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  • 29
    Aug
    2012
    5:18pm, EDT

    Obama: Consider amending constitution to undo court ruling on political spending

    By Michael O'Brien, NBC News
    Follow @mpoindc

     

    TAMPA, Fla. -- President Barack Obama suggested he would support beginning an effort to amend the U.S. Constitution to undo a Supreme Court decision that gave way to the rise of so-called "Super PACs."

    In a chat on the social media website Reddit, the president told readers that he would back an amendment to counteract the impact of the court's ruling in Citizens United v. FEC, a 2010 decision that did away with limits on corporate and labor spending in elections.

    "Over the longer term, I think we need to seriously consider mobilizing a constitutional amendment process to overturn Citizens United (assuming the Supreme Court doesn't revisit it)," the president wrote. "Even if the amendment process falls short, it can shine a spotlight of the super PAC phenomenon and help apply pressure for change."

    The president said he still supports the Disclose Act, which would force greater transparency from outside spending groups in disclosing their sources of funding. Obama also emphasized his support for banning lobbyists from the practice of "bundling," or raising large sums of contribution from a group of donors.

    The 2012 campaign has seen an unprecedented influx of political spending due to the rise of super PACs, which are able to raise and spend unlimited sums on electioneering. Many of those groups also have twin nonprofit arms, which are able to raise and spend millions on "issue advocacy" without having to disclose its funding source.

    Both Obama and his Republican opponent, Mitt Romney, have super PACs spending on their behalf this cycle. Obama reluctantly endorsed his, Priorities USA Action, after having initially opposed the groups;

    113 comments

    You GO Mr. President!!! I've been waiting to hear this from you! I think it is something BOTH sides can agree upon! Are elections should NOT be for sale to the secret highest bidder & foreign $$$ Although, given how cantankerous the RWNJ's are these days... maybe not...

    Show more
    Explore related topics: scotus, mitt-romney, barack-obama, first-read, super-pacs, decision-2012
  • 30
    Jul
    2012
    1:17pm, EDT

    Top CEOs donate to Romney over Obama by 4-1 margin

    By Michael O'Brien and Katherine Faulders, NBC News
    Follow @mpoindc

     

    The chief executives of America’s top corporations have thrown their financial support to Mitt Romney over President Obama by more than a 4-1 margin, according to a review of federal records conducted by NBC News.

    The presumptive Republican nominee’s presidential campaign has received almost $322,000 in direct donations from the CEOs of the companies listed on the annual “Fortune 500” list of the biggest U.S. companies.

    Charles Dharapak / AP

    Republican presidential candidate Mitt Romney delivers a specch in Jerusalem July 29.

    By comparison, the Obama campaign has raked in $75,500 in contributions this election cycle from CEOs of the companies included on the list, according to records through the second quarter of 2012 on file with the Federal Election Commission.

    While the sums are but a drop in the bucket relative to the hundreds of millions of dollars raised by both campaigns, they paint a picture of where the upper echelons of corporate America’s sympathies might lie at this point in the campaign. Overall, the Obama campaign has raised about $300 million in total, and the Romney campaign has collected roughly $153 million.

    Federal records indicate that 147 CEOs have made some level of contribution directly to either the Obama or Romney campaign. Eighteen of those individuals contributed to Obama; 129 gave to the Romney campaign. Many of the CEOs – though not all of them – donated the maximum $5,000 to their candidate of choice, hewing to laws limiting contributions to $2,500 each for the primary and general election campaigns.

    "People who support Mitt Romney do so because they support his pro-growth, pro-jobs agenda for the country," Romney spokeswoman Amanda Henneberg said. A spokesman for the Obama campaign declined to comment for this story.


     

    These donations only paint a small part of a broader portrait of how the business community has sized up the election. Some of these donors have contributed thousands more to joint fundraising committees for either Obama or Romney, which funnel donations to the respective national party infrastructures and to state parties. These funds weren’t included in NBC’s tally because they aren’t directly under the control of either presidential candidate, and conceivably could be used for other candidates, like Senate races.

    Romney’s advantage with these CEOs isn’t surprising. This same group of 500, not all of whom were CEOs of their respective companies in 2008, also favored Republican presidential nominee John McCain over Obama that year by a nearly 2-1 margin, $205,800 to $93,300. Fewer of the CEOs on the 2012 Fortune 500 gave in 2008; 112 total donated, 31 of whom gave to Obama and 81 of whom gave to McCain.

    While Republican presidential candidates have traditionally raised more money from corporate America than Democratic ones, some business leaders have complained about the federal health-care law and Dodd-Frank financial regulatory reform pushed by the Obama administration. What’s more, Romney is a familiar figure to many in the business community and has stressed his business background at Bain Capital as one of his chief credentials in his current White House bid.

    To that end, some of Obama’s 2008 CEO donors have, so far, declined to cut a check for him this cycle. But a sizable chunk of McCain’s 2008 chief executive donors haven’t given to Romney, either.

    There are some executives who switched sides, too. Three of them – Massachusetts Mutual's Roger W. Crandall, Norfolk Southern's Charles W. Moorman IV and Baxter International's Robert L. Parkinson Jr. – switched from supporting Obama in 2008 to Romney in 2012.

    One CEO, Paul E. Jacobs of Qualcomm, supported McCain in 2008 but has donated only to Obama in 2012.

    While the two presidential campaigns have received almost $400,000 in direct support from the CEOs, it’s likely that corporate involvement in the presidential election is even more extensive. In addition to donating the maximum to Romney or Obama, some of the CEOs have contributed additional thousands to victory committees, which distribute additional funds to the national parties and several state party organizations.

    The ascendancy of super PACs – which can accept unlimited contributions – in the time since the 2008 election opens the door to greater corporate involvement, too.

    For instance, Las Vegas Sands CEO Sheldon Adelson checks in at No. 278 on the Fortune 500 list, though existing FEC records reflect no direct contributions to the Romney campaign this cycle through June.

    That isn’t to say that he hasn’t impacted the 2012 election. Adelson singlehandedly contributed $5 million to the pro-Romney super PAC Restore Our Future (this after investing even more in a super PAC supporting Newt Gingrich during the Republican primaries). Adelson has suggested he’s willing to spend as much as $100 million to defeat Obama this fall.

    Many super PACs have also established twin, nonprofit groups as so-called “social welfare organizations” that, under existing federal law, can spend and receive millions on advocacy work, as long as they don’t directly support or oppose a candidate. There’s no way to know how much these groups – like Crossroads GPS, the 501(c)(4) arm of the conservative American Crossroads super PAC or the pro-Obama Priorities USA – have received from these CEOs or other corporate titans. Additionally, a corporation itself can give directly to these groups.

    2816 comments

    Is this supposed to come as a surprise? Willard is the poster boy for GREED is GOOD! Heaven forbid we NO longer allow Wall Street to function as their own private casino!

    Show more
    Explore related topics: mitt-romney, barack-obama, first-read, super-pacs, decision-2012, michael-obrien, appfeatured
  • 17
    Jun
    2012
    11:15am, EDT

    McCain sees new effort to reform campaign finance

    Former presidential hopeful John McCain talks about the impact private donations have on the presidential campaign.

    By Michael O'Brien
    Follow @mpoindc

     

    Arizona Sen. John McCain predicted a renewed effort of reform the nation's campaign finance laws as an outgrowth of the unrestrained influx of donations in this year's presidential campaign. 

    The Supreme Court's 2010 decision in the Citizens United case, which struck down many of the restrictions on political spending and spurred the advent of so-called "super PACs," was one of the worst in modern history, McCain said. 

    "I think there will be scandals as associated with the worst decision of the Supreme Court in the 21st Century — uninformed, arrogant, naive," McCain said on NBC's "Meet the Press."

    "The fact is that the system is broken," he later added. "I predict to you that there will be scandals, and I predict to you that there will be reform again."

    McCain has long been an advocate of campaign finance reform; a landmark 2002 campaign finance law bearing his name was the subject of the legal challenge that led to the Citizens United ruling. 

    That decision did away with many of the limits on the magnitude of political contributions, fueling an inflation in the cost of campaigns, particularly on the federal level. Super PACs like American Crossroads, Restore our Future and Priorities USA Action have been able to spend tens of millions of dollars already on the campaign. They're able to cull their support from a handful of wealthy donors, the size of whose report is sometimes clouded by twin nonprofit groups associated with super PACs, which don't have to disclose their donors. 

    One of the largest such donors has been Sheldon Adelson, the casino magnate who gave over $10 million to a super PAC in the primary that supported Newt Gingrich for president. Adelson's since pledged at least $10 million to the pro-Romney super PAC, Restore Our Future. 

    McCain fretted earlier this week that Adelson's contributions would be tantamount to "foreign money" entering the campaign, since Adelson's fortune is built in part by revenues from overseas casinos. 

    McCain said on Sunday that he's worried about Adelson's influence, but no more so than the influence of organized labor spending or other donors' impact on the campaign.

    "Not any more than other people who will give lots of money; not any more than the trade unions, the labor unions have. The whole system's broken, and there's a wash. I don't pick out Mr. Adelson any more than I pick out Mr. Trumka," he said, referring to the AFL-CIO's president.

    142 comments

    ......."The fact is that the system is broken," he later added. "I predict to you that there will be scandals, and I predict to you that there will be reform again." Gee You THINK?!!!! The fact that groups can contribute any amount of money has already shown that our country is for sale to the high …

    Show more
    Explore related topics: john-mccain, mitt-romney, campaign-finance, barack-obama, first-read, super-pacs, decision-2012, appfeatured
  • 21
    Mar
    2012
    4:39pm, EDT

    GOP super PAC airs ads countering Obama tour

    By NBC's Luke Russert
    Follow @LukeRussert

     

    The political undertones of President Obama's energy-related tour of swing states haven't been lost by the Republican super PAC American Crossroads, which launched new TV ads in the states where the president will stop.

    As NBC News’ Ali Weinberg pointed out, Obama's tour will tout his energy policies in states that have stubbornly high gas prices.

    But Crossroads, the brainchild of former Bush operatives Karl Rove and Ed Gillespie, isn't content to let that message go uncontested; the group made a $650,000 ad buy in Albuquerque, Las Vegas and Columbus -- the major media markets near the locations of Obama's stops.

    The blistering attack ad suggests that the Obama administration allowed for gas to go up by $2 dollars a gallon, and neglected to develop American oil shale or support construction of the Keystone pipeline. It also uses sound from National Journal’s Major Garrett, who says in the ad: “At the White House for 3 weeks, the word has been deflect or shield on gas prices. Put up the deflector shield.”

    The ad can be seen here:

    Tell President Obama: bad energy policies mean energy prices we can't afford.

    Watch on YouTube

    The size and scope of the ad buy demonstrates the influences of these deep-pocketed super PACs during the 2012 election cycle. Instead of dominating the local airwaves with his own message in swing states, the president will have to contend with countermessaging from a well-funded group of mainly unknown donors pushing back on his every word.

    21 comments

    suggests that the Obama administration allowed for gas to go up by $2 dollars a gallon

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    Explore related topics: video, barack-obama, american-crossroads, super-pacs, decision-2012
  • 6
    Feb
    2012
    11:36pm, EST

    Obama campaign reverses stance, urging donations to super PAC

    By Michael O'Brien, msnbc.com
    Follow @mpoindc

     

    President Obama's re-election campaign made an about-face late Monday in its opposition to super PACs, encouraging donors to send their unlimited contributions to one such group founded by a former administration spokesman. 

    Obama campaign manager Jim Messina emailed supporters to formally endorse contributions to Priorities USA, the Democratic super PAC founded by Bill Burton, a former White House deputy press secretary. 

    "With so much at stake, we can't allow for two sets of rules in this election whereby the Republican nominee is the beneficiary of unlimited spending and Democrats unilaterally disarm," Messina wrote on the campaign's blog. "Therefore, the campaign has decided to do what we can, consistent with the law, to support Priorities USA in its effort to counter the weight of the GOP Super PAC."

    The decision represents a stark reversal for Obama, who has been among the most vocal critics of these outside political spending groups since the Supreme Court's 2010 ruling that paved the way for the rise of super PACs. 

    NYT: Obama returns cash tied to Mexico 'casino czar'

    Obama has led Democrats in opposition to these groups, especially at the height of 2010's congressional elections. Republican-aligned groups like American Crossroads and Crossroads GPS took advantage of the new rules to great effect, spending tens of millions of dollars against Democrats during that election. 

    "And thanks to a Supreme Court decision called Citizens United, they are being helped along this year by special interest groups that are spending unlimited amounts of money on attack ads … without ever disclosing who’s behind all these attack ads," Obama said of Republicans and super PACs that fall. "Now, that’s not just a threat to Democrats — that’s a threat to our democracy."

    The president expressed his alarm as recently as Sunday in an interview with TODAY's Matt Lauer: "One of the worries we have obviously in the next campaign is that there are so many of these so-called super PACs, these independent expenditures that are gonna be out there," he said in a pre-Super Bowl interview.

    'Smell test'
    Moreover, after Priorities USA had launched, the White House continued to encourage it to abide by a stricter set of rules and disclose its donors. As recently as last week, Senate Democrats had announced their intention to investigate these groups, with New York Sen. Chuck Schumer (D) arguing that the notion that groups like these don't coordinate a failure of the "smell test."

    The Obama campaign's reversal, though, is a testament to the effectiveness of these groups. Restore Our Future, a super PAC established on behalf of Mitt Romney, has raised tens of millions of dollars already and spent some of that war chest with great effectiveness against Romney's rivals in the Republican primary. 

    Messina's statement Monday evening said that senior campaign officials, along with some White House and cabinet officials, would attend events and solicit donations for Priorities USA. Those actions are permitted under federal election laws, though Priorities USA is barred from coordinating formally with the Obama campaign. (Messina said that Obama, Vice President Biden and the first lady would not participate in this effort.)

    "As has become evident in the past month, the only enthusiasm in the Republican Party is among oil company billionaires and investment bankers on Wall Street looking to defeat President Obama," Burton said by email in reaction to the decision. "We’re committed to providing a balance to Karl Rove and the Koch brothers who have pledged more than half a billion dollars to their effort."

    According to a filing this month with the Federal Election Commission, Priorities USA Action had managed to raise about $1.2 million in the second half of 2011, leaving it with about $1.5 million in the bank at the end of the year. 

    With the heft of the Obama campaign behind its efforts, though, Priorities USA could see its bank accounts swell, giving the group millions to spend on behalf of the president — and agains his eventual Republican challenger — over the course of the next nine months.

    1224 comments

    Good ole Citizens United, there's no choice but to fight fire with fire. Come on people, send your donations for reelection of President Obama! Wall Street and Big Oil are getting behind the Teapublican candidates--of course. There are already a lot of right-wing Super PAC ads spinning the spin. I j …

    Show more
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