According to THIS SITE, "A January 2010 Supreme Court decision (Citizens United v. Federal Election Commission) permits corporations and unions to make political expenditures from their treasuries directly and through other organizations, as long as the spending -- often in the form of TV ads -- is done independently of any candidate.
In many cases, the activity takes place without complete or immediate disclosure about who is funding it, preventing voters from understanding who is truly behind many political messages. The spending figures cited are what the groups reported to the FEC; it does not account for all the money the groups spent, since certain kinds of ads are not required to be reported."
CLICK HERE to see statistical data about spending patterns and other vital information.
The Wall Street Journal also featured an article about who has been funding the coming elections. If only we had such statistics in Malaysia! Perhaps MPs or the EC should lobby for this.
According to that article:
While lawyers are top non-retired backers of President Barack Obama’s campaign, the largest backers of Republican contender Mitt Romney are in the securities and investment industry. Lawyers/law firms have contributed about $22.5 million to Obama’s campaign, while the securities and investment industry has donated about $18.3 million to Romney’s campaign, according to recent data from the Center for Responsive Politics, a nonprofit research group based in Washington. “Clearly, the financial industry thinks that Romney is one of them. He came from their world, he understands it very well, and they believe that he is going to be more sympathetic to their interests,” said Viveca Novak, editorial and communications director at the Center for Responsive Politics. She added that parts of a wide variety of sectors support Obama. “He is not as clearly identified with any one sector as Romney is,” Novak said.
CLICK HERE for the rest of the entry.
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