| The casino mogul betting $5 million on Newt Gingrich, Wall Streeters investing in Mitt Romney, Obama's Hollywood pal, and the other 1 percenters trying to sway the race. The 2008 presidential election was the most expensive on record, with candidates, parties, and outside groups dropping $5.3 billion. This year's contest promises to break that record, due in part to the new rules of political fundraising: Donors can pour unlimited cash into outside-spending groups that can freely boost or attack the candidates of their choice. Which means that wealthy donors who have maxed out on their gifts to candidates or just want a lot more bang for their political buck can write massive checks to any of the new super-PACs that are popping up as proxies for politicians and parties. |
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At motherjones.com
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