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Elections Sun Oct 17 2010
Corporate Cash Flooding IL, National Federal Races
Holding signs with slogans such as "RepubliCorp: we buy democracy, one race at a time," members of MoveOn from Chicago and the northern suburbs held a press conference on Friday, Oct. 15 at the Northbrook office of Congressman Mark Kirk, who is also a candidate for U.S. Senate, to draw attention to a report entitled Buying Democracy: The impact of corporate and right-wing front groups on elections in llinois. The report's findings reinforce what many Americans have become aware of in recent weeks, namely, that an unprecedented flood of shadowy cash is making its way into the 2010 election. The northern Illinois group held their presentation in coordination with other MoveOn efforts taking place in all 50 states.
The influx of corporate cash was predicted by critics of the U.S. Supreme Court's decision in Citizens United v. FEC, which expanded on previous corporate-speech cases by equating corporations with people, and raw spending with speech, and ruling that corporations, including for-profit behemoths, had a right to spend unlimited amounts on elections, including federal elections where their participation had previously been barred. The MoveOn report, citing to dozens of news reports and studies, shows that entities aligned with right-wing causes and candidates planned to spend up to $400 million on this election, and that the overwhelming majority of front-group cash being spent on the federal elections is being used to attack Democratic candidates and benefit Republicans.
If you feel like there's more TV political assault than ever, you're not imagining it. Nationwide, TV spending has doubled compared to the 2006 mid-term elections. However, much of this is not coming from the candidates or parties, but from almost unknown third-party groups. In Illinois, the report states that two groups alone, including American Crossroads, had already spent nearly $1.3 million trying to defeat the Democratic Senate nominee, state treasurer Alexi Giannoulias, and thus elect Kirk. American Crossroads is headed by former Bush/GOP operative and strategist Karl Rove and is bankrolled largely by wealthy and corporate donors. In U.S. Senate races nationwide, conservative and right-wing groups are outspending liberal counterparts by a 9 to 1 ratio.
The spending is not only unprecedented in volume, and tilting hard to the right, but breaking records for how much is coming from undisclosed sources. Whereas in 2006 over 90% of all contributors were disclosed by the groups running the ads, that figure has fallen to 37% in the current election. Corporations and billionaires can underwrite the most vicious operatives and media smears by funneling funds through nonprofit groups or third-party entities, thus staging hit-and-run attacks that are not only enormously well-funded, but anonymous.
Following the press conference, the activists presented a copy of the report to staffers for Kirk, asking that the congressman support campaign finance reform, efforts to overturn Citizens United, and disavow the activities and support of groups such as American Crossroads. Larry Goldberg, head of the 9th Congressional District Council, said that the issues go beyond any one candidate or party: "We're very concerned about democracy itself."
MoveOn.org, which claims 5 million members nationwide, operates both a political arm and a 501(c)(4) organization, MoveOn.org Civic action, which primarily focuses on nonpartisan education and advocacy on important national issues. The political arm has taken an increasingly aggressive stance against Kirk, naming Alexi Giannoulias one of its "Progressive Heroes" and creating short video spots tying Kirk to corporate money.
Update 10/19/2010: Lest anyone think otherwise, I have supported MoveOn from time to time with small contributions of money and time, as I have many other groups and causes, and have participated in the planning of local events (but not this one). I may do so again. I attended the above event not as a journalist but as a private citizen, and posted it because the subject matter is important. This entry is, however, my own, not MoveOn's.
Alex / October 18, 2010 1:30 AM
The REAL Alexi Giannoulias Record
The Mark Kirk Campaign has finally released its analysis of Broadway Bank and Alexi Giannoulias. It is shocking.
BROADWAY BANK LOANS TO CRIMINALS (1999-2006)
TOTAL BROADWAY BANK LOANS TO CRIMINALS: $119,499,045
TOTAL ALEXI GIANNOULIAS LOANS TO CRIMINALS: $80,037,045
Loans to Michael "Jaws" Giorango
Michael Giorango $1,100,000.00 8/27/1999
Michael Giorango $900,000.00 9/24/1999
Michael Giorango $300,000.00 12/5/2000
2601 Associates $5,000,000.00 5/31/2001
Michael Giorango $6,000,000.00 11/2/2001
Michael Giorango $600,000.00 5/28/2002
2601 Associates $400,000.00 9/19/2002
1201 S Western LLC $1,360,000.00 9/1/2004
1201 S Western LLC $4,400,000.00 12/21/2004
1201 S Western LLC $6,120,000.00 12/31/2004
Sun & Ocean Properties $5,800,000.00 3/31/2005
2601 Associates $1,000,000.00 4/20/2005
Highland Park Real Estate Dev. Corp $3,600,000.00 7/1/2005
1201 S Western LLC $3,400,000.00 9/26/2005
BROADWAY BANK TOTAL: $39,980,000
ALEXI GIANNOULIAS TOTAL: $26,080,000
Loans to Demitri Stavropoulos
(Convicted in 2004 for running a multistate sports bookmaking ring)
2601 Associates $400,000.00 9/19/2002
1201 S Western LLC $1,360,000.00 9/1/2004
1201 S Western LLC $4,400,000.00 12/21/2004
1201 S Western LLC $6,120,000.00 12/31/2004
Sun & Ocean Properties $5,800,000.00 3/31/2005
2601 Associates $1,000,000.00 4/20/2005
Highland Park Real Estate Dev. Corp $3,600,000.00 7/1/2005
1201 S Western LLC $3,400,000.00 9/26/2005
BROADWAY BANK TOTAL: $26,080,000
ALEXI GIANNOULIAS TOTAL: $26,080,000
Loans to Boris "Half Dollar" Stratievsky
Arbor Fullerton Corp $1,900,000 4/1/2002
2400 South LLC $6,120,000 1/15/2003
Arbor III Inc $6,000,000 9/30/2004
Arbor III Inc $6,117,045 1/28/2005
Arbor ACQ Inc $5,000,000 2/18/2005
BROADWAY BANK TOTAL: $25,137,045
ALEXI GIANNOULIAS TOTAL: $23,237,045
Loans to Ugur Yildiz
(A gun dealer shut down by the ATF)
Ugur Yildiz $710,000 7/24/2001
Ugur Yildiz $800,000 11/2/2001
Ugur Yildiz $92,000 1/24/2002
Ugur Yildiz $600,000 6/4/2004
Ugur Yildiz $900,000 7/3/2004
DCG Holdings $1,360,000 6/30/2009
BROADWAY BANK TOTAL: $3,102,000
ALEXI GIANNOULIAS TOTAL: $1,500,000
Loans to Tony Rezko
Name Amount Date
Chicago-Hudson LLC $10,940,000 1/25/2002
Tony Rezko $1,000,000 9/2002
Riverside District Development LLC $22,750,000 2/14/2006
BROADWAY BANK TOTAL: $34,690,000
ALEXI GIANNOULIAS TOTAL: $23,750,000
Loans to Nadhmi Auchi
(arms dealer convicted of felonies in France)
Riverside District Development LLC $22,750,000 2/14/2006
BROADWAY BANK TOTAL: $22,750,000
ALEXI GIANNOULIAS TOTAL: $22,750,000
Loans to Nick Giannis
Name Amount Date
Nick Giannis $200,000.00 8/15/2000
Nick Giannis $4,000,000.00 8/9/2001
Nick Giannis $200,000.00 10/25/2001
Nick Giannis $350,000.00 2/27/2002
Nick Giannis $1,220,000.00 11/26/2002
Boston Blackies Prop I LLC $4,250,000.00 2/24/2005
Boston Blackies Prop I LLC $1,400,000.00 1/22/2007
Boston Blackies Prop I LLC $500,000.00 4/9/2007
Boston Blackies Prop I LLC $2,100,000.00 6/8/2007
Boston Blackies Prop IV LLC $2,370,000.00 5/23/2008
BROADWAY BANK TOTAL: $16,590,000
ALEXI GIANNOULIAS TOTAL: $5,470,000