Russ Feingold blames big money in politics for unfair trade agreements, consolidation of the media, and deregulation of Wall Street

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Chris Matthews:  What do you make of the Super Pacs.  You are McCain-Feingold.  You are the classic guy that wants to clean up this business of politics.  It’s not a business.  It’s about our democracy. 

What do you make about the fact the President is going to go to a billion-dollar campaign.  The other party is going to a billion-dollar campaign and all this loose money coming in in big amounts. We used to call it soft money. Now it’s big Super Pac money.

Russ Feingold: I support the President for re-election. I’m a co-chair of his campaign. I made it clear I don’t agree with this. I think it’s a mistake for the President and his people to go down this road.

He is a person who really fights for the 99% and when you go and associate yourself with this kind of unlimited contributions, you are undercutting your message and you end up with something even worse. You’ll end up at the congressional level with corporate Democrats again as well as corporate Republicans.

We saw this movie before, before McCain and I banned soft money to the parties. You get trade agreements that ship our jobs overseas, consolidation of the media and the deregulation of Wall Street. This all comes when people end up raising this kind of money, and I think it’s a disaster for the country and I hope the President moves away from this approach.

He doesn’t need it. He can win without this unlimited money. People know who he is and know he’s doing a good job.

Transcribed by the Barefoot Accountant
Accountants CPA Hartford, Connecticut, LLC
William Brighenti
Certified Public Accountant
Certified QuickBooks ProAdvisor

About William Brighenti

William Brighenti is a Certified Public Accountant, Certified QuickBooks ProAdvisor, and Certified Business Valuation Analyst. Bill began his career in public accounting in 1979. Since then he has worked at various public accounting firms throughout Connecticut. Bill received a Master of Science in Professional Accounting degree from the University of Hartford, after attending the University of Connecticut and Central Connecticut State University for his Bachelor of Arts and Master of Arts degrees. He subsequently attended Purdue University for doctoral studies in Accounting and Quantitative Methods in Business. Bill has instructed graduate and undergraduate courses in Accounting, Auditing, and other subjects at the University of Hartford, Central Connecticut State University, Hartford State Technical College, and Purdue University. He also taught GMAT and CPA Exam Review Classes at the Stanley H. Kaplan Educational Center and at Person-Wolinsky, and is certified to teach trade-related subjects at Connecticut Vocational Technical Schools. His articles on tax and accounting have been published in several professional journals throughout the country as well as on several accounting websites. William was born and raised in New Britain, Connecticut, and served on the City's Board of Finance and Taxation as well as its City Plan Commission. In addition to the blog, Accounting and Taxes Simplified, Bill writes a blog, "The Barefoot Accountant", for the Accounting Web, a Sift Media publication.
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