Sheldon Adelson "Bets" $10 million on Romney.

You might remember Sheldon Adelson as the billionaire who bankrolled Newt Gingrich's campaign. Obviously that did not work out. So Adelson has made a new "bet" by passing ten million dollars to Mitt Romney's campaign.

Wait a minute, you say? It's not legal for a single individual to contribute that much cash to a presidential campaign? Oh well, I left out the fact that Adelson is technically not donating to Romney- no, he is donating to Romney's SuperPac, which is called "Restore our Future."

It's not much money for Adelson, who is worth 24 billion- so don't be surprised if the Romney SuperPac goes back to the well for several more buckets of "water." It would not surprise me if Adelson ends up passing 50 mill or even a hundred mill to Romney's cause before we reach election day.

John McCain was very uncomfortable with this:

http://politicalticker.blogs.cnn.com/2012/06/15/mccain-slams-adelsons-foreign-money/

I don't want to defend Adelson, but I'm not sure I get that bit about it being "foreign money." Even if Adelson made some money in Macau from his casino there, it's not money from the Chinese government, it's just gambling money squeezed from Chinese citizens. In the bigger picture, however, John McCain being depressed because his campaign finance law has been disemboweled by the Supreme Court decision which equates corporations with human beings, well, I share your pain John.

Actually, the fact that Adelson made some of his money in Casino gambling is sort of entertaining to me. Because Romney's plan to jump start the economy by letting rich people keep their tax money resembles a Gamble more than it resembles Restoring our Future. I'm sure it will restore Adelson's future! If those tax cuts get enacted, he would probably end up keeping enough of his future income out of the hands of the Taxman to make up for all he is spending on the 2012 election campaign. :)

Comments: 16

David K. Jun 15, 2012, 1:59pm UTC

Adelson, the Koch brothers, and a handful of other super-rich are trying to buy the election for Romney (who by these billionaires standards is the poor-boy of the block, though in all fairness Romney made his "only $21 million" last year while being, as he put it, "unemployed"). All because the Supreme Court's rather Orwellian named Citizens United decision allows unlimited funding of secret Super-PACs.

This graphic sums it up nicely.

Consider that the Koch's have pledged $400 million towards the election - more than John McCain's entire fundraising for the 2008 election...from everyone!

Larry M. Jun 15, 2012, 3:16pm UTC

Did I say that big money rules?

David K. Jun 15, 2012, 9:02pm UTC

And you are right, Larry. Especially since Citizens United made it possible for Mitt Romney to say "corporations are people too" without getting laughed into oblivion.

jeanne clarke Jun 16, 2012, 3:58pm UTC

Corporations are every bit as human as Mittens...

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Margaret Garside Jun 15, 2012, 4:21pm UTC

Can someone explain how you 'restore the future'? That sounds funny to me.

We MUST get all that money out of our elections.

Chris Wiegard Jun 15, 2012, 6:45pm UTC

:) you can't restore the future, the damn future does not exist yet. Romney and his homeys have been watching too many science fiction flicks.

David K. Jun 15, 2012, 9:04pm UTC

Basically he is saying that he would go back to the old ways, i.e., Bush policies. And we saw how well that worked out.

The title of this article says it all: Yes, Romney's Vision for America Really Is That Scary

Margaret Garside Jun 16, 2012, 3:51pm UTC

It's one of those slogans that sound good until you stop and think about what it actually says, which is nothing.

Kinda like Romney himself.

jeanne clarke Jun 16, 2012, 3:59pm UTC

But time and again people buy it. And then go back and purchase more. And then whine when they are unemployed and broke. And the rich get to keep their money.

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Jim G. Jun 15, 2012, 6:21pm UTC

The Citizens United decision has the potential to destroy representative government as we know it, with disasterous results.

Chris Wiegard Jun 15, 2012, 6:46pm UTC

Obama is looking at having less money than the Romney/Superpac combination. He can get a million $50 donations, but Romney can do better than that just by taking in 6 $10 million donations.

Jim G. Jun 15, 2012, 6:59pm UTC

Nov. will decide whether we still have a democracy or an oligarchy, Chris. I'm not overly confident as to which will survive.

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Ed B. Jun 15, 2012, 9:19pm UTC

Ralph Nader was convinced that after 4 years of GWB, Americans would realize they had screwed up and change the direction of the country. Boy was he wrong. I hope we get another chance to turn things around before it gets ugly, the founding fathers would be outraged to see the unchecked power in the hands of a few and their dreams turned sour. Three arms of government to check and balance each other are meaningless if they are all 3 bought and paid for. And with all the misdirection and obfuscation, people end up voting against their interests because the sales pitch was well played.

Margaret Garside Jun 16, 2012, 3:53pm UTC

Sometimes it's enough to make you think about cutting your throat. I don't know why people keep voting for candidates/policies that will harm them.

jeanne clarke Jun 16, 2012, 4:01pm UTC

Perhaps people are afraid of doing well - living comfortably. I'm serious. It may be too much for the middle and lower middle class on down to handle. It's like a self defeating attitude. And self defeating actions. The majority of folks have erred time and again - and each time complain like mad - and each time vote the same way.

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Ed B. Jun 16, 2012, 9:21pm UTC

People vote for what we want to be true rather than what is true. We decide emotionally, then maybe throw together a bit of logic to show justification for our views, convinced of the rightness of our position despite a lack of supporting data. Those that deny our inherent fallibility are all the more easily manipulated.

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Sheldon Adelson "Bets" $10 million on Romney.

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