Spending of OVER ONE BILLION makes this the most expensive Presidential campaign in world history. Rick Hasen at Election Law Blog had a link to a fascinating Bloomberg article on the growth of an industry of start-up companies focused on gaining a piece of the money being spent. The effect of Citizens United has been to unleash unlimited amounts of money from often undisclosed sources into our political system bringing some unintended consequences in the process. From Election Law Blog:
Bloomberg has posted this post, the first in a four-part series called: “Making Millionaires: The 2012 Gold Rush,” examining who is making money off the most expensive presidential campaign in history.
The original post from Bloomberg can be found here but take a look at these excerpts:
The rapid expansion of Targeted Victory showcases the rise of a new professional, political class: a core group of young technology experts who are shunning traditional campaign titles, starting companies and making millions off the most expensive presidential campaign in history. They are cutting a path similar to the one etched by television ad makers in the 1980s, with a dose of Silicon Valley and the dot-com boom’s edginess.
A bit more on the issue from the article on Bloomberg:
Federal candidates and super-PACs have spent more than $46 million so far this election cycle for the services of just three firms — Targeted Victory and the two major Democratic tech operations, Blue State Digital and Bully Pulpit Interactive, according to a Center for Responsive Politics analysis of Federal Election Commission reports conducted for Bloomberg News.
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