Trump Fed Board “Watchdog” Pick Randal Quarles: A Wall Street Lapdog

Donald Trump is stacking the Federal Reserve Board with a Wall Street crony who will work for big banks at the expense of working Americans. This morning the Senate Banking Committee considered the nomination of Randal Quarles to serve on the Federal Reserve Board of Governors; if confirmed, Qarles would serve as the board’s chief overseer of the financial system, a scary reality considering Quarles has long ties to the banking industry and has advocated for deregulation that could result in another 2008-style financial crisis.

“Nominating Quarles just further proves that Trump is hell bent on appeasing Wall Street at everyone else’s expense,” said Shripal Shah, Vice President of American Bridge. “Quarles isn’t a watchdog, he’s a lapdog, and if he has his way, he’ll further rig the financial system for big banks the moment he gets the chance.  He’s not fit to serve in a regulatory role and the Senate should […]

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NEW FOCUS GROUP RESEARCH: VOTERS ARE TURNED OFF BY THE KOCH AGENDA & THEIR PUPPET CANDIDATES

For Immediate Release:
November 20, 2015

NEW FOCUS GROUP RESEARCH: VOTERS ARE TURNED OFF BY THE KOCH AGENDA & THEIR PUPPET CANDIDATES

In August, Bridge Project conducted six focus groups with swing voters in Iowa, Florida, and Nevada on the billionaire Koch brothers as they gear up to spend nearly $900 million pushing their agenda and backing their puppet candidates in 2016.

The focus groups revealed that to know the Kochs is to dislike them and that voters are turned off by their harmful, self-enriching agenda. It’s clear to voters that when the Kochs spend millions propping up their puppet candidates, the Kochs “expect something in return.”

To read the focus group memo, click here: http://bp21.co/kochgroups.

“In the eyes of voters, the Kochs’ harmful, self-enriching agenda and the hundreds of millions they spend backing their puppet candidates are strong turnoffs,” said Eddie Vale, Vice President of American Bridge 21st Century. “This research clarifies how Democrats can fight back against […]

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Karl Rove Just Tossed Rob Portman A Casual $1.12 Million

Senator Rob Portman is facing a tough reelection challenge, so Uncle Karl’s lending him a hand in the form of a $1.12-million ad buy.

Karl Rove’s One Nation just “bought $1.12 million worth of television, radio and digital ads advocating for jobs legislation sponsored” by Portman, according to Politico. The ads will run over the next several weeks in an attempt to give Portman a much-needed lift in the polls.

Not a bad haul for Portman: The $1.12-million assist significantly surpasses the $800K Rove dished out to both Roy Blunt and Joe Heck last week.

Apparently Karl Rove thinks Portman is just that much more vulnerable — Karl Rove can’t afford to lose a senator who so diligently prioritizes an out-of-state big money special-interest agenda over the needs of Ohio working families.

Background from Conservative Transparency:

One Nation is a nonprofit 501(c)4 addition to Karl Rove’s “constellation of Crossroads organizations.” The group “aims to advance well-constructed solutions to our country’s most […]

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Conservative Transparency: A Look At The Organized Right In 2014

In the last election, conservative outside groups spent more than $800 million attempting to defeat President Obama and secure Republican majorities in both houses of Congress. The unprecedented flood of cash failed to produce results on Election Day, but right-leaning donors and conservative groups have not given up on their efforts to obstruct progressive governance and implement a right-wing agenda.

Heading into the 2014 midterms, the network of well-funded organizations that comprise the “conservative movement” is larger than ever. Led by Charles and David Koch, the conservative donor class has increased its investment in the think tanks and advocacy groups charged with formulating conservative policy ideas and electing a government that will implement them. However, while the Koch brothers are well known to most political observers, it can be difficult to keep track of all the relevant players.

Bridge Project is committed to keeping a watchful eye on the conservative movement – and Conservative Transparency, an interactive database that tracks the flow of money on the right, is central to that mission. In addition to documenting the reported political contributions of major individual donors, Conservative Transparency uses the publicly available tax filings of conservative foundations and charities to provide hard-to-find information about the money behind think tanks and politically active nonprofits that do not have to disclose the sources of their funding.

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16 Men, Over $150 Million: The DNA Of A Conservative Megadonor

You haven’t heard of him because he doesn’t actually exist. But if you threw the 16 people who have given more than $2 million conservative super PACs this cycle into a genetic recombinator that would average them according to the amount each gave, you’d end up with a plutocrat straight out of central casting. He would be over 75 years old. He would be a white man. If you pooled his progenitors’ wealth rather than average it, he would be worth something like $51 billion. That fortune comes primarily from the casino and finance industries (but also draws on coal company holdings, real estate empires, entertainment promotion, and even a skin cream sales multi-level marketing scheme). If he were a country, he’d be about the 71st largest economy in the world, well ahead of places like Uruguay, Kenya, and Lithuania.

He’s fond of saying that President Obama will “eliminate free enterprise” in favor of a “socialist-style economy.” But despite that avowed free-market ideology, he’s used his wealth to tilt the playing field in his favor on everything from nuclear waste deals to custom-built regulatory shams in Texas, to complex business dealings in Macau. And his attitude toward his own workforce is far less generous than his philanthropic giving might suggest: His companies brag of being “entirely union-free” (though they’re quieter about their thousands of safety violations), one group of employees resorted to a hunger strike for pay equity with their English-speaking colleagues, and his primary revenue stream – the casino empire – is under investigation by the feds and mired in a nasty legal battle with his former business partner.

Here’s a rundown of the 16 real men who’ve combined to give over $150 million – just that we know about, and not counting reported donations to anonymously funded groups – to conservative super PACs during this cycle.

Read more after the jump.

American Future Fund: “Justice For Sale”

The American Future Fund (AFF) is deviating from the conservative line that President Obama wants to punish the rich with an ad accusing Obama of “protecting his Wall Street donors.” However, despite the ad’s suggestion that Obama is a tool of the big banks, Wall Street donors have flocked to the Republican Party in the wake of Democratic reform efforts. In this election cycle, no politician has benefitted from Wall Street’s largesse more than Mitt Romney, who has collected more than twice as much as the president from the financial sector.

Read more after the jump.