The Last Best Hope?
Dark Money: Can billionaires buy elections in America?
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Episode notes
Wealthy Americans have always found ways of spending money on political campaigns in the presumed expectation of a return on their investment. But in 2010, the Supreme Court’s Citizens United decision ruled that legislation that restricted how much money could be spent on influencing elections was unconstitutional, opening up vast new possibilities for wealthy individuals and corporations to support candidates. The Court's argument was that to stop someone spending as much as they liked to push an agenda or a candidate was a violation of the first amendment right to free speech. The official campaigns still have to be transparent about how much money they’re raising and from whom, but there are now effectively no limits at all on what people can spend trying to influence the outcome of an election in indirect ways. That’s where so-called “Super PACs” come in (the PACs is an acronym standing for Political Action Committee). It turns out that it’s really easy to hide a political donation by giving it a Super PAC rather than directly to a candidate. So the problem today – in the post-Citizens United world -- is not only the amount of money being spent but that we no longer know who’s spending it.
Presenter: Adam Smith, Orsborn Professor of US Political History at Oxford and Director of the Rothermere American Institute.
Guests:
Ciara Torres-Spelliscy, a Brennan Center fellow and professor of law at Stetson University College of Law, where she teaches courses in election law. Her book Corporatocracy: How to Protect Democracy from Dark Money and Corrupt Politicians Hardcover – published by NYU Press- is out in November.
Brody Mullins, a Pulitzer Prize-winning investigative reporter. He spent nearly two decades covering the intersection of business and politics for The Wall Street Journal. He’s the co-author of The Wolves of K Street The Secret History of How Big Money Took Over Big Government
The Last Best Hope? is a podcast of the Rothermere American Institute at the University of Oxford. For details of our programming go to rai.ox.ac.uk
Producer: Emily Williams. Presenter: Adam Smith
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