Gold
Corporate America seems to – finally – understand what just about every observer understood for a long time already: it’s quite possible that the Democrats will win the elections. As a result, Democratic candidates are suddenly receiving last minute donations by corporations.
Though Democratic control of either chamber of Congress is far from certain, the prospect of a power shift is leading interest groups to begin rethinking well-established relationships, with business lobbyists going as far as finding potential Democratic allies in the freshman class — even if they are still trying to defeat them on the campaign trail — and preparing to extend an olive branch the morning after the election.
Lobbyists, some of whom had fallen out of the habit of attending Democratic events, are even talking about making their way to the Sonnenalp Resort in Vail, Colo., where Representative Nancy Pelosi of California is holding a Speaker’s Club ski getaway on Jan. 3. It is an annual affair, but the gathering’s title could be especially apt for Ms. Pelosi, the House minority leader, who will be on hand to accept $15,000 checks, and could, if everything breaks her way, become the first woman to be House speaker.
“Attendance will be high,� said Steve Elmendorf, a former Democratic Congressional aide who has a long list of business lobbying clients. “All Democratic events will see a big increase next year, no question.�
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For the first nine months of the year, for example, Pfizer’s political action committee had given 67 percent of contributions to Republican candidates. But October ushered in a sudden change of fortune, according to disclosure reports, and Democrats received 59 percent of the Pfizer contributions.
I always wonder in how far corporate donations influence policies and, more importantly, wonder about in how far corporations should be able to influence policies. Sometimes I cannot help but think that the American fund raiser system has a tendency to make politicians the puppets of big corporations.
Any thoughts on this?
