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Monday, September 27th, 2010

Billionaires Give 91 Percent of Funds for Rove-tied Group

Author:     JUSTIN ELLIOT
Source:     Salon.com
Publication Date:     Monday, Sep 20, 2010 18:30 ET
Link: Billionaires Give 91 Percent of Funds for Rove-tied Group
Stephan:   Under all the family values agitprop lies a deeper truth, the real trend going on in America today. The Tea Party is a genuine grassroots movement, in the sense that it capitalizes on the real fear and anger of ordinary older conservative Whites. But it is a wholly cynical exercise in realpolitik on the part of very rich individuals and the corporate virtual states they control. Their goal is to change fundamental economic and regulatory policies in their favor, while operating under the smoke screen of family values which, from the perspective of the rich, are convenient but meaningless issues. Political junk food to keep the masses distracted. As Deep Throat said 30 years ago, 'Follow the Money.'

New FEC filings show that American Crossroads, the Karl Rove-backed group that is pouring money into attack ads targeting Democrats around the country, continues to be funded virtually entirely by billionaires.

In August, American Crossroads raised $2,639,052. Fully $2.4 million of that — or 91 percent — came in the form of gifts from just three billionaires.

We’ve previously reported that the group is getting a staggering amount of support from billionaires, several of whom made their fortune in the energy industry and live in Texas. Last month Trevor Rees-Jones, president of Dallas-based Chief Oil and Gas, contributed another $1 million to American Crossroads, on top of the $1 million he gave earlier this year. Fellow billionaire Robert Rowling, CEO of the company TRT Holdings, also gave Crossroads his second $1 million donation in August.

The only new name on the list is American Financial Group, a Cincinnati-based firm owned by nonagenerian Carl Linder. Forbes put Linder’s net worth at $1.7 billion this year, a fortune built up through the growth of United Dairy Farmers. He previously owned Chiquita and currently owns a stake in the Cincinnati Reds. American Financial Group gave American Crossroads $400,000 last month.

Another new billionaire to […]

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