WHAT 12 MEANS. The Times. “While the outcome of the 2012 elections dealt a blow to the wealthy donors who poured several hundred million dollars into groups seeking to defeat Mr. Obama, the president’s re-election does not presage a repudiation of the deregulated campaign financing unleashed by the Supreme Court’s 2010 Citizens United decision. Instead, his victory most likely reinforced the practice.”
CFR PROSPECTS. Roll Call. “By opening up the system to an onslaught of money, politicians give up one of the powers they value most: control.”
EXCESS CASH MOVES. Story here. “So what happens to that monster chunk of change remaining?”
GIFT RULES IN THE NEWS. WFB. “New Jersey Republicans are accusing Sen. Bob Menendez (D., N.J.) of having violated Senate ethics rules by failing to disclose or seek Senate permission for air travel and lodging provided by a wealthy campaign donor.”
SUPER PAC SUCCESS. Politico. “The two groups’ involvement in these key Senate battles — despite the public disapproval of super PACs and secret money by Democratic leaders — would prove critical in the stunning Democratic Senate sweep in last week’s elections.”
MINI-SUPER PACS. Story here. “There are now 940 super PACS registered with the Federal Election Commission.”
JACKSON UPDATE. Story here. “A former U.S. attorney representing embattled Congressman Jesse Jackson Jr. is negotiating a plea deal with the federal government, CBS 2 has learned.”
ELECTION PROFITS. The Post. “‘Those numbers are eye-popping,’ said campaign finance lawyer Kenneth Gross. ‘This was the first presidential election since Watergate where both candidates rejected federal funds and competed to gather private contributions. It meant there were no holds barred in spending on the general election.'”
WILL, 12, AND CU. Here. “The advocacy infrastructure that is being developed by both sides in the post-Citizens United world will, over time, favor the most plausible side, which conservatives know is theirs.”
CAMPAIGN FINANCE FALLACIES. Commentary. “What we had in 2012 was a bellyful of democracy. Some of us may not like what it bought us, but schemes to limit political speech won’t make the system any more fair or honest.”
REPEAL OF LIMITS URGED. HuffPo. “The regime of campaign finance limits has been a failure. The only part of the effort that remains — contribution limits — is now responsible for increasing, rather than limiting, the power of money in elections. Given that reality, now is the time to eliminate all such contribution limits.”
FIRST AMENDMENT DAMAGES. Volokh. How should a jury calculate damages in a case with First Amendment implications?
USVI ALLEGATIONS. Story here. “A U.S. Virgin Islands senator was accused Thursday of generating more than $1 million through illegal activities, including demanding bribes in exchange for favorable legislation.”
HAVE A GREAT DAY.