Does big money spell big trouble in campaigns?
July 18th, 2012
03:19 PM ET
2 years ago

Does big money spell big trouble in campaigns?

(CNN) - When Senate Majority Leader Harry Reid, D-Nevada, pronounced this week that "17 angry old white men will wake up and realize they've just bought the country," after the elections, he echoed the distaste many Americans feel at the secrecy surrounding the flood of money pouring into campaigns.

Political experts estimate $6 billion will be spent during the 2012 presidential elections - a large chunk of it via anonymous donors thanks to a Supreme Court ruling which allows unlimited corporate campaign donations. That's enough money to give 6/7ths of the world's population $1 each. Politicos and even comedians have made much ado about the influence of anonymous super rich donors and well heeled super PACs, groups that can raise money from a number of sources and spend unlimited amounts independent of and in support of political campaigns.

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Filed under: Fundraising
soundoff (15 Responses)
  1. Sniffit

    "Does big money spell big trouble in campaigns?"

    Does the Pope wear a funny hat? Do bears pewp in the woodz? Is Mittens hiding something in his tax returns from the past decade? Are stupid freekin questions that everyone knows the answer to what passes as contemporary "journalism"? These stories and more, tonight at 11.

    July 18, 2012 03:21 pm at 3:21 pm |
  2. Wire Palladin, S. F.

    Mittens stole Florida from Santorum. Paul and Newt for only $15 million in negative ads.

    July 18, 2012 03:23 pm at 3:23 pm |
  3. Wire Palladin, S. F.

    I am looking forward to Mittens' explanation of why he paid no federal taxes.

    July 18, 2012 03:24 pm at 3:24 pm |
  4. Obama 2012 - MOVE Forward America, NOT another round of DUBYA's FAILURES

    Once again we can thank the 5-4 SCOTUS for bringing yet another death knell upon us. Much like they precipitated the worst 8 years of Presidential history in 2000, they have done it again with Super PAC's.

    Of course it brings trouble... folks from outside the US are buying our elections. We will get what the SCOTUS so deservedly gave us... PLUTOCRACY !

    July 18, 2012 03:36 pm at 3:36 pm |
  5. Dominican mama 4 Obama

    Ya' think?!
    Yawn.

    July 18, 2012 03:36 pm at 3:36 pm |
  6. romneycares less

    Reveal thy self Romney!

    July 18, 2012 03:36 pm at 3:36 pm |
  7. rob

    The fact that the disgusting quote from Harry Ried.. "When Senate Majority Leader Harry Reid, D-Nevada, pronounced this week that "17 angry old white men will wake up and realize they've just bought the country," made it into this article shows how corrupt the liberal media is. Not one mention to the real issue this was brought up, to shut down enemies of the Dems while allowing the Public Unions to continue their corrupt partnership with the corrupt Democrat party.

    This is a viscious, hatefull and complete politically ignorant thing to say and it should be condemed or at the very least never used in any context. Harry Ried is a disgracefull person and CNN is a disgraceful news site.

    July 18, 2012 03:38 pm at 3:38 pm |
  8. BLKMANinAmerica

    HOW about it tells each American that there votes don't mean as much to the repuks as the big $$ does, and to be honest they (repuks) have proven this too be true.

    July 18, 2012 03:45 pm at 3:45 pm |
  9. Hale

    So the GOP if they are lucky might come close to Obama's spending but it’s doubtful. As usual with Democrats, they want to leave the leg breakers in the unions out their little campaign donations transparency charade. Democrats have had the upper hand in money and leveling the playing field is not something of interest for Reid and company.

    July 18, 2012 03:46 pm at 3:46 pm |
  10. Myviewis

    I believe Obama collect the most monies in history when he ran in 2008 and I don't think Romney has passed Obama.

    July 18, 2012 03:50 pm at 3:50 pm |
  11. Greg in Arkansas

    On the bright side, that's $6 billion put back into the economy that would just be gatereing dust under a bunch of rich dudes' mattresses.

    July 18, 2012 03:52 pm at 3:52 pm |
  12. Thomas

    YES IT DOSE !

    When ever a civilization spends so much on insuring or buying power , they have fallen !

    Look at History.

    July 18, 2012 03:54 pm at 3:54 pm |
  13. Rudy NYC

    The easiest way to get big sums of secret money out of politics is to stop voting for Republicans. Pass consitutional amendments that say: money is not a form of free speech; corporations are not people, and do not have the right to vote; political advertising must state what candidate it is supporting and who is paying for it. There's a lot of mess to clean up once we drain the swamp.

    July 18, 2012 04:09 pm at 4:09 pm |
  14. Claudia, Houston, Tx

    Americans will wake up and find we have an APARTHIED GOVERNMENT, the rich, the poor and no middle class.

    July 18, 2012 04:30 pm at 4:30 pm |
  15. Darryl

    CNN is the Best News of any News outlet period.If you do NOT like CNN then do NOT come here and spew your vicious verbal attacks.Mabe FOX is more suited for your mental capasity or lack there of.And Harry Reid is exactly right. The United States is NOT 4 Sale for any amount of money and the people of this country will let that be known along with who will lead the great country forward and make sure the wreckless people who destroyed it are never able to do it ever again. President Obama 2012 !

    July 18, 2012 04:42 pm at 4:42 pm |