HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Foreign Firm Gives $1 Mil...
Introducing Discussionist: A new forum by the creators of DU

Fri Oct 5, 2012, 02:55 PM

Foreign Firm Gives $1 Million to Romney Super-PAC

Source: Mother Jones/Center for Public Integrity

This story first appeared on the Center for Public Integrity's website.

A million-dollar donation by a foreign-owned corporation to a Republican super-PAC has raised legal concerns and opened up the controversial Citizens United Supreme Court decision to new criticism.

Restore Our Future, the super-PAC supporting Republican Mitt Romney's run for president, received a $1 million donation in mid-August from reinsurance company OdysseyRe of Connecticut, a "wholly-owned subsidiary" of Canadian insurance and investment management giant Fairfax Financial Holdings Limited.

Fairfax Financial's founder is Indian-born V. Prem Watsa. Watsa serves as CEO and chairman and owns or controls 45 percent of the company's shares. He is also the chairman of the board of OdysseyRe, the American subsidiary.

The law says that any foreign national is prohibited from "directly or indirectly" contributing money to influence US elections. That means no campaign donations, no donations to super-PACs, and no funding of political advertisements.

-snip-

The company is the subject of an IRS whistleblower's complaint, according to the New York Times, alleging that it received an unwarranted tax break of $400 million between 2003 and 2006, a claim Fairfax disputes.

The $1 million donation will likely be used for attack ads against President Barack Obama. And with less than five weeks until Election Day, $1 million is no insignificant amount. It's enough to buy at least a week or two's worth of ads in critical media markets. It also represents one-seventh of the money Restore Our Future collected in August.

Lovell said the company decided to donate because it favors Romney's stance on tax policy.

Read more: http://www.motherjones.com/politics/2012/10/canadian-foreign-donation-super-pac-restore-our-future

17 replies, 3194 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 17 replies Author Time Post
Reply Foreign Firm Gives $1 Million to Romney Super-PAC (Original post)
trailmonkee Oct 2012 OP
EC Oct 2012 #1
wryter2000 Oct 2012 #2
Jackpine Radical Oct 2012 #3
saidsimplesimon Oct 2012 #9
Jackpine Radical Oct 2012 #16
mercuryblues Oct 2012 #4
Uncle Joe Oct 2012 #5
defacto7 Oct 2012 #6
murphyj87 Oct 2012 #10
annabanana Oct 2012 #13
defacto7 Oct 2012 #14
McCamy Taylor Oct 2012 #7
They_Live Oct 2012 #8
myrna minx Oct 2012 #11
annabanana Oct 2012 #12
defacto7 Oct 2012 #15
bushisanidiot Oct 2012 #17

Response to trailmonkee (Original post)

Fri Oct 5, 2012, 03:00 PM

1. Okay Alito

what do you say now?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 03:00 PM

2. Which one was it? Alito?

Who mouthed "not true" at the state of the nation address? Moron.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 03:02 PM

3. Corporations are people, my friend.

Except when it comes to exempting them from burdensome regulations.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Jackpine Radical (Reply #3)

Fri Oct 5, 2012, 09:47 PM

9. Indeed, it's a failure

We can choose to stand up, or stand down to the international, corporate attack on democratic principles, and values.

IMHO, which side are you on?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to saidsimplesimon (Reply #9)

Sat Oct 6, 2012, 10:06 AM

16. "Which side…" Precisely.

"Which Side Are You On?"

Come all you good workers
Good news to you I'll tell
Of how the good old union
Has come in here to dwell

Which side are you on boys?
Which side are you on?

My daddy was a miner
He's now in the air and sun
He'll be with you fellow workers
Until the battle's won

Which side are you on boys?
Which side are you on?

They say in Harlan County
There are no neutrals there
You'll either be a union man
Or a thug for J. H. Claire

Which side are you on boys?
Which side are you on?

Oh workers can you stand it?
Oh tell me how you can
Will you be a lousy scab
Or will you be a man?

Which side are you on boys?
Which side are you on?

Don't scab for the bosses
Don't listen to their lies
Poor folks ain't got a chance
Unless they organize

Which side are you on boys?
Which side are you on?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 04:53 PM

4. Ginsburg called this one


http://www.dailycensored.com/2009/11/07/foreign-contributions-and-the-supremes-overdue-decision-on-campaign-funding/

Justice Ginsburg created a poison pill by putting on notice any Supreme Court majority that overturns the lower court decision: your actions will allow foreign funding for U.S. campaigns. Any foreign entity could simply exercise an existing or newly acquired ownership position in a U.S. corporation to demand services from that corporation’s latest wholly owned candidate.

The current bans on direct corporate contributions and contributions from foreign entities would become meaningless. The influence of the “corrosive and distorting effects of immense aggregations of wealth” obtained through the control of puppet politicians would submit all of us to the vicissitudes of balance sheets and the salary and bonus demands of board chairmen all over the world (to an even greater degree than we now experience).

Supremes Green Light Foreign Money in U.S. Elections! How well will that fly with citizens in the current political climate? Does the Supreme Court even care?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 05:05 PM

5. The traitorous five should be impeached for betraying the nation and subverting our Constitution

to foreign interests.

Those "Justices" would have to be brain dead not to know this could happen.

Thanks for the thread, trailmonkee.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 06:26 PM

6. I was waiting for something like this.

I was only time before foreign interests became involved in the buyout of the US.

So... does this mean we can assimilate Canada into the United States now? We can make it the 51st state.

Then again, maybe it means we are a new province of Canada.

Citizens United is treason.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to defacto7 (Reply #6)

Fri Oct 5, 2012, 09:54 PM

10. We'll .....

We'll force universal single payer health care and strong banking and corporate regulation on you when we take you over and make you the 11th province. It also means you'd be forced to take Family Allowance ($100 per month per child under 18) and Old Age Security Pension ($500+ per month for those 65 and over) over and above your Canada Pension. Being the 11th province might not be so bad.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to murphyj87 (Reply #10)

Fri Oct 5, 2012, 10:05 PM

13. I heartily welcome our new Canadian Overlords!

Seriously.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to murphyj87 (Reply #10)

Fri Oct 5, 2012, 10:19 PM

14. Wow...

It makes my mouth water!!! OK, you have my permission to take over! Go ahead, buy the election... wait, that would mean Romney.

Never mind.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 06:51 PM

7. Everyone under indictment by the feds is giving money to Romney SuperPacs.

The Gang of Five on the Supreme Court must be so proud of themselves. They made an easy way for the rich to buy pardons.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 06:56 PM

8. Yes it was Alito

the clip...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 10:03 PM

11. Yes, Alito, yes. This is what you wrought.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 10:04 PM

12. Dark Money is an invitation to this kind of abuse.

I'm sure Hitler would have thrown lots and lots of money into our elections in the 30's and 40's if he could have.

I expect that China and Saudi Arabia and Israel and God knows who else is doing so NOW.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Fri Oct 5, 2012, 10:24 PM

15. But what's there to buy?

There's only so much you can buy no matter how much you have to spend. And what will they sell? More lies?

I used to think that more money means better coverage, but I don't think that anymore. People are getting wiser and the cat's out of the bag on the repugs. If people think money is god, their god is rather useless at the moment.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to trailmonkee (Original post)

Mon Oct 8, 2012, 06:51 PM

17. Breaking the law!

Mitt lies cheats and steals. He doesn't have any idea how to operate a business the honest way.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread