Our Sunlight Foundation colleague, Lee Drutman, has written elsewhere about the amount of dark money -- political donations that come without donors attached -- flowing into this year's campaign. But what about the conduits? As the Senate debates the DISCLOSE Act this week, a measure that would take modest steps towards adding a little transparency back into the campaign finance system, it's worth taking a look at the entities that are taking advantage of the loopholes that allow them to avoid disclosing -- sometimes just donors, sometimes just about everything.
The groups run the gamut from long established organizations with a ...
Continue readingFollowing the Chamber of Commerce down the campaign finance rabbit hole
A New York Times report that New York’s Attorney General Eric Schneiderman is subpoenaing records of tax-exempt groups involved in politics underscores the difficulty of tracking campaign spending to its source following the 2010 Citizens United decision, a ruling that the Supreme Court reaffirmed this week.
According to the Times story, Schneiderman is seeking emails and bank records to determine the legality of financial transactions made between the National Chamber Foundation and one of its donors, the Starr Foundation, and the U.S. Chamber of Commerce. The business trade association received $18 million from the Chamber Foundation in 2003 ...
Continue readingBig financial interests chip away at Dodd Frank regulations
Today the House plans to take up two industry-backed bills dealing with derivatives, the hitherto opaque financial instruments so crucial to the 2008 meltdown, under a procedure usually reserved for noncontroversial matters.
A coalition of labor and consumer groups, Americans for Financial Reform (AFR), believes the bills, which have bipartisan support, should be controversial and is urging lawmakers to oppose them. "Both proposed bills are unnecessary and potentially harmful attempts to micromanage the work of regulators in implementing the Dodd-Frank Act," the groups argued. "They amplify the views of the regulated industries which already have overwhelmingly greater resources to intervene ...
Continue readingHealth care lobbying groups head to the Supreme Court
If war is politics by other means, so is litigation. While there will be plenty of rhetoric today about President Obama's health care law on the second anniversary of its signing -- including a new op-ed by Republican presidential candidate Mitt Romney, who was for the health care reform in Massachusetts before he was against it nationally -- the big battle begins Monday, when the Supreme Court opens an unusual three days of argument over the constitutionality of the Patient Protection and Affordable Care Act.
In many respects, the mega-case -- a compilation of six separate cases that have been wending through ...
Continue readingSunlight Live to cover the hidden influence in Obama jobs address
This Thursday at 7 p.m. President Barack Obama is set to address Congress and the nation when he’ll unveil his latest plan to create jobs. Already, a preview of the speech shows proposals consistent with the positions of influential groups like the U.S. Chamber of Commerce and the AFL-CIO. Both groups have spent millions to influence elections and policies. With that in mind, the Sunlight Foundation will cover the speech with live video, data and commentary at sunlightlive.com.
Some of the glimpses into Obama's plan were provided by the president himself during a Labor Day ...
Continue readingPreempting Sunlight
House Republicans, and more than a few Democrats, have taken a series of votes to kill a proposed executive order... View Article
Continue readingYes, but will Bayh register?
The Center for Public Integrity’s iWatchNews reports that former Sen. Evan Bayh, D-Ind., has a new gig working for the... View Article
Continue readingFreshman lawmaker works to repeal transparency effort in Dodd-Frank
Last week members of the Capital Markets Subcommittee forwarded legislation to repeal a portion of Dodd-Frank that requires big banks to disclose income information for all of its employees onto the full Committee on Financial Services for consideration.
The Burdensome Data Collection Relief Act, H.R. 1062 was introduced in March, 2011 and has a long way to go. But if the Act passes it will repeal Section 953 b of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which is meant to increase transparency by forcing banks to disclose the median income for its employees.
According to members ...
Continue readingDraft Executive Order On Outside Spending Disclosure Would Have Sweeping Reach
During the 2010 midterm election David and Charles Koch, owners of the massive energy conglomerate Koch Industries, became the face... View Article
Continue readingChamber of Commerce meets with CFTC chairman
Yesterday a lobbyist and executives representing the U.S. Chamber of Commerce, which has criticized the whistleblower provisions in the Dodd-Frank financial law, met with Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission (CFTC), to discuss the issue.
Under the new law, the CFTC is given the authority to award whistleblowers 10 to 30 percent of the amount recovered when information they provide leads to an enforcement action yielding sanctions of $1 million or more. They can also file for relief if they face retaliation for their disclosures.
"Put simply, the proposed rule creates a set of ...
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