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The Big Money and What It Means in Election 2016
by Nomi Prins
Posted February 4, 2016

money in politicsHonestly, you couldn’t make this stuff up. How do you respond to a rampaging bull of a billionaire in the political arena? In America in 2016, the answer is obvious. You send in not the clowns, but the matador: another billionaire, of course. So Michael Bloomberg is now threatening to enter the race as a third-party candidate. According to the New York Times, he’s considering spending at least $1 billion of his $36 billion (or is it almost $49 billion?) fortune if it looks like Donald Trump and Bernie Sanders (just about the only candidate in the race not backed by billionaires and so an obvious threat to any billionaire around) might truly be nominated for president.

In the post-Citizens United era, after the Supreme Court let a flood of plutocratic money pour through a super PAC darkly, the billionaires began to run rampant. Soon enough, new informal “primaries” were set up in which potential candidates on bended knee toured the resorts and luxury locales those billionaires preferred, auditioning for their support. More…