WRAP-UP FROM THE TIMES. Here. “Friday overflowed with news about the inexorable influence of money in politics, none of it good. Every aspect of the post-election financial reports showed how this year’s campaigns took an irreversible turn for the worse.”
OCE, FEC, AND THE CLIFF The Times. “As Congress waits for negotiators to resolve the budget standoff, there is other worthy business that could be accomplished, particularly in political ethics.”
DETAILS FOR DONORS. The Times. “The financing arrangements are a departure from Mr. Obama’s policy in 2009, when he refused corporate donations altogether and capped individual contributions at $50,000. As in 2009, Mr. Obama will not be accepting money from lobbyists or political action committees.”
INAUGURAL CORPORATE FUNDING. The Post. “President Obama’s inaugural committee will accept corporate donations this time around, reversing a policy from four years ago banning such contributions, a spokeswoman said Friday.”
MCCONNELL WARNS. Here. “Senate minority leader Mitch McConnell, R-Ky., is so set on deflecting any new campaign finance reform laws that he is reportedly warning House Republicans against signing on to any bipartisan initiative to reform the system.”
L PAC RACE. The Hill. “Nearly a dozen newly elected members of Congress have set up leadership fundraising PACs before being sworn into office, with most planting the flag weeks before Election Day.”
CFR IN HBR. Here. “For all the talk of the fiscal cliff, however, I believe the US is facing a much more serious problem, one that has simply not been talked about at all: corruption. But this isn’t the overt, ‘bartering of government favors in return for private kickbacks’ corruption. Instead, this type of corruption has actually been legalized. And it is strangling both US competitiveness, and the ability for US firms to innovate.”
LAWYER/DONOR IN THE NEWS. Seattle Times. “A lawyer in Tennessee who is mysteriously linked to millions of dollars in campaign contributions steered to congressional candidates doubled his investments in the weeks before Election Day and quietly funneled $6.8 million more to a prominent tea party group, according to new financial statements filed with the government.”
AL: ATTACK ALLEGED. Story here. “Attorneys for convicted casino lobbyist Jarrod Massey are demanding information after claiming Thursday their client was assaulted while serving time in a federal prison in Montgomery.”
TX: BLACKOUT BEGINS. Story here. “Ladies and gentlemen, close your checkbooks. Sunday starts the blackout on campaign contributions to Texas state officeholders, a period of pecuniary protection that will last until after the legislative session that begins in a month.”
TX: NEW FIRM. Story here. “Former Arlington state Rep. Kent Grusendorf has a new gig.”
HAVE A GREAT DAY.