May 31st, 2008

Obama-hopemonger

From The Atlantic

In a sense, Obama represents a triumph of campaign-finance reform. He has not, of course, gotten the money out of politics, as many proponents of reform may have wished, and he will likely forgo public financing if he becomes the nominee. But he has realized the reformers’ other big goal of ending the system whereby a handful of rich donors control the political process. He has done this not by limiting money but by adding much, much more of it—democratizing the system by flooding it with so many new contributors that their combined effect dilutes the old guard to the point that it scarcely poses any threat. Goren­berg says he’s still often asked who the biggest fund-raisers are. He replies that it is no longer possible to tell. “Any one of them could wind up being huge,” he says, “because it no longer matters how big a check you can write; it matters how motivated you are to reach out to others.”

Source <-- The whole article is very interesting.