June 18, 2008
Posted: June 18th, 2008 10:00 AM ET

From

(CNN) – The upcoming Republican and Democratic nominating conventions are being funded by more than $100 million in contributions from corporations who also spend substantial sums lobbying the federal government, according to a new study by the Campaign Finance Institute released Wednesday.

Roughly $55 million in private financing is being provided to support the Democratic convention in Denver, and $57 million for the Republican convention in Minneapolis-St. Paul. The organizational donors behind that convention funding have donated another $100 million to federal candidates and parties since 2005 and spent a total of $721.3 million lobbying the federal government during the same period, according to the institute’s analysis.

The institute’s report comes shortly after presumptive Democratic nominee Barack Obama prohibited the Democratic National Committee from accepting contributions from lobbyists or political action committees, to bring its fund-raising practices in line with those of his presidential campaign. Presumptive Republican nominee John McCain spearheaded legislation which banned unregulated “soft money” from federal campaign donations — but the new regulations did not include a soft money ban on funding for nominating conventions.

The Campaign Finance Institute is affiliated with George Washington University. The analysis released by the institute Tuesday included data provided by the Center for Responsive Politics.

Filed under: Democratic National Convention • Republican National Convention


Come 2gether   June 18th, 2008 2:59 pm ET

"""COME TOGETHER DEMOCRATES""""

Proud American   June 18th, 2008 2:59 pm ET

This problem is deep rooted. It will take 10 years and 100 Obamas to even out the playing field. But its gotta start somewhere with 1 person.

Ralph   June 18th, 2008 2:56 pm ET

Interesting, insn't it. The contributions are mostly corporate and the RNC raised more than the DNC by 2 million, but Obama has raised more money from the voters than McCain by many tens of millions. This means big business wants McCain and the people want Obama. This one should be a no brainer – unless you make 100 million a year as a CEO, or you enjoy being screwed.

Peter E   June 18th, 2008 2:49 pm ET

Obama outraised and outspent all previous campaigns in history. CNN continues to report McCain having 'troubles' raising money. (despite him having raised more than Bush's original campaign in 2000 up to the same period) And still Obama is barely ahead in national polls? You know why? Because Obama's message of Hillary-hating will not carry onto McCain. And while he's trying to buy this election he has yet to come up with an actual coherent stance on issues instead of his usual flip-flopping. One day he criticizes his opponent for a policy, the next day he copies it and advocates it as if it was his original idea.
There is only one consistent message Obama has demonstrated so far: 'yes, we can outspend everyone else.' We already have a president who outspent his predecessors. We don't need another!

Independent for Obama   June 18th, 2008 2:43 pm ET

Peter E –

"His acceptance of hundreds of thousands of dollars from oil companies is well known and documented" – ????

Since companies can't give to a presdential campaign, what you are saying is "people who are employed in some way by an oil company gave Obama money." I work for a law firm, and I gave Obama money – does that mean that law firms own Obama?

I question why I even bother to write to explain this to you, since it is clear that you aren't relying on logic to come to your conclusions...

Peter E   June 18th, 2008 2:42 pm ET

You want real change? You want to actually take money out of politics? Then stop sending your own money to these corrupt repucrats and demopublicans!
For all the talk about changing politics, Obama's real message is 'yes, I can play the old system to the extreme by raising even more money and spending like there is no tomorrow. I will buy this election!' And money he will need. He had to outspend Hillary two-to-one because apparently Hillary was not really all that 'unelectable' and his message of Hillary-hating alienated more voters than he gained by it.
McCain secured his own party's nomination at one-tenth the cost of Obama's primary campaign. And he didn't need Hillary-hate as a message.

Conservative for McCain   June 18th, 2008 2:39 pm ET

That says it all smart businesses are for Republicans....... I think th ecompany that makes well fare cheese has sponsored th edem convention.

HAHAHA

Peter E   June 18th, 2008 2:16 pm ET

This is a perfect demonstration of the 'change' you can expect from Obama... he'll talk tough, badmouth lobbyists, 'prohibit' his party from doing things, but at the end of the day he'll just let people continue doing what they want to do. And who can blame him... he needs those old democrats to support him, so he'll pretty much has to be their puppet to get their endorsements and their money.
Politics as usual.
Reality check people! Or did you think that just by talking tough and shouting a few stump speeches and parroting catchphrases one can change the system? Obama couldn't have done that without making all those concessions in the first place! The system owns him. And if you believe otherwise you're either blind or lying to yourself!

The Bush Twins : George and John   June 18th, 2008 2:16 pm ET

This doesn't surprise me one bit. Next item please.

BILL   June 18th, 2008 2:15 pm ET

Joe Regis June 18th, 2008 1:49 pm ET

The Republicans are for big businesses.

CCCCCCCCCCCCCCCCCCCCCCCCCCCCC

Both the GOP and DNC take money from "corporations who also spend substantial sums lobbying the federal government, according to a new study by the Campaign Finance Institute released Wednesday" not just the GOP.

Obama = 2nd Carter term. Obama said he was willing to negotiate with those enemies directly and "without precondition" that sound like Carter. This is why I say Carter’s 2nd term. Would he have done this with Hitler in 1940? Would you? I see many 3rd Bush/McBush terms and no one questions it. I had added why I think the 2nd Carter term after being asked about it. Obama backers claim to be open minded and yet some bag on views different than the one they have. I am not against Obama b/c of lack of experience. That is a non-issue IMO. I am against him for his views and lack of them.

Capt. Smash, Salt Lake City, Utah   June 18th, 2008 2:10 pm ET

Big Oil should give every American a 200.00 gas card, for all there crimes.

MONEY MONEY!!   June 18th, 2008 2:10 pm ET

Nothing new..........NEXT !!!!

IAMWMD   June 18th, 2008 2:08 pm ET

After all the recent news regarding Bush and McSame trying to convince Congress to open up the shores for drilling it's no secret which type of big businesses that will be financing the GOP aka the Gas and Oil Party.

Chevron, BP, Citgo, Marathon, Shell are just a few that will be using their record profits to finace the Gas and Oil Party

Obama 08

JR   June 18th, 2008 2:06 pm ET

What I also found was Denver was hosting each delegation of course and each delegation had a "Welcoming Venue" in various locations in the city. I thought that was a nice touch to get people interested in coming back to visit Denver, and spreading the tourist dollar around the city. The venues were places like the zoo, various museums, etc.

Peter E   June 18th, 2008 2:04 pm ET

Just shows you that no matter what Obama says, his own party will walk all over him. (not that Obama's hands are clean when it comes to financing and lobbyists)
If he's elected, he'll be the weakest president in decades! Sure he may talk tough, but just consider all the hatred and negative personal attacks his supporters lay on his opponents, demonstrating that none of them listened to his 'positive' message of 'hope' and 'change.'
Why do you think all the democratic party heads are ligning up for him? Do you honestly believe it's because they themselves want to change and want to be told by a junior senator what to do? Of course not! They are supporting him because they expect him to do their bidding. Or were you so naive as to believe that whole nonsense about 'change?'

JR   June 18th, 2008 2:03 pm ET

Yes, I called to see if I could sell my product to the DNC, but they told me that I had to donate money in order to get my product in the gift bag. I don't have a problem with that, and I have donated money, except I don't have the kind of money that matches the large corporations that probably have their products in the gift bag.

I think this is more for the DNC, than Barack himself. He had no means of changing the DNC's rules before he became the nominee.

Farrell, Houston, Tx   June 18th, 2008 1:56 pm ET

What about the lawsuit the DNC has against John McCain regarding his campaign funds that he agreed to, what happened to that story?

William, from Cali!   June 18th, 2008 1:55 pm ET

Tell me something; that I didn't know..................................Corparations are the "fuel" that drives the "political process" in this Country...........been like that for ages. What's new? Nothing!....................Same players; Different games that they are playing.......................

Kenneth of Minneapolis (KW)   June 18th, 2008 1:51 pm ET

Politics as usual: The bigger the check, the bigger the favor in return.

Anita from Arizona   June 18th, 2008 1:51 pm ET

DUH!!

Joe Regis   June 18th, 2008 1:49 pm ET

The Republicans are for big businesses.

They are going downhill this year.

Deficits, wars, no more.

tic toc   June 18th, 2008 1:46 pm ET

This is why we should call it the Pendulum Party.One runs up the bill on the creditcard and the other one pays the bill.And the people get the shaft.They wont let a third party dare compete.ITS A MONOPOLY, AND WE KNOW WHAT THEY DO BEST, DONT WE.

J.C.   June 18th, 2008 1:41 pm ET

corporations will expect returns on each dime of their investments.

Peter E   June 18th, 2008 1:38 pm ET

"Barack Obama prohibited the Democratic National Committee from accepting contributions from lobbyists or political action committees, to bring its fund-raising practices in line with those of his presidential campaign."
They are in line with his presidential campaign... in that they both badmouth lobbyists and yet continue accepting money from them. (or were you so naive to believe his message of 'change?' His acceptance of hundreds of thousands of dollars from oil companies is well known and documented, see the Newsweek article on the subject) And let me not even get started on the underhanded tactics Obama employs using the 'independent' political action committees to do all his dirty work for him...

Jim   June 18th, 2008 1:35 pm ET

Meh, w/e, Obama has made it clear he won't listen to the lobbiests or owe them anything, if they wanna continue giving us money, hey more power to em, but no deals or favors are owed to them if Obama become's president, he's made that clear, and he's also shown what a powerhouse fundraiser he is for the people and not lobbiests so the dems have no worries if the lobbiests stop funding them, I'm still ready to donate as soon as they direct me to the website, I'll donate to the democratic party.

Marshall   June 18th, 2008 1:33 pm ET

Who is surprised by this?

Vote Nader   June 18th, 2008 1:32 pm ET

Why am I not shocked by this news?

** Nader/Gonzalez 2008 **

obamabot   June 18th, 2008 1:31 pm ET

good ,they need to pay for something.corp.s have gotten wealthy,selling our jobs overseas.

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