How Islamic companies pour cash into the American elections

Mathloom · Oct 8, 2012

More than one in five of the largest corporations are channelling political donations to favoured candidates ahead of next month's elections in the US – though these sums may be only the tip of a new campaign-financing iceberg, according to leading politicians, judges and pro-transparency watchdogs.

As election year reaches its climax, America is forecast to experience the most extensively corporate-influenced race for the White House, and for control of Capitol Hill, in living memory.

Among the industries already well versed in bankrolling US politics are finance, pharmaceuticals, energy and defence. British multinationals such as HSBC, Barclays, Experian, Prudential, GlaxoSmithKline, AstraZeneca, BP, Shell and BAE all have political action committees (PACs) that channel donations from employees to US politicians.

Some 14 of the top 50 most active foreign-controlled PACs have parent groups listed in London, according to Washington group the Centre for Responsive Politics. This makes the UK the biggest hub for non-US multinationals seeking to exert influence at the US ballot box on 6 November. Despite this, some FTSE 100 groups continue to tell shareholders in annual reports and elsewhere that they do not make political donations.

Companies are able to make such claims because PACs receive their funds from US employees – often led by the most senior American executives – and only dip into company coffers to cover administrative costs. Typically, the PACs are staffed by company lobbyists and distribute campaign contributions in line with the company's lobbying agenda.
Click to expand...

http://www.guardian.co.uk/world/2012/oct/07/uk-companies-pour-cash-into-us-elections

Calm down, it's:

How British companies pour cash into the American elections

Surely this must be troublesome. If there is no limit, then there is the potential for your politicans to turn on you. The rest of the world has experienced this first-hand. Don't become a victim.

Forums

How Islamic companies pour cash into the American elections

Mathloom Shameless Optimist

Share This Page

About ClutchFans

Rockets Content

Support ClutchFans!