Money talks to power in the Obama White House

In a report for iWatch News, authors Fred Schulte, John Aloysius Farrell and Jeremy Borden point out that:

More than two years after President Obama took office vowing to banish “special interests” from his administration, nearly 200 of his biggest donors have landed plum government jobs and advisory posts, won federal contracts worth millions of dollars for their business interests or attended numerous elite White House meetings and social events, an investigation by iWatch News has found.

And:

As a candidate, Obama spoke passionately about diminishing the clout of moneyed interests and making the White House more accessible to everyday Americans. In kicking off his presidential run on Feb. 10, 2007, he blasted “the cynics, the lobbyists, the special interests,” who he said had “turned our government into a game only they can afford to play.”

But, President Obama rewarded his backers:

Overall, 184 of 556, or about one-third, of Obama bundlers or their spouses joined the administration in some role. But the percentages are much higher for the big-dollar bundlers. Nearly 80 percent of those who collected more than $500,000 for Obama took “key administration posts,” as defined by the White House. More than half the ambassador nominees who were bundlers raised more than half a million.

The big bundlers had broad access to the White House for meetings with top administration officials and glitzy social events. In all, campaign bundlers and their family members account for more than 3,000 White House meetings and visits. Half of them raised $200,000 or more.

Some Obama bundlers have ties to companies that stand to gain financially from the president’s policy agenda, particularly in clean energy and telecommunications, and some already have done so. Level 3 Communications, for instance, snared $13.8 million in stimulus money. At least 18 other bundlers have ties to businesses poised to profit from government spending to promote clean energy, telecommunications and other key administration priorities.

What, given these facts, does the future hold. iWatch News concludes its article by telling us that:

With an eye toward the re-election campaign, the White House peppered the guest list for the June 7 state dinner honoring German Chancellor Angela Merkel with bundlers. Among the 200 guests at the Rose Garden event were a dozen bundlers, most with their spouses, including the Bainums.

And so it goes….

One Response to Money talks to power in the Obama White House

  1. Pingback: The White House responds to the iNews report « All Tied Up and Nowhere to Go

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