Bernie Sanders has attacked Hillary
Clinton for accepting money from “Wall Street billionaires.” He argues she can’t
be for the 99% percent if she takes money from the 1%. The basis of his
complaint is the corrupting influence of the rich. He reasons that they must
expect something in return for their “investment” in a candidate; a quid pro
quo return when elected to protect their wealth.
But who are the “billionaires” who are
supporting HRC? What are their interests? A check of the federal election
filings for PAC’s and super PAC funding reveals names of people who certainly are
very wealthy. They would seem to have an interest in keeping their wealth and
in investing it wisely; but not necessarily for wholely “selfish” reasons.
Yet, these women and men who contributed
between $1 million and $8 million to PACs supporting her election are ALL
longtime contributors to progressive causes as well as the Democratic Party.
These causes included: women’s and children’s welfare and education; drug law reform;
higher education in math and science; health; LGBT rights; civil rights; civil
liberties; voter fairness. There are also trade unions, and entertainment
figures.
Now, it is certain that these people
expect a return, but probably not a quid pro quo like a tax break or de-regulation
of their industry. All supported Obama and many Democratic congressional
candidates — whose policies urged higher taxes on the wealthy and tighter
regulation of banks, financial institutions and Wall Street. Perhaps not all civic-minded
rich people are guided by narrow self-interest. (Admittedly, some of those on the list have taken advantage of the "rigged" economic system in order to gain and retain wealth. But this fact makes it even more admirable that they support policies that will diminish their wealth.)
They certainly do want to be heard and
their money does give them access to power that you and I do not have. Yes, the
world might be a purer place if there was no income inequality and everyone who
had money gave it away to everyone who needed it. There is a political
philosophy that idealizes that goal. In practice, it hasn’t worked too well
when it was forced on other societies in huge gulps.
There is way too much money in the
election process. Even before Citizen’s United, this was true and it gets truer
every election cycle. Bernie Sanders refuses to accept “Wall Street money” and
refuses to accept money from super PAC’s. Fine. He has followed Obama’s
brilliant marshaling of the power of the internet and direct email to garner
millions in small donations. But what happens if he wins the nomination and
faces a Republican Party that smothers him with expensive ads that “define” him
as they did John Kerry; if they “swiftboat” Sanders as “socialist,” “radical”
and many other nasty labels (do they need to spell out “Brooklyn” and “Jew”?)
Will he . . . should he . . .
turn down such support. No matter what, these people will give their financial
support for candidates down the slate. The system we do have depends on people
of good will to act for the civic good . . . at least as they see it.
Here are some of the filthy rich who have
donated to HRC’s super PAC:
George Soros. Hungarian born
billionaire from Wall Street speculation (currency trading). He has long
supported liberal causes. In 2004 he funded PAC to unseat GW Bush. Now, he has
donated $8 million to support HRC. His political interests have included
anti-apartheid, concern about Russia and China. He is a major funder of ACLU
and other groups backing constitutional rights.
James Simons, former head of Math
Dept. at Stony Brook U., former CEO of Renaissance Technologies, a hedge fund
that uses complex mathematical formulas for day trades. He is a billionaire,
retired since 2009. He contributes to many causes: math education, autism
research, etc. He is a long time supporter of the Democratic Party. Contributor
to Pacs for House candidates.
Jay Robert Pritzker, of a wealthy family
(Hyatt Hotels, etc), involved in philanthropy (child welfare and education,
holocaust and genocide studies, et al.) and supporter of Democratic party. He
was co-chair of HRC for president in 2008 and then supported Obama.
Herbert Sandler is the former CO-CEO (with his wife, Marion Sandler) of Golden West
Financial Corporation and World Savings Bank.
The Sandlers helped found and are among the largest benefactors of the Center for
Responsible Lending, a nonprofit, nonpartisan organization fighting
predatory mortgage lending, payday loans,
and other products that prey on consumers; the Center for
American Progress, a progressive think tank; ProPublica, an
investigative reporting newsroom; and the American Asthma
Foundation. In addition, the Sandlers or their foundation support
organizations involved in medical research, the environment, human rights, and
civil liberties.
S. Donald Sussman (born June 8, 1946) is an American financier and philanthropist, the
Chairman of the Board of Trust Asset Management, the founder of the Paloma
Funds and New China Capital Management LLC, and a member of the Board of
Trustees of Carnegie Hall. Sussman has also served on the Board of Trustees of Skidmore College, the Center for
American Progress and the Portland
Museum of Art.
Sussman was married to Chellie Pingree, a Democratic
member of the U.S. House of
Representatives from Maine's 1st
congressional district, though Pingree announced their separation
and impending divorce on September 8, 2015.
Haim Saban billionaire in
entertainment (Univision, etc.) who has been a longtime contributor on issues,
mostly relating to Israel. He opposed the Iran deal fearing nuclear threat to
Israel.
Cheryl Saban: funds Women’s
Self Worth Foundation: causes are children and women’s issues; health and
welfare.
Stephen Spielberg and David Katzenberg: entertainment with
long liberal Democratic interests.
Other main contributors to her PAC include:
Fair Share Action: super PAC heavily funded by Tim Gill, a computer
software entrepreneur and LGBT rights
activist. Also received $550,000 in seed funding from Environment
America. Billionaire Tom Steyer, the National
Education Association, and America Votes have also
funded Fair Share Action.
Operating Engineers Union
Center for Middle East Peace: S. Daniel Abraham founded this group
that provides facts supporting a two state solution.
Plumbers and Pipefitters Union
Evergreen Farm
Bohemian Foundation: Pat Stryker, liberal causes in Michigan and
Colorado.
