HEDGE FUNDERS GET ACTIVE. Forbes. “With the formation of the Super PAC, [Louis] Bacon joins a growing rank of hedge funders who have decided to throw their financial weight into politics. This year Tom Steyer, founder of Farallon Capital Management, started his pro-environment Super PAC, NextGen Committee, which has taken on the Keystone XL pipeline, among other causes. Paul Tudor Jones, the founder of Tudor Investment Corp, a $13 billion hedge fund, has pledged to become more involved in public policy to fight for better public schools through his Robin Hood Foundation.”
DONOR DISCLOSURE. WFB. “The left-wing Center for American Progress (CAP) released a list of its corporate donors on Friday, but key details of its financial backing remain shrouded in secrecy.”
SUPER PAC LAUNCH. News here. “Former New Mexico Governor Gary Johnson is launching his own Super PAC, aiming to promote ‘Liberty-minded’ candidates throughout the country.”
SUPER PACS AND HUCK 16. WP:
“With the advent of the super PACs, it frankly is a lot easier to get the financial support. You can find a few people that really, really are capable of helping and want to,” [Huckabee] said. “One of the challenges I had was, I was out there raising it $2,500 at a time, and there weren’t many people supporting me who could afford the $2,500.”
BUSINESS AND CAMPAIGNS. Story here. “Democrat Sean Eldridge is making large investments in Hudson Valley businesses, but some say his venture capital firm acts as a de facto political operation designed to boost his congressional campaign.”
SEC MOVE FAULTED. HLS Forum. “Disclosure of political activity would deliver significant benefits to investors at a low cost.”
(C)(3) GUIDE ON ELECTION YEAR ACTIVITY UPDATED. Here via Steven Sholk.
IRS: MISSING THE MARK. WP. “Ultimately, the proposed Treasury-IRS rules would further chill nonprofit civic engagement and send a message to funders and groups that even long-standing and widely accepted nonpartisan behavior is ‘political.'”
GA: SUBPOENAS RECEIVED. AP. “The subpoenas show federal authorities want any documents related to an investigation by the ethics commission of Deal’s campaign finances and disclosures during his 2010 run for governor, but they reveal nothing about the scope of the inquiry.”
IA: CASE UPDATE. IPR. “An anti-abortion group is waiting to hear if the U.S. Supreme Court will reconsider a ruling on an Iowa campaign finance law. Iowa passed its statute in response to the landmark case known as Citizens United.”
ME: CASE EXPANDED. Maine Sun Journal. “The Maine Commission on Governmental Ethics and Election Practices decided a trio of out-of-state businessmen who funded the campaign and hired a political consultant in Virginia to produce campaign material and buy advertising could face steep civil fines for not reporting their activities as a political action committee.”
MD: GANSLER WON’T ADVISE. WP. “Maryland Attorney General Douglas F. Gansler has agreed to allow state election officials to seek outside legal counsel rather than rely on his office for advice on a fundraising issue that could have a significant impact on the ticket of his leading Democratic rival for governor.”
MI: STUDYING THE BILL. WILX. “The Governor has promised to bring more transparency and accountability to political campaigns in Michigan.”
MI: ROBOCALL DISCLAIMERS. MLive.com. “Michigan’s Republican-led House on Wednesday approved a controversial campaign finance bill, but not before making two notable changes to the Senate legislation.”
MO: NIXON WANTS LIMITS. KMOX. “Gov. Jay Nixon is joining several Kansas City-area lawmakers in calling for ethics legislation that includes limits on campaign donations.”
NY: FINE IN THE CITY. NYDN. “James Wu, a business consultant who ran in the 2009 Democratic primary for Council District 20 in Queens, got jammed up when his campaign submitted false documents regarding more than $20,000 provided by the candidate’s brother. Team Wu first reported the money as a loan, but later backtracked and characterized it as an advance payment to a vendor.”
VT: SUPER PAC RIPPLES. Rutland Herald. “An appeals court ruling this fall on contributions to super PACs may help legislative negotiators resolve differences over stalled campaign finance reforms and have a bill ready for lawmakers to consider in January.”
VA: INAUGURAL FUNDING. Daily Press. “The big givers include some old reliables in the Virginia political fundraising scene: Dominion Reserouces has given $50,000, same as it gave McDonnell. West Legend Corp. a New Jersey real estate developer that also gave to McAuliffe’s election campaign, gave $50,000 as well.”
HAVE A GREAT DAY.