25% of super PAC money coming from just 5 rich donors

[Eugene]

Source: USA Today

25% of super PAC money coming from just 5 rich donors

By Fredreka Schouten, Gregory Korte and Christopher Schnaars, USA TODAY
Updated 10m ago

WASHINGTON – Five wealthy people, led by Dallas industrialist Harold Simmons and Las Vegas casino mogul Sheldon Adelson, have donated nearly $1 of every $4 flowing to the super PACs raising unlimited money in this year's presidential race, a USA TODAY analysis shows.

Those donations have helped new Republican-leaning outside groups swamp Democratic-friendly super PACs in fundraising — money that is used largely for attack ads. The large sums also have rejuvenated the underfunded campaigns of principal challengers to former Massachusetts governor Mitt Romney in the race for the GOP nomination.

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Simmons, a billionaire who pumped $3 million into Swift Boat ads in 2004 challenging Democrat John Kerry's Vietnam War record, is the largest super PAC donor of the 2012 election, the analysis shows.

He and his holding company, Contran, gave $12 million to American Crossroads, a super PAC affiliated with GOP strategist Karl Rove. He donated another $2.2 million to three super PACs supporting GOP presidential candidates. He did not respond to an interview request Tuesday.

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Read more: http://www.usatoday.com/news/politics/story/2012-02-21/super-pac-donors/53196658/1

[benld74]

1. ALL that Efin money, and what do they do with it? THEY WANT MORE!!!

They're just like those damn Quants 'working' in WS!

DO SOMETHING FOR YOUR COUNTRY!!!

[leveymg]

2. The Filthy Rich 5

[Surya Gayatri]

3. How can this corrupt system be termed a

"democracy"?
When a few elite rule, I believe such a political system is called an oligarchy :

ol·i·gar·chy/ˈäliˌgärkē/
Noun:
1. A small group of people having control of a country, organization, or institution.
2. A state governed by such a group.
SG

[harmonicon]

5. I think it's been that way for awhile.

These new organizations are just making it more obvious.

That said, I don't think that's the main obstacle to the US having a true democracy. To have a true democracy, I think you need an informed/educated electorate, and we don't have that. The funding of elections plays a role in that, but so does the elimination of the fairness doctrine, and the general negligence of the media.

I don't know how I would vote - or just not vote - in most races, if it weren't for the league of women voters guide (if you don't know this, they ask every candidate for every office a few simple and short questions on policy which they print - it doesn't give any opinion). How many people actually look at this - or something akin to it - though?

[fasttense]

4. Greedy little magots seem more adept than most at acquiring tons of cash and using it

to destroy Democracy. Seems these excessively rich thieves and con men hate Democracy.

[TBF]

6. Capitalism rewards this behavior so this is what we'll see

until we change the system.