Politician For Sale

Wall Street Picks Their Candidates

Despite Their Gestures, Democratic Candidates Continue To Take Corporate Money

Democratic candidates  increasingly feel like they must swear off corporate contributions, but Zaid Jilani at The Intercept shows that this might just be a cheap gesture. He writes:

SEN. KAMALA HARRIS, D-Calif., became the latest lawmaker to swear off all donations from corporate political action committees, telling a radio host in mid-April that she made the move after being asked about it at a town hall by a constituent.

Harris joins five other senators who have vowed not to take corporate PAC contributions: Sens. Cory Booker, D-N.J.; Kirsten Gillibrand, D-N.Y.; Elizabeth Warren, D-Mass.; Maria Cantwell, D-Wash.; and Bernie Sanders, I-Vt. …

Swearing off corporate PAC money can be one positive step a lawmaker can take towards reducing the corrupting influence of money on politics. But it’s far from enough.

The reason is that money from PACs – corporate or otherwise — comprises a relatively insignificant portion of these senators’ campaign contributions, raising the question of whether curtailing donations from corporate PACs will really make a difference. Critics think it doesn’t, noting that the bigger threat of influence comes from wealthy donors who don’t funnel their cash through PACs. But for politicians looking to seize on public discontent with the influence of money on politics, the decision makes for an effective messaging ploy.

Michael J. Malbin, a campaign finance researcher at Rockefeller College of Public Affairs and Policy, pointed out to The Intercept that Harris has received only a small amount of her total campaign funding from PACs. “However, she also received many of her itemized contributions from individuals whose income is derived from their work as corporate executives,” he said.

Benjamin Page, a long-time researcher of political decision-making at Northwestern University, agreed. “Refusing to take corporate PAC money makes a nice symbol, and I suppose we should give it some credit.  But far more money comes from wealthy individuals,” he wrote in an email. “That is much more important, and I believe it tends to corrupt both the Republican and the Democratic party.”

OpenSecrets, a project of the Center for Responsive Politics, tracked and categorized PAC donations between 2013 and 2018. The data reveals that most of the senators who’ve sworn off corporate PAC money received more from large individual donors — donors giving $200 or more, who can be regular people but also corporate executives and lobbyists — than from PACs in that time period.

  • Cory Booker: 10.37 percent of Booker’s campaign funding has come from PACs, 76.40 percent of which is from business PACs. By contrast, 72.12 percent of Booker’s campaign funding is from large individual donors.
  • Maria Cantwell: Just 0.62 percent of Cantwell’s campaign funding has come from PACs of any kind. In contrast, 73.61 percent of her campaign funding has come from large donors.
  • Kirsten Gillibrand:6.95 percent of Gillibrand’s campaign funding has come from PACs. Of this proportion, 65.73 percent is from business PACs. Meanwhile, 62.15 percent of her fundraising has come from large individual donors.
  • Kamala Harris: 4.89 percent of Harris’s campaign fundraising has been through PACs; 41.07 percent of this total has been from business PACs. By contrast, 64.99 percent of her campaign funding has come from large donors. (Though the OpenSecrets analysis covered a five-year period, in Harris’s case, it only goes back to 2015, when she first ran for U.S. Senate.)
  • Bernie Sanders:1.73 percent of Sanders’s funding has come from PACs. Of that, 7.27 percent is from business PACs. 17.70 percent of his funding has come from large individual contributors.
  • Elizabeth Warren: Just 1.4 percent of Warren’s campaign money has come from PACs. Of that, 12.91 percent is from business PACs. Large individual donors made up 29.72 percent of her campaign funding.

These figures make clear that the senators are giving up relatively little money by swearing off donations from corporate PACs — it just isn’t a very big portion of their overall campaign funding. Which raises the question: Is it really possible that the system is being corrupted by sums of money this small? If not, then politicians — and the voters they’re looking to win over — need to look closer at how big money is corrupting Washington.

There are further examples of how corporate influence is not diminished by this gesture, with Kirsten Gillibrand being just one example:

UNIVERSITY OF MASSACHUSETTS Boston professor emeritus Thomas Ferguson is one of America’s leading academics who studies the influence of money in politics; he is the brain behind “the investment theory of party competition,” which says that politicians are essentially driven by donors, their true political base.

He doesn’t think much of senators disavowing corporate PAC money. “It’s an absolutely cheap gesture that means nothing, that’s why they do it,” Ferguson said in an interview. He pointed out that corporations can also run their money through the Democratic Senatorial Campaign Committee, and that these senators haven’t disavowed the comittee’s backing.

A close look at Gillibrand’s and Booker’s top donors makes clear just how little it matters when senators swear off corporate PAC money. Gillibrand’s 11th-largest donor is Morgan Stanley, which did not give a penny of its money to Gillibrand through a PAC. Instead, Morgan Stanley employees donated $40,425 to her campaign committee as individuals. Of the $814,463 that she has received from the securities and investment industry, just $70,500 came from PACs.

Gillibrand was one of the Democratic senators who voted down an amendment that would have broken up Wall Street’s largest banks in May 2010. Jeff Connaughton, an aide to then-Sen. Ted Kaufman, D-Del., who co-wrote the amendment, noted dryly in his book that an Obama administration Treasury official later boasted that if the administration had supported the amendment, it would have passed, but because they didn’t, it didn’t. Speaking about the amendment four years later, Warren noted that it “had bipartisan support, and it might have passed, but it ran into powerful opposition from an alliance between Wall Streeters on Wall Street and Wall Streeters who held powerful government jobs. They teamed up and blocked the move to break up the banks.”

This was contrasted with how Bernie Sanders and Elizabeth Warren have raised money:

A better path to limiting the influence of big money is for senators to simply develop a small donor base that supplants large donors of any sort, Ferguson said. “Let them say they won’t take money over, you know, a particular limit — $500, $750, whatever you like,” he suggested.

Page agreed. “What we really need from candidates is reliance on small donations, if possible, as was done by Bernie Sanders and (to a lesser extent) Barack Obama,” he wrote to us.

In that regard, Warren and Sanders deserve an honorable mention, as they are the only senators in this group of six who got the majority of their campaign funding from small individual contributors since 2013. Nobody else comes close.

It’s easy to imagine lawmakers getting swayed by a pool of donors from a big bank or fracking company who give them $2,000 donations; it’s less easy to imagine that if the politicians build a donor base of people throwing in relatively small amounts, that they’d fall under pernicious influence.

(The Onion had an amusing article on this topic in 2016, with the headline: “Bernie Sanders Clearly In Pocket Of High-Rolling Teacher Who Donated $300 To His Campaign.”)

Politico On “How the Bernie Wing Won the Democratic Primaries”

While there have been many negatives since the 2016 election, including both the presidency of Donald Trump and the Democratic establishment falling into McCarthyism and Cold War Revivalism, one good result was a weakening of the hold by the Clinton/DLC faction on the Democratic Party. A Clinton victory would have probably meant watching the Democrats pushing conservative candidates who would go down to defeat by even more conservative Republicans. Instead we are seeing a chance for more liberal and progressive candidates to run.

Politico has already declared the left to be the winners this year in an article entitled, How the Bernie Wing Won the Democratic Primaries. Here are some excerpts (quoting of which, as usual, does not indicate complete agreement):

In state after state, the left is proving to be the animating force in Democratic primaries, producing a surge of candidates who are forcefully driving the party toward a more liberal orientation on nearly every issue.

These candidates are running on an agenda that moves the party beyond its recent comfort zone and toward single-payer health care, stricter gun control, a $15 minimum wage, more expansive LGBT rights and greater protections for immigrants.

In the surest sign of the reoriented issue landscape, they’re joined by some of the most prominent prospects in the 2020 Democratic presidential field—Cory Booker, Kirsten Gillibrand and Kamala Harris among them—who are embracing the same agenda.

According to data compiled by the Brookings Institution’s Primaries Project, the number of self-identified, nonincumbent progressive candidates in Texas spiked compared with the previous two election years. This year, there were nearly four times as many progressive candidates as in 2016. Meanwhile, the number of moderate and establishment candidates remained flat for the past three elections in Texas.

Even in Illinois, where the Democratic Party holds most of the levers of power, the data tell a similar story: There were more progressive candidates this year, the Primaries Project reports, than moderate and establishment candidates, by a count of 25 to 21…

The party’s ascendant left is coming after everybody, regardless of the outcome in Lipinski’s race. Progressive energy is pulsing through the primaries, most notably in the proliferation of Trump-backlash grass-roots groups like Indivisible, Justice Democrats and Brand New Congress that are teeming with activists inspired by Bernie Sanders’ 2016 presidential campaign. There’s no comparable counterweight within the establishment…

These progressives aren’t necessarily sweeping races up and down the ballot. But they are winning enough of them—and generating enough grass-roots pressure—to continue driving the party leftward.

In Texas, a greater percentage of the progressive candidates either won or advanced to a runoff than the percentage of moderate and establishment candidates who did. In Illinois, the success rate between the wings was about equal. Five moderate or establishment candidates won their primaries, compared with three progressives.

Many on the left will question whether Cory Booker, Kirsten Gillibrand, and Kamala Harris truly embrace the same agenda, but as politicians they definitely see the need to at least give lip service to a more progressive agenda than Hillary Clinton did, despite her weak attempts to modify some of her conservative positions.

As is so often the case with articles which cite issues backed by more progressive candidates, I am also disappointed that nothing is said about Democrats opposing American interventionism and the neoconservative foreign policy which was promoted by their last presidential candidate. Nor was anything said about scaling back the surveillance state, restoring civil liberties lost as a consequence of the “war on terror,” or ending the drug war. It is as if the Democratic Party has stopped trying to dismantle the deleterious policies of George W. Bush.

If the victory is being called a victory by the “Bernie Wing,” in articles such as this, I hope that Bernie Sanders speaks out more on these issues. He has often taken the correct side, even if he has not stressed such issues. Sanders initially ran as an insurgent candidate to raise the economic issues which were more important to him, not expecting to win the 2016 nomination. Now that his wing has a chance of taking over the party, and winning elections at all levels, I hope that he does devote more time to these issues.

Sanders Seen As Front Runner For 2020 Democratic Nomination

Bernie Sanders is repeatedly topping lists of potential 2020 Democratic candidates for president. The latest is a list at The Fix of The top 15 Democratic presidential candidates for 2020, ranked:

1. Vermont Sen. Bernie Sanders (Previous: 1)

must-read story from Politico’s Gabriel Debenedetti recently showed how Sanders conspicuously seems to be addressing the shortcomings that hampered his candidacy in 2016 — most notably his lack of familiarity with foreign policy and of inroads with powerful pro-Democratic groups, such as the American Federation of Teachers. Sanders has done nothing to diminish speculation that he will run again; the biggest question is, and will be, his age (76) — as it is with Brown (79) and Biden (75).

Complaining of a lack of familiarity with foreign policy is a bit of a stretch considering how Bernie Sanders has a far better track record than Hillary Clinton did when it came down to the decisions they made. I am hoping that greater study of foreign policy might lead Sanders to giving more priority to reducing foreign interventionism in a future campaign.

Joe Biden follows at 2nd, Elizabeth Warren is 3rd, Kirsten Gillibrand is 4th, and Kamala Harris is listed as 5th.

Brent Budowsky, writing at The Hill, wrote yesterday that Sanders would be the instant frontrunner if he runs:

If Sen. Bernie Sanders (I-Vt.) decides to run for president in 2020, he would be the instant frontrunner for the nomination and favored in the general election against Trump or any other GOP nominee. If Sanders decides not to run, there is a strong likelihood that the ultimate nominee will campaign, win and govern as a true progressive in the Sanders mold.

When historians look back on the Sanders campaign in 2016, they will note two fundamentally important and lasting contributions that Sanders and his supporters made.

First, the Sanders platform in the 2016 primaries, which was significantly but not fully included in the Democratic platform at the convention, will provide the policy blueprint for the next Democratic presidential campaign and the next great Democratic president.

The progressive populist policies of William Jennings Bryan evolved into the progressive populist presidency of Teddy Roosevelt. The populist policies of Teddy Roosevelt, when he campaigned to regain the presidency as the progressive candidate after abandoning the Republican Party, were largely incorporated by Franklin Roosevelt into his New Deal.

Similarly, the programs championed by Sanders in 2016 will largely be adopted in the Democratic platform in 2020 and fervently championed by the 2020 nominee, whether it is Sanders or a similar candidate.

The second historic legacy of the Sanders campaign in 2016 was that he challenged, and defeated, the old style campaign fundraising paradigm of previous major candidates. It was revolutionary and historic that Sanders energized a gigantic army of small donors and became a fundraising leader who changed campaign fundraising forever.

The Sanders small-donor paradigm thrives today in the pro-Sanders group, Our Revolution, and in the enormous impact small donors have had since 2016, most recently in the Alabama Senate election.

Repeated polls showing that Bernie Sanders is the most popular politician in the country (while the favorable ratings of Clinton and Trump continue to decline) is another point in his favor.

While early predictions for presidential nominations are often wrong, it is encouraging that Sanders has been named by so many sources as the likely front runner for several months. For example, as I posted in July, Vox, A Voice Of The Democratic Establishment, Now Realizes That Bernie Sanders Is The Democrats’ Real 2020 Frontrunner.

We certainly cannot count on the Democrats making the wisest decision, considering that they essentially rigged the nomination for Clinton in 2016 despite all the evidence that Clinton would have difficulty winning and lagged about ten points behind Sanders in head to head match-ups against Republicans. There are also many in the Democratic establishment who are more concerned about maintaining their positions than what is best for the party, and for the country.

USA Today Blasts Donald Trump Following His Attack On Kirsten Gillibrand

The loss by Roy Moore following Donald Trump’s endorsement was not the only humiliation for Donald Trump this week. USA Today, hardly known for their editorials, blasted Trump following his tweet yesterday attacking Kirsten Gillibrand. From their editorial:

A president who’d all but call a senator a whore is unfit to clean toilets in Obama’s presidential library or to shine George W. Bush’s shoes: Our view

With his latest tweet, clearly implying that a United States senator would trade sexual favors for campaign cash, President Trump has shown he is not fit for office. Rock bottom is no impediment for a president who can always find room for a new low.

If recent history is any guide, the unique awfulness of the Trump era in U.S. politics is only going to get worse. Trump’s utter lack of morality, ethics and simple humanity has been underscored during his 11 months in office. Let us count the ways:

  • He is enthusiastically supporting Alabama’s Republican Senate candidate Roy Moore, who has been accused of pursuing — and in one case molesting and in another assaulting — teenagers as young as 14 when Moore was a county prosecutor in his 30s. On Tuesday, Trump summed up his willingness to support a man accused of criminal conduct: “Roy Moore will always vote with us.”
  • Trump apparently is going for some sort of record for lying while in office. As of mid-November, he had made 1,628 misleading or false statements in 298 days in office. That’s 5.5 false claims per day, according to a count kept by The Washington Post’s fact-checkers.
  • Trump takes advantage of any occasion — even Monday’s failed terrorist attack in New York — to stir racial, religious or ethnic strife. Congress “must end chain migration,” he said Monday, because the terror suspect “entered our country through extended-family chain migration, which is incompatible with national security.” So because one man — 27-year-old Akayed Ullah, a lawful permanent resident of the U.S. who came from Bangladesh on a family immigrant visa in 2011 —  is accused of attacking America, all immigrants brought to this country by family are suspect? Trump might have some credibility if his criticism of immigrants was solely about terrorists. It isn’t.  It makes no difference to him if an immigrant is a terrorist or a federal judge. He once smeared an Indiana-born judge whose parents emigrated from Mexico. It’s all the same to this president.
  • A man who clearly wants to put his stamp on the government, Trump hasn’t even done his job when it comes to filling key government positions that require Senate confirmation. As of last week, Trump had failed to nominate anyone for 60% of 1,200 key positions he can fill to keep the government running smoothly.
  • Trump has shown contempt for ethical strictures that have bound every president in recent memory.  He has refused to release his tax returns, with the absurd excuse that it’s because he is under audit.  He has refused to put his multibillion dollar business interests in a blind trust and peddles the fiction that putting them in the hands of his sons does the same thing.

Not to mention calling white supremacists “very fine people,” pardoning a lawless sheriff, firing a respected FBI director, and pushing the Justice Department to investigate his political foes.

It is a shock that only six Democratic senators are calling for our unstable president to resign.

A Way Too Early Look At The 2020 Election, Including A Pundit’s Prediction That Clinton Will Run Again

Yesterday I looked at very early discussions from pundits and pollsters regarding the 2018 Congressional elections. It is far too early to say what will happen, but at least there is old data correlating presidential approval ratings and changes in seat in the midterm elections. There are also pundits with way too early predictions as to the 2020 presidential elections, including one predicting that Hillary Clinton will not only run again, but win the Democratic nomination. Fortunately any predictions made today have a good chance of not coming true.

The New York Post looks at who the Trump White House sees as potential challengers, claiming that they are already working on finding negative information on them. A lot will change between now and 2020 and any predictions are risky. Who would have predicted that Barack Obama would be the nominee four years before he ran? However, it is interesting to see who the Trump White House is concerned about, assuming that the Post has reliable information as to their thoughts:

Trump’s chief strategist, Steve Bannon, asked consultants to scour the backgrounds of four outspoken Democrats — Ohio Sen. Sherrod Brown, Connecticut Sen. Chris Murphy, Colorado Gov. John Hickenlooper and Dallas Mavericks owner Mark Cuban, two sources close to the administration said.

“The White House political department wants people to start looking into them,” said one source close to the White House. “Trump is obsessed with running for re-election.”

Both Murphy, a freshman senator who has lambasted Trump’s immigration orders, and Brown, a 10-year Senate vet who made Hillary Clinton’s VP short list, are seen as viable threats who can quickly raise money and build a network of supporters, the sources said.

Hickenlooper, who founded a brewery before becoming governor of the Western swing state, is seen as a less-combative rising star, the sources said.

But the White House’s “biggest fear” is that Cuban, a billionaire businessman, would run because he can appeal to Republicans and independents, the sources said.

“He’s not a typical candidate,” the second insider said. “He appeals to a lot of people the same way Trump did.”

This could be one reason that Trump is attacking Cuban, not that he needs any reason to attack anyone who has been critical of him.

Making predictions based upon age is risky, but reportedly they have eliminated not only Bernie Sanders but Elizabeth Warren as possibilities due to being too old. They eliminated Kirsten Gillibrand, believing she is too young. The Post also says, “Trump’s political team is also counting out Cuomo and New Jersey Sen. Cory Booker, because they’ve been tainted by corruption probes.” The nomination of Hillary Clinton in 2016 showed that being tainted by corruption might not be a disqualification.

I would hope that the Democrats have learned their lesson and would not consider nominating Clinton again, but Matt Latimer predicts in Politco Magazine that not only will Clinton run again, but that she will win the nomination. His evidence for why he thinks she plans to run could indicate such plans, but is hardly conclusive. It is also conceivable that she wants to remain in the public eye, and rehabilitate her reputation, without plans to run. While perhaps she should take this advice, I really doubt that this is what she will do:

Hillary Clinton has 100 percent name ID, a personal fortune and a bastion of loyalists. She could enter the race at the last possible moment—at the behest of the people, of course—and catch her Democratic Party rivals by surprise. To soften her reputation as a programmed, overly cautious and polarizing figure, Clinton should eschew the front-runner label and run as an underdog, praising the other candidates and their proposals, opening up her campaign bus to the press corps and offering to have a freewheeling debate with any major rival, at any time, and anywhere.

It is possible she could win again, especially if their is a divided field without a clear front runner as he predicts, but based upon Clinton’s past I doubt this is what she will do. If she wants to run, her first instincts will be to once again try to clear the field and start running early with claims of inevitability.

Opening up to the press corps is the last thing Hillary Clinton would feel comfortable doing. She will continue to oppose liberal views which are far outside of her comfort zone. She certainly does not want to agree to frequent or freewheeling debates. Clinton knew exactly what she was doing when she tried to get the DNC to set a limit of four debates (with the DNC agreeing to limit it to six). Postponing the first debate until fairly late in the cycle made it harder for other candidates to establish themselves. Initially, due to her long experience in politics, she did dominate the debates. However, as Sanders developed experience in debating her, and the fact checkers reviewed her falsehoods, the debates turned against her, such as before the Michigan primary (which foreshadowed her general election loss). If there had been multiple debates starting earlier in the process, I doubt Clinton would have won the nomination.

Regardless of whether Clinton can win the nomination, I hope that Democrats have learned their lesson after loses in 2010, 2014, and 2016. Running as a Republican-lite party does not work. Democrats need to run their best possible candidate in 2020, not one so weak that she could not beat Donald Trump. It is especially important for Democrats to regain control of some of the state legislatures they have lost prior to redistricting in 2020, and a weak candidate on top of the ticket will make this more difficulty. Even if Clinton could win, after Trump we do not need a conservative DLC-type Democrat and neocon in the White House.