Companies Shift More Donations to Democrats

[RiverStone]

Source: The Wall Street Journal

WASHINGTON -- For the new Democratic bosses in the House, power has quickly translated into money, as many big companies have shifted more of their campaign contributions to the new congressional majority, and away from longtime Republican allies.

The top four House leaders -- Speaker Nancy Pelosi of California, Majority Whip Steny Hoyer of Maryland and their main lieutenants -- raised a combined $2.24 million in the first quarter of 2007, according to filings with the Federal Election Commission. That was more than three times as much as the $697,694 they raised in the first quarter of 2005, the comparable period in the previous two-year election cycle.

With 19 months to go until the 2008 election, Democratic committee chairmen have also seen their campaign coffers swell. For Ways and Means Chairman Charles Rangel of New York, contributions surged to $761,000 in the first quarter of 2007 from $57,000 two years earlier. Sharp increases were also reported for Energy and Commerce Chairman John Dingell -- $376,000, up from $112,000; Financial Services Chairman Barney Frank of Massachusetts -- $217,000, up from $39,000; and House Armed Services Chairman Ike Skelton -- $227,000, up from $57,000.

Some of the new money came from companies with a stake in the committees' agendas. The political action committee of Allstate Insurance Co., a unit of Allstate Corp., gave $1,000 to Mr. Frank's campaign this year, after bypassing him completely in the previous election cycle. Defense contractor Armor Holdings Inc.'s PAC, which didn't give to Mr. Skelton at all in 2005-06, donated $2,000 to his re-election campaign earlier this year.



Read more: http://online.wsj.com/public/article/SB117790069010286617-7bw4ru_pIMUkOIryd0rqqhTe_1U_20080429.html?mod=blogs

---

Looks like the tail is always going to wag the dog when it comes to corporate interests and politics. Money is always a good thing when it comes to winning elections; being a puppet to corporations that give the most cash is not. I'd like to believe while it is great the DEMS are getting the lion's share this go around, we can still hope that the special interests of corporations will not dictate policy above the wishes of We The People.

[acmavm]

1. This is hitting the republican party right where it hurts. This is

a very big and important change in the political landscape.

[Kolesar]

2. Gov candidate Strickland started getting *bunches* of corporate cash...

...when it became apparent that he was going to beat that freak Kenneth Blackwell that the Ohio GOP nominated to run for Ohio Governor. Don't want to piss off the Big Dog.

[maxrandb]

3. If Dems want to secure the majority for the next 100 years

they should take this "windfall", every last dime of it, and donate it to build a Veterans Center that specializes in the treatment of brain injuries and PTSD.

It's a "two-fer". Not only do you piss off the Repugs by taking bribes out of their hands, you twist in the knife by donating it to a progressive cause.

I know I'm dreaming if I think that would ever happen, but I'm also not gleeful that the corporations just go from buying one type of politician, to buying another.

[CANDO]

4. And it sets the stage for the Democratic Party to sell out the middle class once again.

The almighty campaign dollar, that's what it's all about. To be sure, I like us being in the majority. But I hope these fat cat Democrats stand upon principles they supposedly espouse, and not cave to the interests of their contributors.

[Auggie]

5. One can almost see the corruption pendulum swinging from right to left

[noel adamson]

6. Agreed, (or a greed)... What exactly do these companies expect

for their dollar? Hard to believe they have suddenly been swept up in a wave of altruism or democracy fever. It is time to transcend the false dichotomy presented to us by our corporate controllers that has had such a stranglehold for so long. I think it is not too far out to say that the survival of the human race is in jeopardy and that our social/political framework must catch up with our technological advancement and population growth rather than revert to the feudalism that the corporate elite and their religious throwback peasants so love.

[Kolesar]

7. Hey that's pretty good!

:hi: