from the fec website there is this little rule - one where we've worried would be broken with the pacs after citizen's united. and what is that rule? well, here is the actual text from the federal elections commission:
Can non-US citizens contribute?ummmmmm
Foreign nationals are prohibited from making any contributions or expenditures in connection with any election in the U.S. Please note, however, that "green card" holders (i.e., individuals lawfully admitted for permanent residence in the U.S.) are not considered foreign nationals and, as a result, may contribute. For additional information, consult our "Foreign Nationals" brochure.
romney? fundraisers? london? israel?
wait a minute - let me check that whole "foreign nationals" thing...
the page on this at the federal election commission of the united states government makes this clarification:
The ban on political contributions and expenditures by foreign nationals was first enacted in 1966 as part of the amendments to the Foreign Agents Registration Act (FARA), an "internal security" statute. The goal of the FARA was to minimize foreign intervention in U.S. elections by establishing a series of limitations on foreign nationals. These included registration requirements for the agents of foreign principals and a general prohibition on political contributions by foreign nationals. In 1974, the prohibition was incorporated into the Federal Election Campaign Act (the FECA), [HTML] [PDF] giving the Federal Election Commission (FEC) jurisdiction over its enforcement and interpretation.aha! this isn't a "rule" or "regulation" - it is a prohibition incorporated into the Federal Election Campaign Act (the FECA), so it's law of the land.
This brochure has been developed to help clarify the rules regarding the political activity of foreign nationals; however, it is not intended to provide an exhaustive discussion of the election law. If you have any questions after reading this, please contact the FEC in Washington, D.C., at 1-800-424-9530 or 202-694-1100. Members of the press should contact the FEC Press Office at 202-694-1220 or at the toll free number listed above.
Except where otherwise noted, all citations refer to the Act and FEC regulations. Advisory Opinions (AOs) issued by the Commission are also cited.
a little more study is required here - JUST to be sure...
that same link defines exactly WHO is a "foreign national"
Who is a Foreign National?now, if you have a "green card", you're okay - you're an exception. but!
The following groups and individuals are considered "foreign nationals" and are, therefore, subject to the prohibition:
Foreign political parties;
Individuals with foreign citizenship; and
Immigrants who do not have a "green card."
(same link as above)
Domestic Subsidiaries and Foreign-Owned Corporationsbut wait! there's MORE!
A U.S. subsidiary of a foreign corporation or a U.S. corporation that is owned by foreign nationals may be subject to the prohibition, as discussed below.
PAC Contributions for Federal Activity
A domestic subsidiary of a foreign corporation may not establish a federal political action committee (PAC) to make federal contributions if:
The foreign parent corporation finances the PAC's establishment, administration, or solicitation costs; or
Individual foreign nationals:
Participate in the operation of the PAC;
Serve as officers of the PAC;
Participated in the selection of persons who operate the PAC; or
Make decisions regarding PAC contributions or expenditure. 11 CFR 110.20(i).
(See also AOs 2000-17, 1995-15, 1990-8, 1989-29, and 1989-20.)
Corporate Contributions for Nonfederal Activitybut now we get to the meat and potatoes of this issue!
Additionally, a domestic subsidiary of a foreign corporation (or a domestic corporation owned by foreign nationals) may not donate funds or anything of value in connection with state or local elections if:
These activities are financed by the foreign parent or owner; or
Individual foreign nationals are involved in any way in the making of donations to nonfederal candidates and committees.
Please note that many states place additional restrictions on donations made to nonfederal candidates and committees. 11 CFR 110.20(i). (See also AOs 1992-16, 1985-3, 1982-10, and Matter Under Review (MUR) 2892.)
Volunteer Activityso, a foreign national can get involved on an ISSUE but NOT a candidate's campaign on ANY level during an election, even one way downticket!.
Generally, an individual may volunteer personal services to a federal candidate or federal political committee without making a contribution. The Act provides this volunteer "exemption" as long as the individual performing the service is not compensated by anyone. 11 CFR 100.74. The Commission has addressed applicability of this exemption to volunteer activity by a foreign national, as explained below.
In AO 1987-25, the Commission allowed a foreign national student to provide uncompensated volunteer services to a Presidential campaign. By contrast, the decision in AO 1981-51 prohibited a foreign national artist from donating his services in connection with fundraising for a Senate campaign.
Non-election Activity by Foreign Nationals
Despite the general prohibition on foreign national contributions and donations, foreign nationals may lawfully engage in political activity that is not connected with any election to political office at the federal, state, or local levels. The FEC has clarified such activity with respect to individuals' activities.
In AO 1989-32, the Commission concluded that although foreign nationals could make disbursements solely to influence ballot issues, a foreign national could not contribute to a ballot committee that had coordinated its efforts with a nonfederal candidate's re-election campaign. the second section expressly points out that opposing an "issue" (such as bias in the media) is okay as long as there is NO mention of candidates/political offices/parties/incumbant federal officeholders or any past or future election! (WOW! THAT'S harsh! a ban throughout history!)not done here yet and i really DO have a VERY SIGNIFICANT POINT TO MAKE at the end of this diary - wait for it.... wait for it!!!
In AO 1984-41, the Commission allowed a foreign national to underwrite the broadcast of apolitical ads that attempted to expose the alleged political bias of the media. The Commission found that these ads were not election influencing because they did not mention candidates, political offices, political parties, incumbent federal officeholders or any past or future election.
check out these two sets of "restrictions" and see if you are going where i'm going with this...
Assisting Foreign National Contributions or Donationsokay.... here's the process when foreign nationals are suspected of making a contribution:
Under Commission regulations it is unlawful to knowingly provide substantial assistance to foreign nationals making contributions or donations in connection with any U.S. election. 11 CFR 110.20(h). "Substantial assistance" refers to active involvement in the solicitation, making, receipt or acceptance of a foreign national contribution or donation with the intent of facilitating the successful completion of the transaction. This prohibition includes, but is not limited to individuals who act as conduits or intermediaries. 67 FR 69945-6 (November 19, 2002) [PDF].
Soliciting, Accepting, or Receiving Contributions and Donations from Foreign Nationals
As noted earlier, the Act prohibits knowingly soliciting, accepting or receiving contributions or donations from foreign nationals. In this context, "knowingly" means that a person:
Has actual knowledge that the funds solicited, accepted, or received are from a foreign national;
Is aware of facts that would lead a reasonable person to believe that the funds solicited, accepted, or received are likely to be from a foreign national;
Is aware of facts that would lead a reasonable person to inquire whether the source of the funds solicited, accepted or received is a foreign national.
11 CFR 110.20(a)(4)(i), (ii) and (iii).
Pertinent facts that may lead to inquiry by the recipient include, but are not limited to the following: A donor or contributor uses a foreign passport, provides a foreign address,
makes a contribution from a foreign bank, or resides abroad. Obtaining a copy of a current and valid U.S. passport would satisfy the duty to inquire whether the funds solicited, accepted, or received are from a foreign national. 11 CFR 110.20(a)(7).
Monitoring Prohibited Contributionsokaaaaaaaaayyyyyy - ready for the punch line?
When a federal political committee (a committee active in federal elections) receives a contribution it believes may be from a foreign national, it must:
Return the contribution to the donor without depositing it; or
Deposit the contribution and take steps to determine its legality, as described below.
Either action must be taken within 10 days of the treasurer's receipt. 11 CFR 103.3(b)(1).
If the committee decides to deposit the contribution, the treasurer must make sure that the funds are not spent because they may have to be refunded. Additionally, he or she must maintain a written record explaining why the contribution may be prohibited. 11 CFR 103.3(b)(4) and (5). The legality of the contribution must be confirmed within 30 days of the treasurer's receipt, or the committee must issue a refund.
If the committee deposits a contribution that appears to be legal, but later discovers that the deposited contribution is from a foreign national, it must refund the contribution within 30 days of making the discovery. If a committee lacks sufficient funds to make a refund when a prohibited contribution is discovered, it must use the next funds it receives. 11 CFR 103.3(b)(1) and (2).
ROMNEY IS HOLDING FUNDRAISERS IN LONDON! he's holding them with barclays bankers and more -
Barclays executives have donated over $1 million to Romney’s campaign, according to the Guardian, and many are expected to be in attendance at Thursday’s fundraiser, raising eyebrows on both sides of the pond.but, he isn't stopping there - he has many MORE "foreign nationals" attending...
Former Barclays CEO Bob Diamond bowed out as host of Romney’s fundraiser after resigning in the wake of a scandal in which major banks colluded to artificially lower the London interbank offered rate (LIBOR), the rate at which banks loan to one another. Diamond has donated $2,500 to the Romney campaign.
Former Barclays CEO Bob Diamond bowed out as host of Romney’s fundraiser after resigning in the wake of a scandal in which major banks colluded to artificially lower the London interbank offered rate (LIBOR), the rate at which banks loan to one another. Diamond has donated $2,500 to the Romney campaign.this is not setting well with the brits...
Eighty-two other Barclays employees have donated to Romney, according to the Associated Press. Patrick Durkin, Barclays’ chief lobbyist in D.C., is a co-host and has raised more than $1 million for Romney.
Headlines in the last few days have drawn the connection between Romney, his financial industry-focused fundraiser and the LIBOR scandal, threatening to bolster Democrats’ message that Romney is more interested in helping Wall Street than Main Street.from another article... members of parliament are telling barclay's executives to STOP raising money for romney's campaign - they've already raised over a million dollars. soooooo, now barclay's executives are all expat americans?
On top of Romney’s rough start in London, which not only includes negative coverage of his fundraiser but also anger over his skepticism on London’s preparedness to host the Summer Olympic Games, the Guardian picked up on a report that the fundraiser is slashing ticket prices in order to attract last-minute attendees. Dinner tickets, which were being sold for $25,000 and up, are now going for $10,000, according to the report.
The Romney campaign did not respond to requests for comment.
but the bank has spoken out, saying THEY aren't fund raising - it is all "personal"...
Romney arrived in the UK on Wednesday for a series of meetings with David Cameron and other political figures before attending two fundraising events and the Olympics this weekend.mps are raising red flags over this and other "secret fundraisers" that have more international "supporters" shelling out money...
An early-day motion (EDM) signed by 11 MPs last week demanded the bank and its directors stop working to bolster Romney's election campaign war chest and concentrate on repairing confidence and trust in the banking system instead.
But in a letter to the signatories of the motion, Cyrus Ardalan, a vice-chairman of Barclays and head of the UK and European government relations, said the bank was not a supporter of the presidential hopeful.
"I ... would like to clarify that all political activity undertaken by Barclays' US employees, including personal fundraising for specific candidates, is done so in a personal capacity, and not on behalf of Barclays," he wrote.
"Barclays is politically non-partisan, makes no political donations nor seeks to influence the political activities of its employees."
MPs tell Barclays to stop fundraising for Mitt Romneythen,there's the little israeli bash planned...
Bank at centre of Libor-setting scandal says it is non-partisan and donations are made by employees in a personal capacity
MPs including Jim Cunningham, Mark Durkan, Margaret Richie and John McDonnell raised concerns that at least 15 of Barclays Capital's most senior bankers based in the US have donated the maximum allowable individual donation per election to the Romney campaign.
They also criticised the fact that Durkin has already reportedly raised over $1m for the Romney campaign.
Other hosts of the event, which is being held at a secret location understood to be a five-star hotel in central London, include Dwight Poler, the managing director of the European arm of Bain Capital, the private equity house founded by Romney, and Eric Varvel, the chief executive of Credit Suisse's investment banking arm.
Among 47 named co-hosts are Raj Bhattacharyya, a managing director at Deutsche Bank, Karl Peterson, the European boss of private equity firm TPG Capital. Also present will be Woody Johnson, the owner of American football team the New York Jets and a great-grandson of the founder of Johnson & Johnson.
Guests who can't quite stretch to the $50,000-$75,000 required for dinner with Romney are invited to a 5pm reception, which costs from $2,500 a head.
here's the scoop from the link above:
Mitt Romney is reportedly planning a fundraiser in Jerusalem during his visit to Israel later this month.perhaps mittens is just trying to carry the citizens united ruling to yet another test case... or has he and his campaign not read the fec rules on campaign contributions?
The Jerusalem Post reports that donors will be charged "$60,000 or more per plate" at the event. Romney is jointly raising money with the Republican National Committee, and $75,000 is the maximum donation to the Romney Victory Fund.
and who better to understand how to skirt the law than the libor participants! so, mitt has a big bash fundraiser with them, too!
now, i know that rmoney will claim that ALL these donors are expat americans - all legal to give him money, money, money - especially
* Deutsche Bank managing director Raj Bhattacharyyai want proof that each and every attendee is an american citizen. every single donor must be registered and listed and verified that they are an american (either naturalized, native born or green card holder.
* HSBC managing director Whitfield Hines
Executives from Goldman Sachs, Blackstone and Wells Fargo Securities—and, of course, Bain Capital Europe—are also on the list.
Why would these Americans associated with international banks be giving maximum money to this particular presidential candidate? Gee, could it have anything to do with the fact that there are calls for criminal prosecution of the bankers who were involved in interest rate manipulations that effectively rigged the rates that helped to determine who consumers in the United States and other countries obtained mortgages and paid on credit cards?
“Much more needs to be done,” Senators Carl Levin (D-MI) and Jack Reed( D-RI) and ten of their colleagues wrote in a mid-July letter to financial regulators and Attorney General Eric Holder. “Banks and their employees found to have broken the law should face appropriate criminal prosecution and civil action.”
Electing a friendly president, who might put the brakes on those prosecutions, just became a very high priority for the men who pull the financial strings not just on Wall Street but in London.
Approached by Britain’s Telegraph, one invitee hailed Romney’s “American understanding of capitalism. A prominent lawyer who will be attending one of Romney’s London bashes explained that the Republican candidate understands “very important things [that] people here in the UK also understand.”
That sort of “understanding” is worth a lot to embattled bankers. Certainly, the $75,000 it will cost for what the Independent describes as a “chance to whisper some of their own policy preferences into the ear of the man who may—or may not—be US president.”
and, is this money going into an account in the u.s or will it miraculously "vanish" into a suisse account or cayman account.
since rmoney doesn't think the rules apply to him, how do we make sure the fec holds him accountable for these overseas fundraisers?
we need to go viral about where and from whom he is raking in the money (even at half price tickets) and someone needs to be on the ground near that fundraiser to take pictures of the guests and verify they are indeed americans.
let's hope rmoney follows the path of rafalca - and is eliminated from the competition early on. (not to rag on rafalca, but she is dreadfully anxious and unhappy when eberling rides her. she may have heard that if she loses, she has to either swim home or ride on top of the plane.
okay - have at it folks, and when i find the number for the fec after these funders are done, i'll post and we can start our own campaign to have each and every donor verified! (provided the rmoneys don't "lose" the money on the way back to the u.s.