"Money wins elections" - well, we all know that. That`s why I ask myself how much was spend during the presidential campaign 2008, especially in this economically difficult times. And I hardly read anything about it. That made me even more curious.
I found these numbers: the presidential race cost nearly 2.4 billion dollar according to Center for Responsive Politics (CRP).
Obama nearly had a two-to-one monetary advantage over John McCain. According to FECall candidates raised 1.5 billion dollar, Obama 663 millions, McCain 335 millions.
Where did all that money come from? In example just from the often mentioned and praised "small donors" funding the Obama campaign? Of course not!
"Since the start of 2007, his campaign relied on bigger donors and smaller donors nearly equally" CRP
What really troubles me: "Viewed more broadly, the finance, insurance and real estate sector once again dominates in political contributions, exceeding $373 million in the Center's most recent analysis. Democrats have a slight edge with the finance sector."
Isn´t that the same bunch of people who caused the financial crisis? Any ethical problems with that? What do you think? Please leave a comment, if you find that odd or if it is ok with you to take money from Lehman Brothers, Goldman Sachs and other Wall street folks! They could have denied that money, couldn`t they?
"The typical campaign contributor showing up in government data is still typically a lawyer, a Wall Street banker, a doctor, a CEO or a college professor at a major university. For all their influence at the polls, guys like Joe the Plumber aren't typically campaign contributors. You're more likely to see John the Bond Trader bankrolling these campaigns." CRP
Less change than expected, business as usual? Too naive to be surprised? I am not an expert in campaign financing at all and FEC financing rules really confuse me.
Update 12.11.08:
I liked very much this article by Joshua Green"The Amazing Money Machine": "The answer is that he built a fund-raising machine quite unlike anything seen before in national politics. Obama’s machine attracts large and small donors alike..."
