The problem with bundling money
By Barack Obama. Sen. Barack Obama (D-Ill.) is a candidate for president of the United States
Published May 21, 2007
When it comes to reforming Washington and limiting the power of special interests, a man who died more than 60 years ago had exactly the right idea. Supreme Court Justice Louis Brandeis said, "Sunlight is said to be the best of disinfectants; electric light the most efficient policeman."
Brandeis was a progressive responding to the excesses of the Gilded Age. Nearly a century later, we find Washington in need of a lot of sunlight and disinfectant.
Today, powerful special interests run Washington. The Republican Party's infamous "K Street Project" put lobbyists at the center of policymaking and political fundraising. The drug and insurance industries alone have spent more than $1 billion on lobbying and campaign contributions in the last 10 years. And, for the most part, they have achieved the results they wanted. It's no wonder that, last November, Americans cast a strong vote for change.
In response, Democrats in the House and Senate, with significant Republican support, have adopted new restrictions on the power of lobbyists. But one significant reform remains undone: shedding sunlight on the practice of "bundling" campaign contributions.
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