Million Dollar Donors Fuel Super PACs

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General Information

Source:
NBC News Web Exclusive
Creator:
Michael Isikoff
Event Date:
02/02/2012
Air/Publish Date:
02/02/2012
Resource Type:
Video News Report
Copyright:
NBCUniversal Media, LLC.
Copyright Date:
2012
Clip Length:
00:02:11

Description

Reports filed with the Federal Election Commission on January 31, 2012, are providing a glimpse of the impact that unlimited donations to Super PACs are having on the 2012 presidential race. As NBC's Michael Isikoff reports, the filing reveals that just a few wealthy donors and companies are behind the millions of dollars pouring into Super PACs.

Citation

MLA

"Million Dollar Donors Fuel Super PACs ." Michael Isikoff, correspondent. NBC News Web Exclusive. NBCUniversal Media. 2 Feb. 2012. NBC Learn. Web. 8 September 2018.

APA

Isikoff, M. (Reporter). (2012, February 2). Million Dollar Donors Fuel Super PACs . [Television series episode]. NBC News Web Exclusive. Retrieved from https://archives.nbclearn.com/portal/site/k-12/browse/?cuecard=56874

CHICAGO MANUAL OF STYLE

"Million Dollar Donors Fuel Super PACs " NBC News Web Exclusive, New York, NY: NBC Universal, 02/02/2012. Accessed Sat Sep 8 2018 from NBC Learn: https://archives.nbclearn.com/portal/site/k-12/browse/?cuecard=56874

Transcript

Million Dollar Donors Fuel Super PACs

FRANK VANDERSLOOT: A solid business opportunity with no risks, where no one gets hurt…

MICHAEL ISIKOFF, reporting:

Frank VanderSloot owns Melaleuca, a marketing company that recruits people to sell hundreds of wellness products. An outspoken conservative and devote Mormon, VanderSloot’s company pumped one million dollars into a Super PAC backing Mitt Romney helping to pay for a barrage of attack ads in the Florida Primary.

VANDERSLOOT: There’s absolutely something we want out of the next president. We want good government. We want somebody in there that understands business.

ISIKOFF: A report filed with the Federal Election Commission late Tuesday shows that million dollar donors like VanderSloot are pouring money into the Romney dollar Super PAC, “Restore our Future,” taking advantage of new rules allowing unlimited donations to such groups - One million dollars from an Oklahoma holding company of Construction Magnate Francis Rooney, three million dollars from Romney’s former colleagues at Bane Capital, one million dollars each from 4 Wall Street Hedge Fund moguls including Julian Robertson, a stanch opponent of President Obama’s economic policies.

JULIAN ROBERTSON: Stimulating, stimulating, stimulating, which is another synonym for spin, spin, spin…

ISIKOFF: “Restore our Future” raised 30 million dollars last year far exceeding the 2.1 million dollars reported by the Pro-Gingrich Super PAC, “Winning our Future” but that was before it got 10 million dollars from Casino-mogul Sheldon Adelson and his wife. The unaffiliated Republican Super PAC, “American Crossroads,” run by Karl Rove reported raising 51 million dollars including 7 million dollars from a single donor Texas billionaire Howard Simmons.

SHEILA KRUMHOLZ (Center for Responsive Politics): These numbers are staggering. What it shows us is that a very small number of select donors can have a big impact on the election and wield incredible cloud in Washington.

ISIKOFF: The Super PAC backing President Obama announced it has raised 6.7 million dollars so far but the Obama Campaign and the Democratic National Committee reported raking in 224 million dollars giving the president plenty of cash to fight the GOP Super PAC attacks ahead. Michael Isikoff, NBC News, Washington.