Thursday, January 12, 2012

Investments come with expectations

Andrew Romano has a big article in Newsweek about the Obama campaign machine and how it dwarfs the combined GOP field and is well beyond his fund raising in 2008. The war chest is big enough I wonder who he is beholden to? Are corporations funding Obama as well as GOP candidates? Does that mean he'll claim to be on our side, yet will do their bidding?

The article also discusses the various ways that the campaign will be using technology to reach out to voters.

The question of whose bidding Obama might do is wholly appropriate. The PAC Americans for Prosperity, the one funded by the Koch brothers, has published a scorecard with the five senators and 39 representatives that achieved an AFP 100% grade. Apparently, money well spent.

Mother Jones has an article on the 20 top givers in this election cycle. Of the 20, 17 gave to GOP and conservative candidates and PACs. At the top of the list is Sheldon Adelson, who got his wealth through Las Vegas casinos. Adelson gave $5 million to Gingrich's SuperPAC, which is doing all it can to take down Romney.

NPR did a story in the last couple days (alas, I didn't take note of time and can't find it now) that said a campaign with more cash than the opponents doesn't always win. The high correlation between campaign cash and victory does not imply causation. It could be the same qualities in a candidate that attracts votes also attracts dollars.

So, Obama's stash of cash does not mean he'll win.

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