Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

PoliticAverse

(26,366 posts)
Sat Mar 19, 2016, 03:46 PM Mar 2016

How 'ghost corporations' are funding the 2016 election.

Two days before Christmas, a trust called DE First Holdings was quietly formed in Delaware, where corporations are required to reveal little about their workings. A day later, the entity dropped $1 million into a super PAC with ties to Jersey City, N.J., Mayor Steven Fulop, a Democrat considering a gubernatorial bid.

The trust, whose owner remains unknown, is part of a growing cadre of mystery outfits financing big-money super PACs. Many were formed just days or weeks before making six- or ­seven-figure contributions — an arrangement that election law experts say violates a long-standing federal ban on straw donors.

But the individuals behind the “ghost corporations” appear to face little risk of reprisal from a deeply polarized Federal Election Commission, which recently deadlocked on whether to even investigate such cases.

Advocates for stronger campaign-finance enforcement fear there will be even more pop-up limited liability corporations (LLCs) funneling money into independent groups, making it difficult to discern the identities of wealthy players seeking to influence this year’s presidential and congressional contests.

Read the rest at:
https://www.washingtonpost.com/politics/how-ghost-corporations-are-funding-the-2016-election/2016/03/18/2446e526-ed14-11e5-a6f3-21ccdbc5f74e_story.html

1 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
How 'ghost corporations' are funding the 2016 election. (Original Post) PoliticAverse Mar 2016 OP
This is only going to get worse. highoverheadspace Mar 2016 #1
 

highoverheadspace

(307 posts)
1. This is only going to get worse.
Sat Mar 19, 2016, 06:40 PM
Mar 2016

Corporations will buy whatever candidate they like from here on out. Sad times in the USA. We are no longer a democracy.

Latest Discussions»General Discussion»How 'ghost corporations' ...