Subject ERA OF FAT-CAT INFLUENCE IN WASHINGTON Written 450 pm Feb 25, 1991 by christic in
Subject: ERA OF FAT-CAT INFLUENCE IN WASHINGTON
Written 4:50 pm Feb 25, 1991 by christic in cdp:christic.news
BUSH'S "TEAM 100": A NEW ERA OF FAT-CAT INFLUENCE IN WASHINGTON
Project Censored: Nomination for the "Ten Best Censored Stories of 1990"
More than $25 million, raised in individual $100,000 contributions to help
the 1988 Bush election effort, has opened a new era of fatcat influence in
Washington. The $100,000 contributions were raised in a bigmoney fund
raising drive called "Team 100" by Robert Mosbacher, who was chief fund
raiser for Bush's 1988 campaign and is now Commerce Secretary.
These contributions are part of what is known as the soft money system
which, according to critics, "is nothing more than a laundering operation
designed to bring illegal federal contributions into federal elections."
According to a special investigation by Common Cause Magazine, the Bush
administration "makes no pretense about maintaining an arms length
relationship with the Team 100 donors. They are wined and dined at the White
House and at events in their honor. They are given special briefings and
regularly hobnob with ranking Bush appointees."
Mosbacher's Team 100 is a veritable who's who of American business. Those
contributing $100,000 include 66 in investment and banking community
(including Charles Keating and Donald Trump), 58 in real estate and
construction, 17 in the oil industry, 15 in food and agriculture, and others
in the entertainment, cable, insurance, steel and auto industries, making
249 in total.
Almost across the board, Team 100 members or the companies they are with
want something from the government. According to the article, many
contributed their $100,000 at a time when they had significant business or
regulatory matters pending with the federal government, or knew such matters
would likely come up during the Bush Administration.
Bush's Team 100 includes: oil companies or their executives who are
interested in opening up offshore drilling in California and Florida; two
individuals in real estate who surfaced last year during investigations at
the Department of Housing and Urban Development (HUD) for allegedly
distributing special favors to friends and political supporters; and seven
individuals who since have been nominated for ambassadorships by Bush,
including two who were criticized by the American Academy of Diplomacy as
being unqualified for the posts.
Team 100 did not end with the 1988 election. Corporate executives and
others on Team 100 are being asked to continue giving big money. "They're
still giving to the party, it's not like they dropped off after the
presidential year," Mary Matalin, chief of staff of the Republican National
Committee, told Common Cause. According to Matalin, Team 100 members are now
giving $25,000 a year and in 1992 will give an additional $100,000; so, but
the time Bush runs for reelection, donors who stay on Team 100 will have
contributed at least $275,000.
The ongoing corruption in political campaign financing, as revealed by
Common Cause Magazine, indicates that the mass media have yet to fully
inform the American people of the scope and impact of this corruption.
SOURCE: COMMON CAUSE MAGAZINE, Mar/Apr 1990, "All the President's Donors,
by Jean Cobb, Jeff Denny, Vicki Kemper, and Viveca Novak, pp 21-27, 38.
End of text from cdp:christic.news
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