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Forum Post: I agree with John McCain - do you ?

Posted 8 years ago on March 29, 2012, 10:18 p.m. EST by bensdad (8977)
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(Reuters) - The U.S. campaign finance system is so heavily influenced by big-spending interest groups and wealthy individuals that it will take "huge scandals" to change it - and those scandals are looming, Senator John McCain said Tuesday.

McCain, speaking at a Reuters forum on money in politics, gave a blistering critique of U.S. Supreme Court justices over a 2010 ruling that lifted limits on political fundraising and spending by corporations, unions and other non-campaign groups by equating their rights to those of individual citizens.

The decision led to the creation of "Super PACs," political action committees that have had outsized impacts on state and local political campaigns and are changing the face of the 2012 presidential election by dumping roughly $100 million into ads, most of which have attacked candidates.

"What the Supreme Court did is a combination of arrogance, naivete and stupidity the likes of which I have never seen," said McCain, one of the authors of a now partially overturned law that restricted political spending by corporations and other outside groups.

"I promise you, there will be huge scandals," McCain said, "because there's too much money washing around, too much of it we don't know who's behind it and too much corruption associated with that kind of money. There will be major scandals."

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[-] 1 points by francismjenkins (3713) 8 years ago

Funny, McCain was obviously the co-author of McCain Feingold, soon after the 2008 financial crisis he was quoted calling for the restoration of Glass Steagall, he was always the republican most hated by far right evangelicals (e.g. haters like Pat Robinson), as soon as he faced a real challenge for reelection from the right, he became MIA.

Nevertheless, I also agree with John McCain, assuming it's the same John McCain who co-authored McCain Feingold, who advocated restoring Glass Steagall, and who's been a voice of reason against religious extremism on the right. He spent his career, in many cases, fighting for the right things. I'm afraid though, he's at the end of his career, and there's no republicans like him around anymore. Not that democrats have exactly been the champions of the 99% (at least not lately).

[-] 1 points by Gillian (1842) 8 years ago

Speaking of scandals...did you hear about the investigation into the Vatican's money laundering? http://articles.businessinsider.com/2012-02-09/europe/31040509_1_anti-money-laundering-law-vatican-finances-italian-tv

Apparently, the investigation continues and they are discovering more injustice.

Duh...am I really surprised that the most powerful, political and religious regime is corrupt? Not really surprised at all actually.

[-] 1 points by April (3196) 8 years ago

He obviously has not had much success in moving Republicans towards public financing. As they continue to endorse nothing more than "transparency", which simply highlights who has legally bribed them.

Maybe this is his warning. The best thing that could happen is more leaks, ie: Jack Abramoff. Except the tables need to be turned.