A Common-Sense Proposal On Corporate Campaign Finance

Two Maryland Dems wrote an Op-Ed in the WaPost that seems to make a lot of sense to me. Since "the corporation" broadly defined, is a creature of "state" creation (rather than federal), states have the right and duty to regulate them. A provision of their proposal would:

"Require that any corporate executives or union leaders seeking to make political campaign expenditures first obtain a majority vote of shareholders or union members approving the specific expenditure, which would guarantee that the move would reflect the will of shareholders or union members, not the whims of the chief executive or union leader."

Presumably they mean campaign expenditures from corporate coffers (as opposed to their own, private expenditures), but the overall gist of their proposal seems to make sense to me. I continue to believe that "the corporation" does in fact, have a right to free speech--as it is a group of so ennobled citizens acting together to achieve commercial ends. That said, this proposal creates conditions under which such speech would actually represent a consensus of those involved, rather than just the will of a CEO or a Board of his/her cronies. Same goes for Unions.

I support this.

E.J. Dionne Remains A Hyperventilating Girly-man

Dionne applauds a "bi-partisan" push to "clean up" the Supreme Court's campaign finance mess. Interesting, given that 1) no Republicans have yet signed on to the legislation and 2) the "mess" was created by Congress knowingly passing legislation thought by many (look at the legislative history/floor debate) to be blatantly unconstitutional. Again E.J.--tell me exactly what all those millions in campaign support to President Obama bought Wall Street?

A Great Post On Campaign Finance From Cato

Can be found here.

Key graph:

"The next time someone tells you that donations are “legalized bribery,” ask them why Obama took $18 million from Wall Street and gave them in return endless abuse and hostile legislation.

Quid pro quo, indeed."

Congressional Black Caucus--Shake-down Artists

Corporate money in politics is bad, bad, bad--except of course, if it is lining the pockets of the Congressional Black Caucus and its "interests" and "charities". Good on the New York Times for bringing this up.

E.J. Dionne Hyperventilates

E.J. Dionne is calling for Americans to take to the ramparts after the Supreme Courts "reckless" decision on campaign finance last week. Typical over the top, emotional, factless bloviation (and I oughta know!) from the WaPosts chief mouthpiece for the Administration.

But there is something here--Dionne advocates for having corporate Chief Executives appear in ads that they sponsor to take responsibility for what is in the ad--like politicians do. I'm open to that--in fact, the more I think about it, the more I like it. Then, we'll have the opportunity to let the market punish corporations for their views.