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Bank Of America And Billionaires Funded Republican & Democratic Conventions

by on Thursday, October 18, 2012 at 5:05 pm EDT in Election 2012, Politics, one of the best sites for tracking money in politics, just tallied up the major funders of the Republican and Democratic national conventions, and their findings are revealing.

No surprises with the Republicans — the ones they are beholden to for having funded their extravaganza are mostly billionaires and huge corporations.

The biggest revelations came from the Democratic Party tally. As some anticipated, unions came up short for Obama’s Convention this year. Having shelled out $8.3 million in 2008, they gave nearly 30% less. 

But not to worry, Obama had taken care of one moneyed interest group who was all too happy to step up. Bank of America practically self-funded the event, underwriting approximately 1/3 of its entire expense. And just to be sure they covered their bases, Bank of America also tossed the GOP $1.1 million for theirs in Tampa. 

This may provide a clue as to why bankers, whose fraudulent activities brought down the entire world economy, still seem to enjoy an unspoken immunity from any criminal prosecutions.

Small donors, incidentally, contributed a mere .00002% — not joking — of the RNC’s funds. And only 6 people — you read that right — donated between $200 and $500. Hands-down, the RNC is an event entirely funded by the wealthiest few individuals and corporations in the nation.

The Democratic Party did better with small donors, as they provided 2.5% of the DNC’s funds. And they did much better with donors contributing between $200 and $500: 1,558 contributed. Though the Democrats are still lopsidedly dependent on influence-peddlers, when compared to the Republicans’ donor list they might actually tout these numbers.

Money Behind The Two Parties’ Parties

The Republican Party, which held its 2012 convention in Tampa, FL, raised $55.8 Million. The following were some key contributors:

  • Sheldon Adelson (Las Vegas casino mogul, fanatically pro-Israel) : $5 million (9% of total)
  • Bill Edwards (CEO of Mortgage Investor’s Corp.): $4.6 million (8.24%)
  • AT&T (in addition to $3M, gave in-kind donations for phone service): $3 million (5.4%)
  • American Petroleum Institute: $2 million (3.6%)
  • Microsoft: $1.6 million (2.9%)
  • Bank of America: $1.1 million (2%)
  • David Koch (billioinaire Koch brother): $1 million (1.8%)
  • Paul Singer (Elliott Management): $1 million (1.8%)
  • Robert Mercer (of hedge fund, Renaissance Technologies): $1 million (1.8%)
  • Paulson & Company (hedge fund run by John Paulson): $1 million (1.8%)
  • James S. Davis (chairman of shoe company New Balance): $1 million (1.8%)
  • Florida Power and Light: $1 million (1.8%)
  • United Health Care Services: $522,000 
  • American Indian tribes (2 tribes contributed): $450,000
  • America’s Natural Gas Alliance: $400,000
  • New York Yankees: $150,000
  • Small donors (Total unitemized contributions of $200 or less): $1,200 (.00002%)
  • Number of donors giving between $200-$500: Six donors

The Democratic Party, which held its convention in Charlotte, NC, raised $35 Million. The following were some key contributors:

  • Bank of America$10.9 million (31.14% of total)
  • Unions: $5.9 million (17%)
  • Duke Energy (lobbied H.R.910 to keep EPA from regulating emissions of green house gases): $1.5 million (4.3%)
  • American Indian tribes (4 tribes contributed): $400,000 
  • James Rogers (Duke Energy CEO): $339,000
  • Tides Foundation (partially funded by Soros’ Open Society Institute) : $310,000
  • Small donors (Total unitemized contributions of $200 or less): $866,000 (2.5%)
  • Number of donors giving between $200-$500: 1,558 donors

WATCH: Max Blumenthal Discusses Israel And The American Elections

by on Friday, February 3, 2012 at 2:02 pm EDT in Election 2012, Middle East, Politics, World

Max Blumenthal discusses the significant roles several key right-wing, pro-Israel political donors have played, and continue to play, in American elections:

On Haim Saban:

He got rich with this show Mighty Morphin Power Rangers, and now he has established an entire, you know, wing within the establishment, the major establishment think tank in Washington, Brookings Institute.

He funded the construction of the Democratic National Committee’s headquarters.

He was the largest individual donor to President Bill Clinton and came forward to support Clinton’s campaign during the impeachment crisis. He was the largest individual donor, I think, to President Barack Obama’s campaign. And Haim Saban says he’s also a donor to the Israeli army. Every year he gives millions of dollars to the Friends of the IDF. And Saban has said, I’m a single issue guy; my issue is Israel. He is funding the Democratic Party to make sure that the Democratic Party remains in the pro-Israel camp. 

On Sheldon Adelson:

He’s sort of just like the Jewish Donald Trump. He got into Israel after he broke up with his first wife. He had a divorce, and he decided that he wanted to meet Israeli women. And he’s sort of a hovercraft elite who can go around the world and pretty much get whatever he wants. So he went to Israel and met a woman who is extremely right-wing, became his wife, and she’s pumping money into Gingrich’s campaign. And now Adelson has said, according to Gingrich, that his life’s mission is supporting Israel. And he’s one of the key donors to the Republican Party, as well as to the Israel lobby.


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