Given a loophole in the law, Super Pacs were able to delay reporting their donors until after several important primaries (technically during Florida, but no one was paying attention). So we finallyÂ found out whoÂ donated big moneyÂ to these new political organizations that can collect unlimited sums from the wealthy, corporations, and unions.Â To meÂ it is deeply concerning because the major contributors wereÂ billionaires on theÂ republican sideÂ who have a lot to gainÂ from the election of their chosen candidate.Â The problem: Payback time might hurt us all.
Look at the amount raised by Crossroads and Mitt Romney's Super Pac, and then look at theÂ donors behind them.Â You'll see oil and gas executives, land developers, hedge fund execs, and chemical company execs as the major players.Â Â These individuals have a lot to gain by any loosening of environmental regulations, reductions in business regulation, and/or lessened oversight of their industries.Â One majorÂ GOP Super Pac contributor is almost famous for his ability to get controversial permits inÂ Texas to bury nuclear waste after donating a ton locally for example.Â Â
If the candidate is elected and the massive amount of money these Super PacsÂ raised clearly helped, isn't it obvious that there will be pressure to pay back these groups with favorable legislation?Â After all, the elected official will need thatÂ moneyÂ againÂ for reelection...
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