money raised by the Judicial Crisis Network (JCN) comes from untraceable sources — and Barrett previously rebuffed a Democratic senator's request that she ask outside groups to refrain from spending big money to try to influence a congressional review of her appellate court nomination. JCN previously spent as much as $27 million to block President Barack Obama's 2016 Supreme Court pick and place conservative jurists Neil Gorsuch and Brett Kavanaugh on the high court. As The Daily Poster previously reported, JCN received $15.9 million from a single anonymous donor between July 2018 and June 2019, the tax period covering the Kavanaugh fight. Now, JCN says it will spend at least $10 million supporting Barrett's confirmation. That's in addition to astroturf lobbying campaigns by the Koch Network's Americans for Prosperity and the U.S. Chamber of Commerce. The Chamber plans to encourage its members to "elevate Barrett's platform and explain why her confirmation is aligned with the business community's priorities," according to Axios. JCN is the darkest of dark money groups. While nonprofits aren't required to publicly reveal their donors, some contributor names generally drip out over time — usually in tax returns filed by other nonprofits, or in voluntary political contribution disclosures by big corporations. That hasn't happened with JCN. Despite its massive spending, the group's funding sources remain a total mystery. JCN's doesn't show up in the corporate contribution database compiled by the Center for Political Accountability. A thorough review of Internal Revenue Service nonprofit data by The Daily Poster did not turn up any donations to JCN, either. Barrett Silent On Dark Money Spending JCN is closely tied to Trump's top judicial adviser Leonard Leo, a longtime executive at the Federalist Society, the conservative lawyers network based in Washington, D.C. The Daily Beast reported in 2018 that Leo "effectively controls the Judicial Crisis Network." Since 2017, the group has reported paying more than $1.4 million to a Virginia LLC linked to Leo. Shortly after Justice Ruth Bader Ginsburg's death, JCN announced it was launching a $2.2 million ad campaign calling on the Senate to "follow precedent" and "confirm the nominee," who hadn't been named yet. On Saturday, JCN said it was spending $3 million on ads promoting Trump's pick, Amy Coney Barrett, and ultimately "expects to spend at least $10 million on the effort." JCN's first TV buy supporting Barrett is a slick candidate-style ad that makes it look like she's running for office. In 2017, after Barrett was nominated by Trump to serve on the Seventh Circuit Court of Appeals, Sen. Dick Durbin, D-Ill., asked her: "Do you want outside groups or special interests to make undisclosed donations to front organizations like the Judicial Crisis Network in support of your nomination?" Barrett responded: "I am unaware of any outside groups or special interests having made donations on my behalf. I have not and will not solicit donations from anyone. Indeed, doing so would be a violation of my ethical responsibilities as a judicial nominee." Pressed about whether she would "discourage donors from making such undisclosed donations" or "call for the donors to make their donations public," Barrett referred Durbin to her previous answer. In 2018, liberals formed their own dark money group, Demand Justice, to be Democrats' counterweight to JCN. Although the group has pledged to spend $10 million to block Barrett's nomination, its influence doesn't compare to the right-wing courts network. JCN has the benefit of working with a party and conservative outside groups that are firmly committed to stacking the courts by all means necessary, while some Democratic lawmakers have signaled preemptive surrender and others appear more interested in demonstrating their respect for apolitical norms. Durbin, for example, said on Saturday that Senate Democrats won't be able to prevent Barrett's confirmation: "We can slow it down perhaps a matter of hours — maybe days at the most — but we can't stop the outcome." "Special Interests Scheming"For years, much of the money raised by JCN was funneled through a dark money group called the Wellspring Committee. The group is basically another black hole — its donors are completely unknown, too. The group shut down in late 2018 and only sent $35,000 to JCN that year. Although JCN's funding sources remain secret, it's clear that the group deals in huge dollars. The group brought in six anonymous seven-figure donations between mid-2018 and 2019, including the $15.9 million gift. In 2016, the Wellspring Committee received nearly 90 percent of its revenue from a single $28.5 million donation, and passed $23.5 million to JCN. All of these massive, anonymous donations have been used to help install deeply conservative judges on the high court for the rest of their lifetimes. Much of the media focus on the court battles has revolved around the potential of future abortion restrictions, for good reason. But the John Roberts-led Supreme Court has been churning out victory after victory for corporate interests since 2006, siding with the U.S. Chamber, the nation's top business lobby, in 70 percent of cases. Corporate influence over the court will likely only become more pronounced with a 6-3 conservative majority. "A baked-in bias within the federal judiciary for special interests scheming behind dark money front groups is a rotten situation," Sen. Sheldon Whitehouse, D-R.I., tweeted on Monday. "It inflicts long-term harm on our judiciary." This newsletter relies on readers pitching in to support it. 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