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| Campaign finance – disclosure day live | Campaign finance – disclosure day live |
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| 12.07pm: Chris McGreal has been looking in more detail into Karl Rove's links to campaign financing that we mentioned earlier. | |
| In the murky world of political financing, two sister groups created by George Bush's former strategist Karl Rove – American Crossroads and Crossroads Grassroots Policy Strategies (GPS) – stand out. Between them they raised $51m last year for Republican causes. | |
| Nearly $18.5m went to American Crossroads – a recognised Super Pac – with a massive $5m coming from a single billionaire, Harold Simmons. The balance, about $32.5m, was raised by Crossroads GPS. But the law allows its donors to remain anonymous – no matter how much they give – and its role more is shadowy. | |
| That's because Crossroads GPS is defined as a 501(c)(4), a non-profit corporation and not a Super PAC. But its critics say it walks and talks like a Super PAC, attacking the president and Democrats in highly politicised adverts. | |
| Crossroads is legally defined as an organisation intended to "advance social welfare". That permits it to advocate "public policy". But its "issues adverts" do not look very different from political campaigning. | |
| Crossroads GPS is launching a new advert attacking Barack Obama over the controversial $535m government loan guarantee to the green energy company, Solyndra, which subsequently went bust and laid off 1,100 people "Laid-off workers forgotten. Tell President Obama we need jobs, not more insider deals," the advert says. | |
| A memo by Crossroads GPS president, Steven Law, on the adverts said: "Advocates on the center-right need to engage that debate in both moral and economic terms, showing that Obama's Washington is an unfair place, and less of Obama's invasive, free-spending and chronically politicized government is the solution." | |
| 12.03pm: Big data dumps often turn into a race between news organisations to make sense of them, so here's the best of the web on the FEC filings so far. Feel free to share other links in the comments: | |
| • The New York Times has produced a lovely simple chart of the major Super Pac donors. | |
| • Reuters has a nifty summary of the top-line figures in its Fact Box. | |
| • MSNBC ambitiously promises "fun facts" (sample fact: "Restore Our Future received seven $1 million checks, 12 $500,000 contributions, and 62 $100,000 checks.") | |
| • The Wall Street Journal takes a step back to point out that Super Pac spending from a small number of the super wealthy (subscription) is dominating TV advertising. | |
| 11.50am: And the cash keeps on flowing: ABC News reports that Barack Obama, the first lady and the vice president all held fundraisers yesterday that were expected to bring in $5.3m for the Democrats and the president. | |
| Tickets started at $35,800 per person for an event at the St Regis hotel in Washington tonight. Or, if you preferred something a little more exclusive, it was $35,800 per couple for a dinner at a private residence in Chevvy Chase, Maryland. | |
| 11.13am: Among the many commentators trying to make sense of Newt Gingrich's continuing enthusiasm for this race is Michael Hirsh at the National Journal. In a piece published this morning, he writes: | 11.13am: Among the many commentators trying to make sense of Newt Gingrich's continuing enthusiasm for this race is Michael Hirsh at the National Journal. In a piece published this morning, he writes: |
| While Gingrich is unlikely to get the nomination at this point, his enduring fantasy of himself as a great figure in history may propel him to carry on this primary race far longer than reality might dictate. He said last night he's going all the way to the convention. He talked about coming back again and again. I think he believes it. | While Gingrich is unlikely to get the nomination at this point, his enduring fantasy of himself as a great figure in history may propel him to carry on this primary race far longer than reality might dictate. He said last night he's going all the way to the convention. He talked about coming back again and again. I think he believes it. |
| 11.09am: The biggest donors aren't immediately apparent in the filings, because they often donate in installments or through different organisations. The Associated Press has been doing some deep digging and found that Restore our Future, the Super Pac supporting Mitt Romney, enjoyed donations of more than $30m from bankers, investors and prominent businessmen. The group's three most generous donors gave $1m each, or 400 times the amount they could legally give directly to Romney's campaign directly. All were hedge fund managers. | 11.09am: The biggest donors aren't immediately apparent in the filings, because they often donate in installments or through different organisations. The Associated Press has been doing some deep digging and found that Restore our Future, the Super Pac supporting Mitt Romney, enjoyed donations of more than $30m from bankers, investors and prominent businessmen. The group's three most generous donors gave $1m each, or 400 times the amount they could legally give directly to Romney's campaign directly. All were hedge fund managers. |
| The top $1 million contributions came from Robert Mercer, co-executive of Renaissance Technologies, one of the world's largest hedge funds; Julian H Robertson Jr, the retired head of Tiger Management Corp, another top hedge fund; and Paul Singer, head of the New York-based Elliot Management Corp. Singer is a major Republican party campaign fundraiser, and his firm has specialised in the controversial practice of buying up sovereign debt of Third World and economically distressed nations, the AP reported. | The top $1 million contributions came from Robert Mercer, co-executive of Renaissance Technologies, one of the world's largest hedge funds; Julian H Robertson Jr, the retired head of Tiger Management Corp, another top hedge fund; and Paul Singer, head of the New York-based Elliot Management Corp. Singer is a major Republican party campaign fundraiser, and his firm has specialised in the controversial practice of buying up sovereign debt of Third World and economically distressed nations, the AP reported. |
| Illustrating the problem in identifying donors, a million-dollar gift came in four installments from Melaleuca Inc, a vitamin and health products company headed by Frank VanderSloot, a Mormon businessman who has donated to both Republican and Democratic politicians. VanderSloot's website features a photo of him posing with Newt Gingrich and his wife, Callista. | Illustrating the problem in identifying donors, a million-dollar gift came in four installments from Melaleuca Inc, a vitamin and health products company headed by Frank VanderSloot, a Mormon businessman who has donated to both Republican and Democratic politicians. VanderSloot's website features a photo of him posing with Newt Gingrich and his wife, Callista. |
| At least $750,000 came from Bill Koch, a sibling of the two prominent Koch brothers who donated to many Republican, conservative and pro-business causes in recent years. Bill Koch gave a $250,000 donation, and Oxbow Carbon LLC, the global energy firm he heads, gave $750,000 more, according to AP. | At least $750,000 came from Bill Koch, a sibling of the two prominent Koch brothers who donated to many Republican, conservative and pro-business causes in recent years. Bill Koch gave a $250,000 donation, and Oxbow Carbon LLC, the global energy firm he heads, gave $750,000 more, according to AP. |
| American Crossroads, the Republican group backed by former George W Bush adviser Karl Rove, said it raised $51m along with its nonprofit arm last year. Most of its $11m in contributions over the past three months came from about a dozen wealthy donors, including Harold Simmons, a Dallas businessman with ties to former Republican candidate Texas governor Rick Perry. | American Crossroads, the Republican group backed by former George W Bush adviser Karl Rove, said it raised $51m along with its nonprofit arm last year. Most of its $11m in contributions over the past three months came from about a dozen wealthy donors, including Harold Simmons, a Dallas businessman with ties to former Republican candidate Texas governor Rick Perry. |
| 10.53am: For those of you with energy, patience and a sense that this super pac thing is not quite right, here's the link to Mitt Romney's FEC filing. | 10.53am: For those of you with energy, patience and a sense that this super pac thing is not quite right, here's the link to Mitt Romney's FEC filing. |
| 10.40am: Romney has been misunderstood about poor people again, this time on CNN. The stand out quote "I'm not concerned about the very poor", is not quite as bad as it sounds in context. Not quite. | 10.40am: Romney has been misunderstood about poor people again, this time on CNN. The stand out quote "I'm not concerned about the very poor", is not quite as bad as it sounds in context. Not quite. |
| After winning the Florida primary, GOP presidential nominee hopeful Mitt Romney explains to CNN anchor Soledad O'Brien that he is focused on a particular portion of the American population in his campaign. | After winning the Florida primary, GOP presidential nominee hopeful Mitt Romney explains to CNN anchor Soledad O'Brien that he is focused on a particular portion of the American population in his campaign. |
| Romney says, "I'm not concerned about the very poor. We have a safety net there. If it needs a repair, I'll fix it. I'm not concerned about the very rich.... I'm concerned about the very heart of America, the 90-95 percent of Americans who right now are struggling." | Romney says, "I'm not concerned about the very poor. We have a safety net there. If it needs a repair, I'll fix it. I'm not concerned about the very rich.... I'm concerned about the very heart of America, the 90-95 percent of Americans who right now are struggling." |
| O'Brien asked him to clarify his remarks saying, "There are lots of very poor Americans who are struggling who would say, 'That sounds odd.'" | O'Brien asked him to clarify his remarks saying, "There are lots of very poor Americans who are struggling who would say, 'That sounds odd.'" |
| Romney continues, "We will hear from the Democrat party, the plight of the poor.... You can focus on the very poor, that's not my focus.... The middle income Americans, they're the folks that are really struggling right now and they need someone that can help get this economy going for them." | Romney continues, "We will hear from the Democrat party, the plight of the poor.... You can focus on the very poor, that's not my focus.... The middle income Americans, they're the folks that are really struggling right now and they need someone that can help get this economy going for them." |
| 10.27am: Significant stat from last night: Mitt Romney's total vote, 46.4% is greater than the combined "anti-Romney" vote shared by Gingrich (31.9%), Santorum (13.4%) and Perry (0.4%) who collectively reached 45.7%. As pointed out by our own Paul Harris last night, this suggests Romney has quashed those high Conservatives who fear him more than they support any other candidate. | 10.27am: Significant stat from last night: Mitt Romney's total vote, 46.4% is greater than the combined "anti-Romney" vote shared by Gingrich (31.9%), Santorum (13.4%) and Perry (0.4%) who collectively reached 45.7%. As pointed out by our own Paul Harris last night, this suggests Romney has quashed those high Conservatives who fear him more than they support any other candidate. |
| Key thing to check is if #Romney's total is greater than #Santorum + #Gingrich together. If so, then Mitt was killed the #GOP doubters | Key thing to check is if #Romney's total is greater than #Santorum + #Gingrich together. If so, then Mitt was killed the #GOP doubters |
| — Paul Harris (@paulxharris) February 1, 2012 | — Paul Harris (@paulxharris) February 1, 2012 |
| RON PAUL NOTE: Ron Paul received 7% of the vote. We are not ignoring Ron Paul. | RON PAUL NOTE: Ron Paul received 7% of the vote. We are not ignoring Ron Paul. |
| 10.20am: The big news from last night's primary result in Florida is that as of this morning, Mitt Romney is an official protectee of the state with his own Secret Service detail. With great office comes great responsibility, also Secret Service code names (Barack Obama is Renegade, Michelle Obama is Renaissance and the first daughters go by Radiance and Rosebud). Romney's moniker is a matter of considerable speculation. We like Bain. Simple, action-orientated and possibly a baddie from the Incredible Hulk adventures (we're googling that). | 10.20am: The big news from last night's primary result in Florida is that as of this morning, Mitt Romney is an official protectee of the state with his own Secret Service detail. With great office comes great responsibility, also Secret Service code names (Barack Obama is Renegade, Michelle Obama is Renaissance and the first daughters go by Radiance and Rosebud). Romney's moniker is a matter of considerable speculation. We like Bain. Simple, action-orientated and possibly a baddie from the Incredible Hulk adventures (we're googling that). |
| Here's another good one: | Here's another good one: |
| Weathervane#RomneySecretServiceCodeName | Weathervane#RomneySecretServiceCodeName |
| — Chris Gentle (@crgentle) February 1, 2012 | — Chris Gentle (@crgentle) February 1, 2012 |
| 10.12am: The Guardian's Washington correspondent Chris McGreal has been poring through the filings, and is interested particularly in the Super Pac that has supported Mitt Romney's presidential bid with support from top executives at Bain Capital, Goldman Sachs and other financial houses with connections to the former Massachusetts governor. | 10.12am: The Guardian's Washington correspondent Chris McGreal has been poring through the filings, and is interested particularly in the Super Pac that has supported Mitt Romney's presidential bid with support from top executives at Bain Capital, Goldman Sachs and other financial houses with connections to the former Massachusetts governor. |
| According to figures released by the Federal Election Commission at midnight, the Super Pac backing Romney, Restore Our Future, took in about $18m from 200 donors during the second half of last year. Nearly 60 of the donors were firms or rich individuals who gave more than $100,000. | According to figures released by the Federal Election Commission at midnight, the Super Pac backing Romney, Restore Our Future, took in about $18m from 200 donors during the second half of last year. Nearly 60 of the donors were firms or rich individuals who gave more than $100,000. |
| The Super Pac backing Barack Obama, Priorities USA Action, raised just $4.4m over the same period. But the financial filings released by the FEC showed that the president's campaign organisation – which is not a Super Pac and therefore limited to individual donations no larger than $2,500 – raised more than twice as much as Romney's in 2011, bringing in $140m. | The Super Pac backing Barack Obama, Priorities USA Action, raised just $4.4m over the same period. But the financial filings released by the FEC showed that the president's campaign organisation – which is not a Super Pac and therefore limited to individual donations no larger than $2,500 – raised more than twice as much as Romney's in 2011, bringing in $140m. |
| The disparity suggests that Romney will be heavily reliant on wealthy donors and big business to finance his run for president. If Romney is the Republican nominee he will also be able to draw on two large independent Super Pacs, Crossroads and Crossroads GPS, which raised more than $50m last year. Romney raised millions from the financial world including three donors running hedge funds who gave $1m each. | The disparity suggests that Romney will be heavily reliant on wealthy donors and big business to finance his run for president. If Romney is the Republican nominee he will also be able to draw on two large independent Super Pacs, Crossroads and Crossroads GPS, which raised more than $50m last year. Romney raised millions from the financial world including three donors running hedge funds who gave $1m each. |
| The other donors to Romney included a total of $750,000 from former colleagues at Bain and 4385,000 from executives at Goldman Sachs. Bob Perry, a Houston developer who was a leading financier of Swift Boat Veterans for Truth which smeared the 2004 Democratic presidential candidate, John Kerry, with accusations he made false claims about his service in Vietnam, gave $1m as did William Koch, brother of Charles and David Koch who fund the Tea Party movement. | The other donors to Romney included a total of $750,000 from former colleagues at Bain and 4385,000 from executives at Goldman Sachs. Bob Perry, a Houston developer who was a leading financier of Swift Boat Veterans for Truth which smeared the 2004 Democratic presidential candidate, John Kerry, with accusations he made false claims about his service in Vietnam, gave $1m as did William Koch, brother of Charles and David Koch who fund the Tea Party movement. |
| Among the other major donors were members of the Walton family which founded the Walmart supermarket chain, the single largest employer in the US, who gave more than $200,000; Bill Marriott, the chairman of the Marriott hotel chain; and Patrick Durkin, a lobbyist for Barclays bank. | Among the other major donors were members of the Walton family which founded the Walmart supermarket chain, the single largest employer in the US, who gave more than $200,000; Bill Marriott, the chairman of the Marriott hotel chain; and Patrick Durkin, a lobbyist for Barclays bank. |
| Chris reports that among the wealthy donors backing Obama's Super Pac were Jeffrey Katzenberg, chief executive of the Dreamworks Animation film company, who gave $2m. Service Employees International Union, a trades union with more than 2m members, donated $1m. | Chris reports that among the wealthy donors backing Obama's Super Pac were Jeffrey Katzenberg, chief executive of the Dreamworks Animation film company, who gave $2m. Service Employees International Union, a trades union with more than 2m members, donated $1m. |
| 9.45am: The scale of the cash battle facing the eventual Republican nominee is considerable: Barack Obama raised nearly $130m by December 31 – $96.9m directly and $32.9m from the fund that feeds both his campaign and the Democratic party. | 9.45am: The scale of the cash battle facing the eventual Republican nominee is considerable: Barack Obama raised nearly $130m by December 31 – $96.9m directly and $32.9m from the fund that feeds both his campaign and the Democratic party. |
| The New York Times describes how Obama is able to exploit the "well-oiled machinery of an incumbent with a powerful grass-roots apparatus and hundreds of 'bundler' gathering checks of up to $2,500 per person from friends and associates", whereas his Republican opponents rely "far more heavily on independent groups empowered by court decisions that have made it easier for wealthy individuals and corporations to spend unlimited amounts of money". | The New York Times describes how Obama is able to exploit the "well-oiled machinery of an incumbent with a powerful grass-roots apparatus and hundreds of 'bundler' gathering checks of up to $2,500 per person from friends and associates", whereas his Republican opponents rely "far more heavily on independent groups empowered by court decisions that have made it easier for wealthy individuals and corporations to spend unlimited amounts of money". |
| 9.36am: Republican campaigns: so far today we learn that of the Republican nomination frontrunners, Mitt Romney raised by far the most money – $56.8m by December 31. Newt Gingrich trails on $12.7m. | 9.36am: Republican campaigns: so far today we learn that of the Republican nomination frontrunners, Mitt Romney raised by far the most money – $56.8m by December 31. Newt Gingrich trails on $12.7m. |
| The dire financial situation of Rick Santorum is revealed by the mere $2.2m that he raised by the end of the year. Rick Perry, who dropped out in January 19, pocketed $19.8m as a result of his Texas fundraising machine. Jon Huntsman, who also dropped out in January, banked £3.3m. Ron Paul, the maverick Texas congressman who's still in the race, raised a massive $25.5m. | The dire financial situation of Rick Santorum is revealed by the mere $2.2m that he raised by the end of the year. Rick Perry, who dropped out in January 19, pocketed $19.8m as a result of his Texas fundraising machine. Jon Huntsman, who also dropped out in January, banked £3.3m. Ron Paul, the maverick Texas congressman who's still in the race, raised a massive $25.5m. |
| 9.30am: US politics may be corrupted by the millions of dollars of cash that flows between big-money donors and their favoured candidates and campaigns, but at least you know who's doing the corrupting. | 9.30am: US politics may be corrupted by the millions of dollars of cash that flows between big-money donors and their favoured candidates and campaigns, but at least you know who's doing the corrupting. |
| Corporate and individual donors to political campaigns and "super" political action committees (Super Pacs) are required to file details of their donations and spending to the federal elections commission. Today, we find out where the money went, as the FEC releases details of filings to December 31. | Corporate and individual donors to political campaigns and "super" political action committees (Super Pacs) are required to file details of their donations and spending to the federal elections commission. Today, we find out where the money went, as the FEC releases details of filings to December 31. |
| We'll be trawling through the findings and keeping and eye on everyone else who's doing the same thing. Plus we'll have fallout and reaction from the Florida primary results, where Mitt Romney scored a decisive victory over Newt Gingrich. | We'll be trawling through the findings and keeping and eye on everyone else who's doing the same thing. Plus we'll have fallout and reaction from the Florida primary results, where Mitt Romney scored a decisive victory over Newt Gingrich. |