Secret Campaign Cash

Originally published in Politico.

Financial wilding led to our economic collapse. Use of exotic “innovations” — like derivatives and credit default swaps — exploded. Regulators were paralyzed while huge bets were made in the shadows. Markets, we were assured, self-regulate. Congress blocked reform. Big money rushed in, seeking ever higher returns. Laws legitimized shadow financial activities. Speculation careened out of control.

A similar wilding now threatens our democracy as out-of-control big money floods our elections. These exotic derivatives are the super PACs and related operations, fueled by cartloads of secret money. The Federal Election Commission is toothless and paralyzed. Congress blocks new regulations. The Supreme Court opened the floodgates with Citizens United, ruling that corporations have the right to spend unlimited sums in “independent expenditure” campaigns. The marketplace of ideas, we are assured, can regulate itself.

This financial wilding is likely to escalate until it thoroughly corrupts our democracy. more »

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The Senate scheduled a vote for 5:30 p.m. today on restricting labor rights in the Federal Aviation Administration reauthorization bill. Committee Dems caved and gave away union election rights. At least 18 unions, including the Communications Workers of America and the Service Employees International Union, have voiced opposition. Here are some actions you can take right now. more »

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Saturday is the two-year anniversary of the infamous Citizens United ruling by the Supreme Court that allowed corporations to spend unlimited amounts of money on political campaigns.

Since then, our democracy has been drowning in a tsunami of corporate special interest money. Our government is under the thumb of the Koch brothers and other corporate moguls instead of the hands of the people.

And citizens are uniting in their disgust.

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On Thursday, December 8th, Senator Bernie Sanders (I-VT) introduced a constitutional amendment to drive big money out of politics for good. He was not alone. Senator Mark Begich of Alaska joined him. more »

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Does it seem to you like many of the things conservatives advocate end up bringing the country down? The budget cuts they demand hurt our schools and infrastructure -- which ends up making us less competitive in the world. They're against a national economic/industrial policy when every other G20 country has one -- so we send our companies out to compete alone against national systems. more »

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