oligarchy party

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NYT talks about the burgeoning oligarchy party, using Tom Steyer (with a $1.5 billion fortune from hedge-fund management) as a rare left-wing example of money in politics:

Steyer's long-term goal was to build an organization called NextGen Climate Action, which could mirror and oppose the rival private interests who devoted their own fortunes to blocking any action on climate change. Chief among those rivals were Charles and David Koch, the brothers who run Koch Industries. [...]

Steyer, with his $50 million pledge, is one of the most deep-pocketed political arrivistes. But he has a long way to go to catch up with the Koch brothers, whose own group, Americans for Prosperity, already has political operations in every state that Steyer is contesting, along with 28 others. The group says it will spend at least $125 million this year.

I'm still not a huge fan of private money in politics, but at least this seems to be a useful counterweight to conservative fortunes.

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This page contains a single entry by cognitivedissident published on October 17, 2014 7:58 AM.

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