Pro-Obama super PAC outpaces GOP counterpart
Monday, October 22, 2012 - 10:28 Justin Sullivan/Getty Images Pro-Mitt Romney super PAC Restore Our Future doubled its monthly hall but was outraised by its pro-Obama counterpart Priorities USA Action for the second month in a row. Restore Our Future , a super PAC supporting Mitt Romney’s candidacy, doubled its fundraising total in September. It took in $14.8 million , but was still outraised by the pro-President Barack Obama Priorities USA Action , which raised $15.3 million for the month. The totals show a reversal of a trend — Republicans to date have fared better at raising money for outside groups, though Romney still has American Crossroads, a well-funded super PAC, and Crossroads GPS, a nonprofit, in his corner. Restore Our Future brought in $7 million in August. Most of the major super PACs had until Saturday at midnight to file monthly reports with the Federal Election Commission on September’s fundraising activities. Meanwhile, J. Joe Ricketts, whose conservative Ending ...
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The summer of super PAC money
Friday, September 21, 2012 - 12:39 AP Photo/Gerald Herbert President Barack Obama waves as he arrives to speak at a fundraiser at The House of Blues in New Orleans, Wednesday, July 25, 2012. Democratic super PACs have begun to make up ground in the political arms race, raising substantially more in August than they did during the previous month, new filings with the Federal Election Commission show. For much of the 2012 election cycle, Democratic super PACs have been outraised by their GOP rivals. The groups, made possible after the U.S. Supreme Court’s 2010 Citizens United ruling , are allowed to collect contributions of unlimited size from individuals, unions and companies — so long as the funds are spent on advertisements that are not coordinated with any candidate. Priorities USA Action , the primary super PAC supporting the re-election of President Barack Obama, took in $10.1 million through the end of August. That’s up from $4.8 million in July. While the group finished ...
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The companies that spend the most on politics
With the U.S. presidential election heating up, 24/7 Wall St. decided to examine public companies’ political contributions in the current election cycle. The donations include monies given to political parties, candidates, and political action committees.
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Stealth spending on the rise as Election Day approaches
Thursday, October 18, 2012 - 13:45 Chip Somodevilla/Getty Images Romney campaign pins are on display for sale in the GOP gift shop during the third day of the Republican National Convention. The top two spending organizations taking advantage of the Citizens United decision are Republican backers. After the U.S. Supreme Court’s 2010 ruling that unleashed corporate and union spending on elections, there seemed to be a silver lining: the identity of those who fund all those annoying ads would be revealed to the public on a regular basis. It hasn’t quite worked out that way. Since Labor Day, spending by outside groups taking advantage of the high court’s Citizens United decision totaled a little more than $229 million, including unions. Forty-four percent of the total — $100 million — has come from non-disclosing, nonprofit corporations. The clearest example comes from the top two spenders. Both organizations are Republican backers. And they also happen to share the same ...
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Goldman Sachs switches support to Romney
Tuesday, October 9, 2012 - 11:22 RICHARD A. BROOKS/AFP/Getty Images Goldman Sachs has long supported Democrats in the presidential contest. But not this year. Why Goldman and other Wall Street banks are throwing their support behind Mitt Romney. Goldman Sachs has long supported Democrats in the presidential contest. Goldman employees gave generously to then-Senator Barack Obama in 2008. But not this time. Goldman, along with the majority of people who work at big Wall Street banks, are backing former Massachusetts Gov. Mitt Romney instead. One big reason? Dodd-Frank. Banks initially opposed the federal government's 2010 regulation of the financial sector. Perhaps even more significant, however, was the sense that Goldman and other highly influential institutions suddenly seemed a little less influential in Washington. Accustomed to members of Congressional Financial Services committees coming in for office visits, and frequent telephone communication, under Obama's White House, communciation ...
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