|The latest anti-Obama ad, which blames Obama for rising gas prices, is being financed in part by a hedge fund manager who has pumped up the price of oil through excessive speculation.
Karl Rove just launched the first nationwide ad against Obama. The ad, called 'Too Much,' is being aired by Crossroads GPS, a nonprofit controlled by Rove that does not have to disclose a single donor. Despite oil production levels at the highest point in recent years and Obama's move to open up new areas to domestic drilling, the ad knocks Obama for high gas prices. Unlike ordinary Super PACs, which fall under F.E.C. disclosure requirements, Crossroads GPS is organized as a 501(c)(4), meaning it never has to divulge any donor information. But thanks to the work of Peter Stone, an investigative journalist, the public now knows the funder to be hedge fund manger/oil speculator, Paul Singer.