Last summer, on her final day as the Chairman of the FDIC, Shelia Bair decried the short-termism that has overtaken both Wall Street and Washington, where “[o]ur financial markets remain too focused on quick profits, and our political process is driven by a two-year election cycle and its relentless demands for fundraising.” This short-termism has taken hold of the reins of our larger political system and increasingly characterizes policy initiatives at every level of government.
In 1907, Congress banned corporate contributions to federal candidates in the wake of the robber baron-era scandals. In 1947, the ban was formally applied to corporate expenditures and extended to cover labor unions.
Job-seekers beware — whether you're applying to do maintenance work in Denver, telephone tech support in Littleton, plumbing in Fort Collins, work as a home care aide in Aurora, or even just scoop frozen yogurt in Colorado Springs — there's one qualification you'll need regardless of your skills or ability to do the job: good credit.
The difference is obvious, Potter replied. Because 527 groups were legally shady, they attracted far less money from fewer donors. True, the FEC didn’t enforce the law, but donors couldn’t be sure that would be the case, and some were unwilling to take the risk.
New York, NY--Demos views the mortgage servicing deal reached today between a coalition of state Attorneys General and 5 major Wall Street banks as an important stepping stone in the effort to secure justice for homeowners victimized by the foreclosure crisis.
The U.S. Supreme Court's Citizens United decision unleashed the specter of unlimited corporate political donations in U.S. elections. So far, however, it's mostly rich individuals doing the donating.
A new report from two public-interest groups confirms fears "that the cash for big-ticket campaign spending like TV advertising is increasingly controlled by an elite class of super-rich patrons not afraid to plunk down a million bucks or more for favored candidates and causes."
Washington, D.C. – Today U.S. PIRG Education Fund and Demos released a new analysis of the funding sources for the campaign finance behemoths, Super PACs. The findings confirmed what many have predicted in the wake of the Supreme Court’s damaging Citizens United decision: since their inception in 2010, Super PACs have been primarily funded by a small segment of very wealthy individuals and business interests, with a small but significant amount of funds coming from secret sources.
One of the effects of the Supreme Court's Citizens United decision is that it allowed corporations to give unlimited amounts to independent expenditure political action committees capable of supporting or opposing political candidates.
But a new report from the non-profit group Demos shows that the majority, 55.6 percent, of donations to super PACs in 2010 and 2011 still came from individuals rather than for-profit entities.
A joint analysis by Demos and US PIRG released today takes a detailed look at the increasing (and deleterious) impact that so-called Super PACs are having on elections in the United States. Super PACs are independent political action committees that can accept unlimited and often undisclosed financial contributions from donors to campaign for or against candidates or issues during an election.
Six out of the top 10 fundraising super PACs have received untraceable donations. In total, 20 percent of super PACs received untraceable donations in 2011.
A study entitled "Auctioning Democracy" also found that the super rich give a large amount of the funding received by super PACs. This skews American politics, it concluded, because wealthy donors have different life experiences and political preferences than other citizens.