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READING THE NEWS

"Sorry, Mr. Lay. Your Money's No Good Here."

by Eric Wallenstein

As dozens of our lawmakers rush to return the barrels of cash that Enron has spread around Capitol Hill, one issue has unexpectedly come to the forefront yet again: campaign finance reform.

According to The New York Times, Enron "wrote campaign checks to nearly three-fourths of the senators and over half the representatives over the years." Reform advocates argue that such contributions helped Enron to get away with not paying income taxes for four out of the past five years (by creating more than 700 subsidiaries in the Cayman Islands that served as tax havens), and may help them during the coming Congressional investigation.

As Enron-related stories continue to make front-page headlines, the debate over campaign finance reform is sure to continue as well. If you'd like to further investigate the issue, we recommend the following books:

 

 

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The Money Men: The Real Story of Fund-Raising's Influence on Political Power in America
by Jeffrey Birnbaum

This revealing look into the world of fund-raising is a piece of thrilling reportage that examines how Washington's pocket-stuffers seduce politicians and what favors they get in return. And Birnbaum ought to know, since, as a beat reporter for The Wall Street Journal, Time, and Fortune, he's been sniffing down the money trail for years. Full of larger-than-life characters and told in a lively style, The Money Men is an eye-opening, page-turning delight that indicts both Republicans and Democrats.

Granny D: Walking Across America in My Ninetieth Year
by
Doris Haddock and Dennis Burke
In February of 2000, 89-year-old Doris Haddock (AKA "Granny D") walked from Los Angeles to Washington, D.C. to promote campaign finance reform. Despite her arthritis and emphysema, Granny D made the 3,200-mile trek and managed to stir up quite a lot of attention along the way. This journal of her trip not only tells of Granny D's day-to-day travails, but also reflects on her many memories of life. Frank, personal, and occasionally hilarious, Granny D is a rousing story of an inspiring nonagenarian.

The Corruption of American Politics: What Went Wrong and Why
by Elizabeth Drew

Documenting the recent unsuccessful efforts of reform-advocating legislators like Senators Fred Thompson and John McCain, The Corruption of American Politics is an excoriating glimpse into Capitol Hill's piggybank. For Drew, a former reporter for The New Yorker, our current money troubles are connected to larger problems, particularly to our nation's post-Watergate lack of faith in politics. Yet, despite such deep-seated dilemmas, Drew remains far from pessimistic, and even offers up offers up many possible solutions to the money mess.

Unfree Speech: The Folly of Campaign Finance Reform
by Bradley Smith
Arguing that campaign contributions are protected under our right to free speech, Smith contends that our current system works pretty well, and that the reform crowd is seriously misguided. While it might be shocking to some, Smith even proclaims that we could use even more money in politics. There's certainly more than a few points you could take issue with here, but Smith, a Law Professor and current Federal Election Commission member, makes a convincing and highly readable argument destined to appeal to reform opponents.

Washington on $10 Million a Day: How Lobbyists Plunder The Nation
by Ken Silverstein
With chapter titles like "Pimps to Power" and "Invasion of the Money Snatchers," Silverstein makes his agenda known from the get-go. He starts off with an entertaining account of his undercover foray into fundraising schmooze-fests -- he poses as the head of a fake Political Action Committee -- and then introduces you to the power brokers that make Washington's wheels go 'round, whose alarming tactics are sure to shock and incite. Thankfully, Silverstein maintains his delightfully vicious sense of humor throughout. Pitch-perfect for those of us who enjoy the occasional prank call along with our wake-up calls.

 

Reading the News Archives


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