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  • 31
    Jan
    2012
    4:39pm, EST

    Not 'Desperate' for cash: Obama lists his big fundraisers

    President Obama's campaign released a report naming big money bundlers—including Hollywood celebrities and Silicon Valley CEOs--who have raised $71 million for his reelection and the Democratic National Committee. The Obama campaign collected $140 million in 2011 and had $82 million cash on hand at year's end. National Investigative Correspondent Michael Isikoff reports.

    By Michael Isikoff, NBC News
    with reporting by NBC's Azriel Relph and Lisa Riordan Seville

    The Obama campaign on Tuesday released an updated list of 445 major "bundlers" of campaign contributions, including a "Desperate Housewives" star, a Silicon Valley mogul, and a former Energy Department advisor who pushed a government loan for the now bankrupt Solyndra solar company.

    The report provides new evidence of just how important big money bundlers are in presidential campaigns. In all, the 445 bundlers raised $74 million to $100 million for the Obama re-election campaign, the campaign reported, according to totals calculated by NBC from the rough ranges the campaign reported for each person's collections. Just 61 elite fundraisers among that group brought in at least $30 million, or at least $500,000 apiece.

    The Center for Responsive Politics, a nonpartisan group, calcuated that the bundlers raised $35 of every $100 raised by the Obama campaign groups since April, when he launched his re-election campaign.

    Among the newly named bundlers who have raised at least $500,000 or more for the Obama re-election are Marc Benioff, a Silicon Valley computer tycoon who founded Salesforce.com and hosted a fundraiser for the president at his home last spring; Jack Rosen, a prominent New York real estate developer who is chairman of the American Jewish Congress; and Kawana Brown, the chief operating officer of Magic Johnson Enterprises.

    Altogether there are 88 newly disclosed bundlers for the president's campaign. Those raising $200,000 to $500,000 include Eva Longoria, the Desperate Housewives actress; Stewart Bainum, chairman of Manor Care and Choice Hotels International; Joel Cantor, owner of Cantor Partners real estate firm; and Mai Lassiter, wife of film producer James Lassiter.

    The Obama list of $500,000 bundlers includes some notable names that have previously been disclosed, such as Hollywood moguls Jeffrey Katzenberg (who has also donated $2 million to an Obama superpac), film producer Harvey Weinstein, and UBS Americas chairman Robert Wolf.

    One of the president’s top bundlers, former New Jersey governor Jon Corzine, recently caused embarrassment for the campaign when his investment  firm, MF Global, filed for bankruptcy, triggering an FBI investigation into whether its clients’ money had been mishandled. The Obama campaign and the Democratic National Committee last month returned over $70,000 of funds donated by Corzine  and his wife.

    Another name previously disclosed is a former Energy Dept. adviser, Steve Spinner, of Menlo Park, Calif., who pushed the controversial funding of the Solyndra energy company. Emails uncovered by a Congressional committee last fall showed that Spinner, while on an Energey Department board, repeatedly pushed officials to finalize a loan for Solyndra before Vice President Joe Biden visited the company in September 2009. "What is he waiting for?" Spinner wrote to a DOE official. I have the OVP [Office of the Vice President] and WH [White House] breathing down my neck on this."

    Other names on the list include:

    David Cohen, the executive vice president of Comcast, the cable firm that owns NBC and is co-owner of msnbc.com

    Anna Wintour, editor in chief of Vogue

    Laura Ricketts, co-owner of the Chicago Cubs

    Jon Corzine, former governor of New Jersey and former chairman of bankrupt MF Global Holdings

    Thomas Carnahan, founder of wind farm company Wind Capital Group

    Andrew Tobias, Miami, financial writer

    Crystal Nix-Hines, lawyer and Hollywood writer

    Mark Gallogly, private equity investor and member of the President's Economic Recovery Advisory Board

    The full list is here.

    In an official filing with the FEC, the campaign's fundraising arm, Obama for America, reported having $82 million cash on hand at year end. It raised $40 million in the last quarter. A related campaign arm, Obama Victory Fund, reported raising $24 million in the last quarter, finishing the year with $1 million on hand. The Obama Victory Fund, controlled by the campaign, jointly contributes to the Obama campaign and the Democratic National Committee.

    Overall, 61 Obama fundraisers are now in the highest bundler category, "$500,000 plus," 20 more than were on the previous list of 41 listed last fall.

    The Obama campaign is so far the only presidential campaign to voluntarily disclose its bundlers, fundraisers who are key to a presidential campaign’s success because they collect  checks en masse from multiple donors,  giving them far more clout than individual contributors who are still limited to giving $2,500 a piece.  Although John McCain and Obama both disclosed their bundlers in 2008.

    Update: Mitt Romney released a short list of bundlers on Tuesday, but only the names required by law to be disclosed, because they are lobbyists. Those names are here.

    President Obama, as a United States senator, proposed legislation in 2007 that would have required disclosure of supporters who raised $50,000 or more. That legislation was not enacted, but Obama voluntarily released names during his campaign and during his term in office.

    Read more about the reports filed Tuesday:

    After TV cameras leave, Romney PAC discloses $18 million

    Spielberg, labor union are big backers of Obama Super PAC

    Perry PAC's $1 million donor got help with nuclear waste dump

    Major GOP Super PAC raised $51 million in 2011

    Sugar Daddy: Huntsman's father gave $1.9 million to Super PAC

    Colbert Super PAC raises $1 million; non-satirical PACs to follow

    563 comments

    "showing that just its 61 elite fundraisers brought in at least $30 million for the president’s re-election" 500G per fundraiser... Same old same old...

    Show more
    Explore related topics: campaign-finance, obama, featured, election-2012
  • 31
    Jan
    2012
    12:20pm, EST

    Sugar Daddy: Huntsman's father gave $1.9 million to Super PAC

    Failed GOP presidential candidate Jon Huntsman Jr.'s billionaire father, Jon Sr., provided 70 percent of the $2.68 million collected by the Our Destiny PAC, according to a report filed Tuesday with the Federal Election Commission. NBC News National Investigative Correspondent Michael Isikoff reports.

    By Bill Dedman, msnbc.com, and Lisa Riordan Seville, NBC News

    A Super PAC supporting Jon Huntsman Jr., the former candidate in the Republican presidential primary, has filed its annual report of donors, showing that the candidate's father provided 70 percent of its support.

    Jon Huntsman Sr., who founded chemical company Huntsman Corp., gave $1,887,040 to the Our Destiny PAC in the last quarter of 2011.

    Our Destiny PAC showed 2,680,560 in receipts during 2011. Other money may have come in during the first month of 2012, not yet reported.

    Other top donors included:

    • Peter Arnott, Research Affiliates, $250,000
    • C. Boyden Gray, attorney, $50,000
    • Craig McCaw and Susan McCaw (McCaw Cellular), $75,000
    • William E. Oberndorf, SPO Partners, $50,000
    • James R. Swartz, Accel Management Co., $100,000
    • Nicholas F. Taubman, Mozart Investments, $50,000
    • Christy R. Walton, Wal-Mart heir and philanthropist, $50,000
    • Jim Walton, Wal-Mart heir and Arvest Bank chairman, $100,000

    Susan McCaw is a former U.S. ambassador to Austria. Craig McCaw is the founder of McCaw Cellular, a mobile phone company now a part of AT&T. McCaw had a net worth of about $1.6 billion as of September, according to Forbes.

    The candidate's full report is here.

    Failed GOP presidential candidate Jon Huntsman Jr.'s billionaire father, Jon Sr., provided 70 percent of the $2.68 million collected by the Our Destiny PAC, according to a report filed Tuesday with the Federal Election Commission. NBC News National Investigative Correspondent Michael Isikoff reports.

    Tuesday is the day for the so-called Super PACS to file an annual report of donors. NBC News and msnbc.com will be scouring the filings, and posting details. We'll have updates on msnbc.com, and could always use your help identifying the economic and political interests behind the names.

    The political action committees must disclose by midnight tonight who gave them money, and how much they spent to support or oppose candidates in the presidential race, including the Republican candidates and President Obama as well.

    The official deadline for filing is midnight ET (12 a.m. Wednesday), so reports may trickle in. And it wouldn't surprise us if some campaigns file late tonight as attention is focused on voting results in the Florida Republican primary.

    Super PACS are known to the Federal Election Commission as independent committees, because they are forbidden to coordinate their activities with campaigns. Outside the limits of campaign finance laws, Super PACs may raise unlimited sums of money from corporations, unions, associations and individuals. They can use that money to advocate for or against political candidates.

    Read more about the reports filed Tuesday:

    After TV cameras leave, Romney PAC discloses $18 million

    Spielberg, labor union are big backers of Obama Super PAC

    Perry PAC's $1 million donor got help with nuclear waste dump

    Major GOP Super PAC raised $51 million in 2011

    Not 'Desperate' for cash: Obama lists his big fundraisers

    Colbert Super PAC raises $1 million; non-satirical PACs to follow

    180 comments

    It must be nice to have enough spare coin to buy a Presidential Candidate.

    Show more
    Explore related topics: campaign-finance, featured, huntsman, election-2012
  • 31
    Jan
    2012
    8:45am, EST

    Colbert Super PAC raises $1 million; non-satirical PACs to follow

    Comedian Stephen Colbert sat down with Rock Center Special Correspondent Ted Koppel to talk about the influence of Super PACs in this year's election.  While joking with Koppel, Colbert also got serious, telling the backstory of how he formed his Super PAC. 

    By Bill Dedman, Investigative Reporter, NBC News

    Tuesday is the day for the so-called Super PACS to file an annual report of donors. NBC News and msnbc.com will be scouring the filings, and posting details. We'll have updates on msnbc.com, and could always use your help identifying the economic and political interests behind the names.

    TV political satirist Stephen Colbert kicked off the reporting by filing a statement showing $1 million in contributions to his group, Americans for A Better Tomorrow, Tomorrow. You can see his announcement and filing here.

    "'Yeah! How you like me now, F.E.C?" Colbert told the Federal Election Commission in a cover letter. "I'm rolling seven digits deep! I got 99 problems but a non-connected independent-expenditure only committee ain't one!''


    "We raised it on my show," Colbert told his fans, "and used it to materially influence the elections -- in full accordance with the law. It's the way our founding fathers would have wanted it, if they had founded corporations instead of just a country."

    Colbert had fun on his show Monday night with some of the bogus names of donors listed on his report: Pat Magroin, Ibin Yerkinoff, and Frumunda Mabalz.

    The political action committees must disclose by midnight tonight who gave them money, and how much they spent to support or oppose candidates in the presidential race, including the Republican candidates and President Obama as well.

    The official deadline for filing is midnight ET (12 a.m. Wednesday), so reports may trickle in. And it wouldn't surprise us if some campaigns file late tonight as attention is focused on voting results in the Florida Republican primary.

    Super PACS are known to the Federal Election Commission as independent committees, because they are forbidden to coordinate their activities with campaigns. Outside the limits of campaign finance laws, Super PACs may raise unlimited sums of money from corporations, unions, associations and individuals. They can use that money to advocate for or against political candidates.

    Read more about the reports filed Tuesday:

    After TV cameras leave, Romney PAC discloses $18 million

    Spielberg, labor union are big backers of Obama Super PAC

    Perry PAC's $1 million donor got help with nuclear waste dump

    Major GOP Super PAC raised $51 million in 2011

    Not 'Desperate' for cash: Obama lists his big fundraisers

    Sugar Daddy: Huntsman's father gave $1.9 million to Super PAC

    569 comments

    What Stephen Colbert has done is exposed how flawed the election system has become, especially at the federal level. When Corporations can be classified as people/persons we as a county have made a wrong turn. I love this quote! “As a friend of mine from Texas says, he will believe corporation …

    Show more
    Explore related topics: santorum, gingrich, campaign-finance, obama, romney, paul, featured, colbert, cain, election-2012
  • 30
    Jan
    2012
    9:07am, EST

    How do we keep candidates from lying over and over?

    By Bill Dedman, Investigative Reporter, NBC News

    Why doesn't the fact-checking come first?

    After a presidential debate, even before the debate has ended, we're able now to read fact-checks from Pulitzer Prize-winning PolitiFact and many news organizations.

    But shouldn't the candidates get their facts straight and tell the truth in the first place?

    "American politics has become a battle of talking points," said Bill Adair, editor of PolitiFact and Washington bureau chief for The Tampa Bay Times. "Once candidates find a talking point they like, they often stick with it — even when fact-checkers say it's wrong."

    Perhaps the first questions in the next presidential debate should be something along these lines...

    For Newt Gingrich:

    Former Speaker Gingrich, in debate after debate, you've taken credit for balancing four federal budgets when you were the speaker of the House. As has been pointed out repeatedly by fact-checking organizations, the four years of balanced budgets were fiscal 1998 through 2001, but you were in office for only the first two of those budgets. You left the House in January 1999 and had no role in crafting the budgets for the subsequent two years. In addition, you opposed the two tax-raising deals that were largely responsible for balancing the budget. (Fact-checks here from The New York Times and here from The Washington Post.)

    Similarly, you said that people can use food stamps "to go to Hawaii," claimed that the ethics charges against you were conducted by "a very partisan political committee," and said that "no federal official at any level is allowed to say 'Merry Christmas.'" 

    All these statements were false, according to PolitiFact.

    PolitiFact scorecard on Gingrich

    Equal-time: Questions for the other candidates are below 

    It's been nearly five years since PolitiFact and a host of similar services started debunking the most outrageous statements. In that time, have the candidates become more honest?

    "Not overall, but we've seen glimpses that they will alter their wording after we've called out a falsehood," Adair said. "For example, the way Newt said the balanced budget line in the last debate was more accurate, because he didn't say the four consecutive years were when he was speaker. So maybe he responded to the fact-checking."

    Here are specific follow-up questions for each of the current Republican candidates, as well as President Barack Obama, based on fact-checking by PolitiFact and the major newspapers:

    For Mitt Romney:
    Former Governor Romney, in every debate so far, you've said something like, "Fannie Mae and Freddie Mac were a big part of why we have the housing crisis." But studies have shown that Fannie and Freddie were late to invest in subprime mortgages, following the lead of Wall Street firms that you never mention. (Fact-check from The New York Times here and here.) The unspoken narrative in your comments, and those of the other candidates, panders inaccurately to those who want to believe that loans to unworthy minorities, driven by the Community Reinvestment Act, caused the financial crisis. In fact, most subprime loans were made by lenders who were not covered by the CRA, but who were driven by the need for profits to satisfy their Wall Street investors. Are you trying to deflect blame from Wall Street?

    Similarly, you have said repeatedly that President Obama "went around the world and apologized for America," said "I don't have lobbyists running my campaign," and claimed that President Obama's health care law "represents a government takeover of health care."

    All false, according to PolitiFact.

    PolitiFact scorecard for Romney.

    For Rick Santorum:
    Former Senator Santorum, you have repeatedly criticized Gov. Romney's health insurance program in Massachusetts for the so-called individual mandate, for requiring individuals to buy health insurance. Why not mention that in 1994, when you were running for the U.S. Senate in Pennsylvania, you supported an individual mandate.

    Similarly, you said that an Obama administration policy prohibits people who work with at-risk youth from promoting marriage as a way to avoid poverty, claimed that "a third of all the young people in America are not in America today because of abortion," and said, "Any child born prematurely, according to the president, in his own words, can be killed." 

    All false, according to PolitiFact.

    PolitiFact scorecard for Santorum.

    For Ron Paul:
    Representative Paul, you've said that the United States "is bankrupt." The country isn't unable to pay its debts, nor is it impoverished. The credit rating of the United States is AA+ at Standard & Poor's (one step below the top of a 20-step scale), and AAA at the other rating agencies.

    Similarly, you claimed that only a few sentences in your racist and conspiratorial newsletters were inflammatory, that the majority of the American people believe we should go back on the gold standard and that you never vote for legislation unless it's specifically authorized in the Constitution.

    All false, according to PolitiFact.

    PolitiFact scorecard for Paul.

    And in the general election, maybe the first question to the incumbent could start something like this:

    For Barack Obama:
    President Obama, you've said that most of the money for your campaign came from small donors, that you've excluded lobbyists from policy-making jobs, that you haven't raised taxes once.

    All false, according to PolitiFact.

    You've claimed that your opponents plan to cut funding for Israel to zero. PolitiFact rated that claim "Pants on Fire," its lowest rating.

    "One theme we've seen in Obama's statements," says PolitiFact's Bill Adair, "is that he is exaggerating how he has fulfilled promises. We know this, of course, because we keep track of all 500+ promises on our Obameter."

    PolitiFact scorecard for Obama and Obameter keeping track of his campaign policies

    Should the candidates be asked: As you prepare for a debate, is part of your preparation to remind yourself, whatever I say, I should play it straight with the American people? Aren't you embarrassed to repeat statements that any 8th-grader could look up in 20 seconds and discover have been proven untrue? Or do you calculate that it's acceptable to twist the facts to win an election?

    Readers, what do you think? What would make the candidates stick to the facts? Add your comments below. 

    Submit ideas Share your story ideas or documents with Open Channel

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    793 comments

    PolitiFact itself is unreliable. They find facts, then subjectively skew the results in their ratings. The word "fact" is not the botom line. Their name should be politifactopinion. Reporting facts and arbitrating facts with assumed superiority may not be political, but is arrogant because facts sho …

    Show more
    Explore related topics: santorum, gingrich, obama, romney, paul, featured, election-2012
  • 26
    Jan
    2012
    4:49pm, EST

    No, President Obama isn't actually proposing to cut defense spending

    A lot of rhetoric is being thrown about in discussing the Pentagon budget. Reporter R. Jeffrey Smith from the Center for Public Integrity takes a look at what's actually been proposed by President Obama, in his explainer, "Puncturing the hot air balloons on defense spending: A reader's guide to the debate in 2012." The Center for Public Integrity is a nonprofit, nonpartisan investigative reporting group in Washington.

    Smith's takeaway summary:

    Obama’s national security spending plan does not cut the defense budget. Even if his proposal is enacted, U.S. defense spending will continue to dwarf the rest of the world’s. The new U.S. military strategy was concocted to accommodate the proposed budget trims, not vice versa. Sequestration is a threat, not a promise. And no matter what politicians say or do this year, U.S. defense spending will remain vulnerable to real cuts. The important question in the years ahead is, which military programs will survive and which will go away.

    Read the full story here from the Center for Public Integrity.

    83 comments

    Panetta and the generals say there is a 13% cut in military spending. A far left think tank says it isn't. I'll go with Panetta and the generals. More bullshiite we've come to expect from MessNBC and Obama.

    Show more
    Explore related topics: defense, military, obama, featured, election-2012
  • 23
    Jan
    2012
    8:24pm, EST

    Gingrich contract with Freddie Mac leaves questions unanswered

    By Michael Isikoff, NBC News

    The consulting firm founded by Newt Gingrich on Monday night released a copy of its 2006 contract with Freddie Mac showing it was paid $300,000 to provide unspecified "consulting and related services" for one of the federally sponsored housing agency's top lobbyists.

    The contract between the Center for Health Transformation, an arm of the Gingrich Group, and Freddie Mac shows that Gingrich reported directly to  to Craig Thomas, who at the time served as the agency’s director of public policy and was one of its registered lobbyists on Capitol Hill. 

    But a spokeswoman for the firm said it was unable to find an earlier contract dating to 1999 and renewed until 2002. The spokeswoman, Susan Meyers, also could not say whether Gingrich or any of its employees produced any written reports for Freddie Mac as part of the nearly $1.8 million in consulting fees it was paid.  

    "I have no idea if there were any written reports," she said. "This is all we are authorized to release."


    The 15-page contract, signed with a Gingrich Group executive, sheds little light on what Gingrich actually did for Freddie Mac -- a question that has become an issue in the presidential campaign. It states only that the Gingrich Group will that provide unspecified consulting services for Thomas.

     

    One of the provisions states that consulting "will provide status reports" to Freddie Mac on its work and supply it with copies "of any disclosures or reports it may be required to file by law, such as reports filed under the Lobbying Disclosure Act."

    Gingrich, who originally said he provided advice "as a historian," has adamantly denied he did any lobbying for Freddie Mac, an assertion repeated by Nancy Desmond, the CEO of the Center for Health Transformation.

    “As noted under the scope of work section on Page 14, the contract was solely for consulting purposes and not lobbying," she said in a statement posted along with the contract on the group's website.

    According to Meyers, the firm originally signed a contract with Freddie Mac in late 1999 for the same  $25,000 a month, which  was renewed until 2002. The firm was unable to locate that document and the renewals, she said. After lapsing, the Freddie Mac consulting agreement was signed again in 2006 and was renewed in 2007.

    All Freddie Mac reports are now controlled by the Federal Housing Finance Agency. The agency did not respond to requests for comment Monday. It recently rejected a Freedom of Information Act request filed by Judicial Watch, a conservative watchdog group, for any and all records that Freddie Mac may have had on the Gingrich Group, stating in a Dec. 6, 2011 letter: "A search of FHFA records located no documents responsive to your request."

    287 comments

    How much of taxpayer money did Freddie Mac get in the bailout? So Newt got some of your taxpayer bailout! Obama 2012

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    Explore related topics: freddie-mac, gop, presidential-race, featured, newt-gingrich, election-2012
  • 19
    Jan
    2012
    6:05am, EST

    More scrutiny for Romney: Overseeing Marriott during years of kickback charges

    Slideshow: Mitt Romney's life in politics

    Jonathan Ernst / Getty Images

    From governor's son to presidential contender, a look at the life of Republican Mitt Romney.

    Launch slideshow

    Mitt Romney's service on the board of Marriott International has come under scrutiny in a story published Thursday by 100Reporters, a new investigative reporting group.

    Business reporter Lucy Komisar reports:

    Mitt Romney, who makes his hands-on business experience a talking point in his campaign for the Republican presidential nomination, was a member of the board of directors and audit committee of a global company when it paid millions of dollars to settle charges of extracting kickbacks that cheated clients.

    As a board member, Romney held oversight responsibilities at a time when Marriott was repeatedly accused of obtaining secret rebates that enriched Marriott, at the expense of hotel owners who had contracted with Marriott to run the hotels on their behalf. A series of owners also accused Marriott of falsifying financial statements to owners to conceal the arrangements—charges that Marriott had denied.


    Should a director bear responsibility for actions by a company's management?

    Here's how Komisar deals with that question, along with background on ties between Romney and the Marriott family:

    To be sure, Romney’s was only one voice of ten on the board. What he may have said privately at board meetings or to Marriott executives about the secret rebates and the risk to shareholders and the company is not known. What is known is that during his tenure the company continued a practice that had come under severe reprimand by the courts, and there is no record that Romney ever denounced or criticized the practice.

    In addition, the company failed to disclose the mounting disputes to the Securities and Exchange Commission despite the risk they represented to the company’s stock price, and did so only after they culminated in public lawsuits.

    With law and business degrees from Harvard University, Romney was well-schooled in understanding the legal and business risks to the company from theses charges. Romney was one of the designated “independent,” members of the Marriott board, which meant that neither he nor his family were to have financial ties to the company. Indeed, no Romney had been an employee of Marriott or the company’s auditor.

    On personal and political levels, however, bonds between the Romney and Marriott families run deep. The company founder J. Willard Marriott was close to Romney's father George. Both families are important in the Mormon Church. Romney was named Willard (the W. in his name), in Marriott's honor.

    In 1994 the Marriott family gave hundreds of thousands of dollars to Romney's campaign for the U.S. Senate. In 2008, CEO J. Willard "Bill" Marriott, the founder's son, was national finance co-chair of Romney’s campaign for the Republican presidential nomination. Bill Marriott has so far donated $500,000 to Romney’s current campaign through the pro-Romney "super PAC," Restore Our Future, while his brother, Richard Marriott, has given the same.

    The Romney campaign did not respond to questions about his service at Marriott.

    The reporter, Lucy Komisar, is an experienced investigative journalist focusing on corporate corruption.

    Read her full story at 100r.org.

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    316 comments

    Drip. Drip. Drip. He's not the one.

    Show more
    Explore related topics: romney, featured, election-2012, 100reporters
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