The Watering Hole, Thursday, June 21st, 2012: $$$$

(R)Money

Newsmax.com emailed me the following opinion piece, summarizing much of the wrongness which is the result of the SCOTUS’ “Citizens United” decision. I don’t think I could add much to this:

The Best Government Money Can Buy

Tuesday, 19 Jun 2012 10:35 AM
By Susan Estrich

“My friend Kathleen and I have had a running debate for decades now about whether it is possible to bring reform to the marriage of money and politics.

I’ve been in favor of all kinds of regulations (including those that as a campaign manager I drove a truck through) limiting the role of money, and wealthy donors, in elections.

Kathleen has argued from the beginning that “my” limits wouldn’t work in practice and shouldn’t survive constitutional scrutiny in theory, and that the best and only workable system is one that allows unlimited contributions but requires immediate disclosure. [Personally, I think that Kathy is completely wrong: “immediate disclosure” is unworkable and probably unenforceable.]

And now we’ve both lost.

My failure is, of course, the most apparent. The regulations haven’t worked. You could blame the Supreme Court for making it impossible (You can’t have regulation if it isn’t comprehensive, and you can’t be comprehensive with all these Super PACs and independent committees operating outside the system.), or you could argue that with so much at stake, people will always find loopholes. In either event, it is clear that the so-called limits on campaign contributions only limit those who don’t want to contribute even more.

People are spending six and seven and now eight figures — eight figures! — to support their candidates.

This might be fine (or at least better than total failure) if we had full disclosure of who was spending what on whom. We don’t.

Today’s news accounts of record spending are based in part on the decision by Sheldon and Dr. Miriam Adelson to contribute some $10 million to a Mitt Romney Super PAC, bringing their contributions to date to a total of $35 million in this presidential race. That’s a lot of money. But at least the Adelsons are upfront about what they are doing.

In fact, there are other groups collecting money out there, in just as large chunks, who are not revealing who is giving it to them. No disclosure. Justice Anthony Kennedy’s opinion in the landmark Citizens United case (which turned on the spigot of unlimited corporate cash) went on and on about the value of disclosure — but guess what. This campaign season, you can give millions to an organization like American Crossroads (aka Karl Rove’s group) and remain anonymous.

No accountability. No disclosure. And therefore, no ability to find out exactly what anyone is getting for their money.

Make no mistake: Published or not, candidates know who’s helping them, particularly when it gets to seven or eight figures.

Forty years after the infamous 1972 election, the election in which cash changed hands in exchange for favorable treatment by regulators, the election that spurred reform of our campaign finance system, we have returned to where we were — but with many more zeros, greater sophistication and no guarantee of disclosure. And whoever wins this election probably won’t change a system that worked for him or her, either at the presidential or congressional level.

Decades ago, when I first thought about running for office, what turned me off was the amount of time my friends who were candidates had to spend raising money. Politics, I understood, is not for people who like policy, but for people who excel at selling: cars, encyclopedias, themselves.

In the years since, a bad system has gotten worse than I ever could have imagined. It’s not just that the numbers have sprouted zeros, but that we’ve lost all vestiges of post-Watergate shame. Nothing embarrasses anyone.

Back in the 1988, when I explained the rules (antiquated now) about raising soft money and creating a party-based Victory Fund that could accept unlimited contributions, Michael Dukakis looked at me aghast (could I possibly be right?) and said he simply wouldn’t be comfortable with someone donating more than $250,000. He understood, as any honest pol will admit, that when someone is giving you that kind of money, how could your judgment not be affected?

Today, $250,000 is kid stuff.

And here’s the worst part. From all I know, the Adelsons care deeply about public policy issues, including support for the state of Israel. They have so much money that they don’t really need anything in exchange. But for many of those giving, a six-, seven- or eight-figure contribution is peanuts compared to the benefits they stand to reap if their favored candidate is elected.

The best government money can buy. And we don’t even know who is doing the buying.”

Yup…what she said.

This is our daily open thread — I’m sure that all of you have something to say, so have at it!

The Watering Hole, Monday, April 16th, 2012: Mixed Bag-o-News

For today’s offering, I give you a selection of the stories whose headlines drew my attention from various sources.

First up, from ForeignPolicy.com: “Save the Cato Institute, Save the World?”, a piece by Justin Logan regarding the continuing saga of the Koch Brothers vs CATO’s President Ed Crane.

Still at ForeignPolicy.com: in the wake of Rick Santorum’s announcement that he was (finally) bowing out of the Presidential race, Joshua Keating reminisces about five of Santorum’s foreign policy gaffes in his post “Our Favorite Rick Santorum Moments.” (Keating and I agree that the ‘Dutch Euthanasia’ story was #1.)

On to Newsmax.com: here, the headline “Gillespie: Romney’s Social Stances Won’t Alienate Women” caught my eye. As I started reading the article, I was puzzled by the fact that Romney had hired Ed Gillespie, who, with Karl Rove, ran the American Crossroads Super-PAC and Crossroads GPS. This puzzlement led me to:

MotherJones.com: where their April 5th, 2012, headline read “Mitt Romney Hires GOP Super-PAC Guru and Ex-Corporate Lobbyist.” I was glad to see that Mother Jones questioned the co-mingling of SuperPAC and candidate. Shouldn’t that be against even the Citizens United ruling?

Another bright shiny object from Mother Jones: “Mitt Romney Courts Big Tin Foil” – who could resist a headline like that? I haven’t delved into this one myself yet, but it sounds promising.

And lastly, from TheWeek.com (under the category “World Opinion”): “5 Curious Titanic Stories You May Have Missed,” the first ‘curious’ story being the fact that too many younger “Titanic” moviegoers did not realize that the movie was based on an historical event. (facepalm)

Enjoy!

This is our daily open thread — What’s on your mind today?