Foreign Firm Gives $1 Million to Romney Super-PAC

[trailmonkee]

Source: Mother Jones/Center for Public Integrity

This story first appeared on the Center for Public Integrity's website.

A million-dollar donation by a foreign-owned corporation to a Republican super-PAC has raised legal concerns and opened up the controversial Citizens United Supreme Court decision to new criticism.

Restore Our Future, the super-PAC supporting Republican Mitt Romney's run for president, received a $1 million donation in mid-August from reinsurance company OdysseyRe of Connecticut, a "wholly-owned subsidiary" of Canadian insurance and investment management giant Fairfax Financial Holdings Limited.

Fairfax Financial's founder is Indian-born V. Prem Watsa. Watsa serves as CEO and chairman and owns or controls 45 percent of the company's shares. He is also the chairman of the board of OdysseyRe, the American subsidiary.

The law says that any foreign national is prohibited from "directly or indirectly" contributing money to influence US elections. That means no campaign donations, no donations to super-PACs, and no funding of political advertisements.

-snip-

The company is the subject of an IRS whistleblower's complaint, according to the New York Times, alleging that it received an unwarranted tax break of $400 million between 2003 and 2006, a claim Fairfax disputes.

The $1 million donation will likely be used for attack ads against President Barack Obama. And with less than five weeks until Election Day, $1 million is no insignificant amount. It's enough to buy at least a week or two's worth of ads in critical media markets. It also represents one-seventh of the money Restore Our Future collected in August.

Lovell said the company decided to donate because it favors Romney's stance on tax policy.

Read more: http://www.motherjones.com/politics/2012/10/canadian-foreign-donation-super-pac-restore-our-future

[EC]

1. Okay Alito

what do you say now?

[wryter2000]

2. Which one was it? Alito?

Who mouthed "not true" at the state of the nation address? Moron.

[Jackpine Radical]

3. Corporations are people, my friend.

Except when it comes to exempting them from burdensome regulations.

[saidsimplesimon]

9. Indeed, it's a failure

We can choose to stand up, or stand down to the international, corporate attack on democratic principles, and values.

IMHO, which side are you on?

[Jackpine Radical]

16. "Which side…" Precisely.

"Which Side Are You On?"

Come all you good workers
Good news to you I'll tell
Of how the good old union
Has come in here to dwell

Which side are you on boys?
Which side are you on?

My daddy was a miner
He's now in the air and sun
He'll be with you fellow workers
Until the battle's won

Which side are you on boys?
Which side are you on?

They say in Harlan County
There are no neutrals there
You'll either be a union man
Or a thug for J. H. Claire

Which side are you on boys?
Which side are you on?

Oh workers can you stand it?
Oh tell me how you can
Will you be a lousy scab
Or will you be a man?

Which side are you on boys?
Which side are you on?

Don't scab for the bosses
Don't listen to their lies
Poor folks ain't got a chance
Unless they organize

Which side are you on boys?
Which side are you on?

[mercuryblues]

4. Ginsburg called this one

http://www.dailycensored.com/2009/11/07/foreign-contributions-and-the-supremes-overdue-decision-on-campaign-funding/

Justice Ginsburg created a poison pill by putting on notice any Supreme Court majority that overturns the lower court decision: your actions will allow foreign funding for U.S. campaigns. Any foreign entity could simply exercise an existing or newly acquired ownership position in a U.S. corporation to demand services from that corporation’s latest wholly owned candidate.

The current bans on direct corporate contributions and contributions from foreign entities would become meaningless. The influence of the “corrosive and distorting effects of immense aggregations of wealth” obtained through the control of puppet politicians would submit all of us to the vicissitudes of balance sheets and the salary and bonus demands of board chairmen all over the world (to an even greater degree than we now experience).

Supremes Green Light Foreign Money in U.S. Elections! How well will that fly with citizens in the current political climate? Does the Supreme Court even care?

[Uncle Joe]

5. The traitorous five should be impeached for betraying the nation and subverting our Constitution

to foreign interests.

Those "Justices" would have to be brain dead not to know this could happen.

Thanks for the thread, trailmonkee.

[defacto7]

6. I was waiting for something like this.

I was only time before foreign interests became involved in the buyout of the US.

So... does this mean we can assimilate Canada into the United States now? We can make it the 51st state.

Then again, maybe it means we are a new province of Canada.

Citizens United is treason.

[murphyj87]

10. We'll .....

We'll force universal single payer health care and strong banking and corporate regulation on you when we take you over and make you the 11th province. It also means you'd be forced to take Family Allowance ($100 per month per child under 18) and Old Age Security Pension ($500+ per month for those 65 and over) over and above your Canada Pension. Being the 11th province might not be so bad.

[annabanana]

13. I heartily welcome our new Canadian Overlords!

Seriously.

[defacto7]

14. Wow...

It makes my mouth water!!! OK, you have my permission to take over! Go ahead, buy the election... wait, that would mean Romney.

Never mind.

[McCamy Taylor]

7. Everyone under indictment by the feds is giving money to Romney SuperPacs.

The Gang of Five on the Supreme Court must be so proud of themselves. They made an easy way for the rich to buy pardons.

[They_Live]

8. Yes it was Alito

the clip...

[myrna minx]

11. Yes, Alito, yes. This is what you wrought.

[annabanana]

12. Dark Money is an invitation to this kind of abuse.

I'm sure Hitler would have thrown lots and lots of money into our elections in the 30's and 40's if he could have.

I expect that China and Saudi Arabia and Israel and God knows who else is doing so NOW.

[defacto7]

15. But what's there to buy?

There's only so much you can buy no matter how much you have to spend. And what will they sell? More lies?

I used to think that more money means better coverage, but I don't think that anymore. People are getting wiser and the cat's out of the bag on the repugs. If people think money is god, their god is rather useless at the moment.

[bushisanidiot]

17. Breaking the law!

Mitt lies cheats and steals. He doesn't have any idea how to operate a business the honest way.