A few names gets you this? "hard evidence the Republican establishment is rallying to his presidential candidacy" http://t.co/LficrEbQB1
— Nick Confessore (@nickconfessore) July 29, 2015
From the WSJ article:
… Mike Fernandez, a Cuban-American billionaire who gave $3 million, is the biggest donor to the Right to Rise super PAC, which set a record fundraising pace and bested all of Mr. Bush’s rivals—Democrats and Republicans—by amassing $103 million in the first six months of 2015.
The names help confirm that the Republican establishment, supplemented with a healthy dash of Florida financial backers from Mr. Bush’s days as governor, are prepared to deliver a powerful flow of money that no other GOP candidate is likely to match.
Brad Freeman, chairman of a California private-equity firm, who gave $1 million to the super PAC and recruited other big donors, said people write seven-figure checks for different reasons. “They really believe in the candidate [or] they like to be one of the in-club,” he said. Other donors might be looking for favors, Mr. Freeman added: “For some, when it gets time to have appointments, those names stand out.”…
… The Wall Street Journal obtained the names of many of Mr. Bush’s top supporters through interviews with donors and other sources familiar with the super PAC’s fundraising. Many, such as Mr. Freeman, have been connected to Mr. Bush’s family for decades, from the 1966 election of his father George H.W. Bush to Congress to the elite “Ranger” and “Pioneer” fundraising program for the 2000 and 2004 presidential campaigns of his brother George W. Bush…
While campaigns traditionally tout their pool of small donors who gave $200 or less, Right to Rise noted in a July fundraising summary that 95% of its 9,900 donors gave $25,000 or less. “I can make fewer calls and raise more money,” Mr. Freeman said…
My emphases. Those philanthropic Florida donors? Per the Washington Post:
… [A]ccording to interviews with economists and a review of data, Florida owed a substantial portion of its growth under Bush not to any state policies but to a massive and unsustainable housing bubble — one that ultimately benefited rich investors at the expense of middle-class families.
The bubble, one of the biggest in the nation, drove up home prices and had many short-term benefits for the state, spurring construction, spending and jobs. But the collapse of the housing bubble as Bush left office in 2007, after eight years of service, sent Florida into a recession deeper than that in the rest of the country, and hundreds of thousands lost their homes…
In the four years after Bush left office, median income in Florida declined by $5,700 — more than a 10 percent drop and double the percentage drop for the nation as a whole. The typical Florida family’s net worth fell 60 percent in that time, according to the Census Bureau. In a state where so much of the economy revolves around real estate, and where many foreclosures that began years ago are only now winding through the court system, there are 200,000 fewer families who own their homes than there were in 2005.
Many of those families now pay rent to Wall Street firms. Institutional investors have bought up huge inventories of Florida condos and single-family homes, often at foreclosure auctions where they pay less than the assessed value of the properties. They’ve watched the value of those properties rise as the housing market heats up again — and they’ve charged escalating rents to people who no longer own their own homes. Florida metro areas have the largest concentration of investor-owned homes in the country, according to RealtyTrac data.
“This whole thing,” said Thomas Ice, a former corporate lawyer and real estate speculator who now represents hundreds of South Florida homeowners fighting foreclosure, “has been one of the great land grabs — transfers of property to the oligarchs — in the history of the United States.”…
That’s the Bush Clan’s Golden Rule — Them that has the gold, makes the rules. As the Post reported earlier this month, “Raising money is a Jeb Bush family business, even for the next generation“:
… Asked about the paltry sum of donations from small-dollar donors, Bush says that there will be plenty of time to cultivate grass-roots supporters… For now, Bush is focused on bigger dollars, and his appearance on Friday night was a tacit acknowledgment of the work his sons are doing to help.
He appeared at a conference hosted by Maverick PAC, a group of wealthy Republicans under the age of 40 who support GOP political candidates of a similar age. The PAC was launched in Texas by about a dozen of George W. Bush’s “Mavericks,” or young professionals who helped raise at least $50,000 in 2004. In 2006, George P. Bush — Jeb’s older son — joined the group and became chairman in 2010. He expanded the PAC beyond Texas to include more than 20 chapters, with several in Florida and one in London.
As Texas land commissioner, George P. Bush can no longer actively participate, but his friend, Jay Zeidman, kicked off the event Friday night… Spotted in the crowd was Charlie Spies, a Republican campaign finance lawyer, who represents Maverick PAC and Right to Rise USA, the super PAC allied with Jeb Bush that raised a record $103 million last quarter…
Father and son later headed upstairs to Bouchon, the French restaurant by chef Thomas Keller, where they hosted a kickoff reception for “Mission: NEXT” — essentially the 2016 version of George W. Bush’s “Mavericks” group. In a nod to his home state of Florida, Jeb Bush’s donor program is called “Mission 2016 JEB” — a NASA-inspired title for a program that will have three distinct tiers for top bundlers.
The first tier, called Apollo, will be for bundlers who can help Bush raise at least $75,000. The second tier, called Endeavour, is for donors who reach at least $150,000. Top-flight bundlers will reach the Voyager level as they help rake in at least $250,000.
Mission: NEXT will be for donors under 40 who can help raise at least $50,000. George P. and Jeb Bush Jr. will co-chair the group and said in a joint statement that it “will be the central program for youth involvement in the campaign.”…
Andres Asion, a Miami real estate broker who is backing Jeb Bush and is friends with Jeb Bush Jr., said the brothers “have been raised in the business, per se, and they know their market and they know what they’re doing very well.”…
Well enough to impress the Hamptons crowd, per Bloomberg Politics:
Behind a garden modeled on Monet’s, Jeb Bush addressed a lawn-full of chief executives and hedge-fund managers at an East Hampton, New York, estate Saturday morning. While the candidate is no stranger to courting wealthy donors, this time was different: about half the attendees were Democrats.
“This guy sells well,” said Kenneth Lipper, the money manager and registered Democrat who hosted the event, after Bush left. Virtually the only one who left without writing a check, Lipper said, was a buck deer that wandered past the group assembled on the wooded grounds…
“People with money like him,” said Andrew Sabin, 69, a top local Republican fundraiser and a co-host of one of the Bush events. “I’m sure there’s a lot of poor people that like him too. It so happens there’s not a lot of poor people in the Hamptons.”…
Over a salad on the deck at the South Fork Country Club prior to attending two of the fundraisers, Sabin said donors appreciate the way Bush’s staff keeps in touch.
“We get a rundown every week—they’re very transparent,” said Sabin, who runs a precious-metals refining business with offices from China to Dubai. “Some guys take your money, you don’t know what they’re talking about until you read it in the newspaper.”…
Prompt and efficient service to the Robber Barons — a hallmark of the Bush brand since the first Gilded Age, when Sam P. Bush made his fortune helping to implement the Rockefellers’ “industrial” interests (cameo appearance by Herbert Hoover).
redshirt
Rich assholes leading the Republican party?
Shocking!
Mike in NC
Meh. The greatest of the Bushes remains Prescott, who bankrolled the Nazis in the 1930s. The lamestream media will never go there, though.
Tree With Water
R.I.P. Terry Schiavo.
SiubhanDuinne
@Mike in NC:
I think you’re right. After all they didn’t go there in 1980, 1984, 1988, 1992, 1996, 2000, or 2004. Even if they knew how, at this point they wouldn’t remember.
Belafon
The Kochs now own the voter list the Republicans will use: http://www.dailykos.com/story/2015/07/30/1407296/-RNC-cries-uncle-the-Koch-takeover-is-nbsp-complete.
Each non-trump contender has a bankroller. Trump doesn’t need one.
And the voters will buy into the idea that these guy want the little people up there with them. HAHAHAHA.
beltane
@Mike in NC: The media won’t go there, but if push comes to shove, Donald Trump just might.
mai naem mobile
I’m surprised they didn’t shoot the buck deer. Didn’t Bush/Cheney used to do hunting fundraisers?
Omnes Omnibus
Let’s also note that Jeb! was one of the signers of the original PNAC letter back in 1997.
OT but still neo-con related: Is there any chance of a front pager posting a call to action to encourage people to call their Congresspeeps about the the Iran deal? Sort of like Tim F did on ACA. A few people have been kicking around the idea that it might be useful.
kc
That wasn’t confined to Florida, ya know. Happened all over the country.
Cervantes
@Mike in NC:
A little strong. It wasn’t his money.
More accurate — and bad enough — to say that he made a fortune by helping the German industrialists who bankrolled the Nazis — though even there, Bush wasn’t very bright and mostly just did what he was told by his partners in crime, George Walker and Averell Harriman.
And by the way, their profiteering did not end in the ’30s: it continued into 1942, at least.
Pie Happens (opiejeanne)
@Omnes Omnibus: We saw an ad against the Iran deal a couple of days ago. It was full of twisted bits of not-quite true as well as outright lies, and it urged us to call our congresspersons to urge non-approval.
I can’t find a link to the one I saw and I’ll be damned if I watch a bunch of them to find it. There seem to be a lot of them out there, some tailored to certain areas, some just ridiculous messages of DOOM!.
Chris
@Cervantes:
I’m detecting a trend here.
Omnes Omnibus
@Pie Happens (opiejeanne): Yes, and that is why we were talking about it tonight. We thought what Tim F did for the ACA fight was great and that it would be cool if we could do it again over something that is also a big fucking deal. Balloon Juice has been pretty quiet on the topic – which I find odd.
jonas
I’ve thought from the very outset of this whole clowncar cavalcade that it was such a pointless exercise because Jeb! was simply going to waltz through the process roll up the nomination just like Romney did. The only other person who might nip at his heels a bit is Walker, depending on how much the Koch brothers are willing to see it through. Trump is running purely a vanity campaign with no real substance and will either drop out or go independent, but will provide plenty of entertainment either way.
Here’s the thing — you can have a billionaire sugar daddy give you scads of money to run ads and put up billboards or whatever, but that doesn’t necessarily translate into a viable ground game with well-connected campaign workers who know how to turn out primary voters in key states and actually close the deal. That’s why the establishment is called “The Establishment.” It controls the ground troops, and money + commitment of ground forces = eventual victory for Jeb! I’ll be surprised if it turns out otherwise.
wuzzat
Jeez, that picture. It’s bad enough that Jeb!’s logo is so reminiscent of the marquee for Annie, but now he looks like he’s about to burst into the chorus of “Tomorrow.”
benw
@jonas: I like the way you think and wish to subscribe to your newsletter.
rikyrah
This is who Jeb is. No shock. His plan was always to bury the competition in money. We will see how this works out.
Pie Happens (opiejeanne)
@Omnes Omnibus: I admit to being a bit confused; I thought that only the Senate got a say, not Congress, and that there wasn’t much the Senate could do about it other than vote that they don’t like it.
I hope that’s a clear description of my confusion. How far off-base am I?
And I’m willing to make some calls, send email, etc. if need be.
Omnes Omnibus
@Pie Happens (opiejeanne): It is not a treaty, so it isn’t just the Senate. Basically and simplistically, it is a deal under UN auspices. The UN has okayed it. The US, as a participant, has certain obligations it has to meet. Congress could pass a law saying no to those obligations. Obama would veto it. In that case it is unlikely that the Congress could override the veto, but we would still look like asses. In addition, the various sanctions imposed on Iran will have to be repealed as targets are met, etc. If we don’t do that, we again look shifty and untrustworthy.
redshirt
@efgoldman:
I voted for some of them! Senator Cohen was a good man, before he was turned….
Anoniminous
Figure the Bush Machine has 500 to 600 delegates ‘banked’ from the National organization, elected officials, and state parties delegates. To win the nomination JEB! needs ~ 650 to get to 1,246. Winning Ohio, Florida, Illinois, California, and New York gets 469, winning the rest of the Northeast and other odds (Minnesota) and sods (Wyoming) to get over the mark.
It’s possible Kasich will hold on until March 15 and win Ohio but I really doubt it. He doesn’t have the national backing, he doesn’t have the money, he doesn’t have the contacts in the state parties, and he doesn’t have the state campaign organizations.
Pie Happens (opiejeanne)
@Omnes Omnibus: Thanks. That explains it better than what I had picked up from various comments. Was too lazy or busy to chase down the exact answers.
Any bets that Tom Cotton tries to make us all look stupid?
Omnes Omnibus
@Pie Happens (opiejeanne): Not taking that bet.
Kropadope
@Anoniminous: I don’t believe that Republicans have superdelegates. That’s a Democrat thing and while somewhat anti-democratic can help prevent someone like a Trump being nominated.
mclaren
@Belafon:
You’re hugely underestimating the fantastic cost of running for president in 2015. The last campaign cost upwards of a billion (BILLION) dollars for each candidate. 2 billion dollars total for the last presidential election. That’s 2 billion bucks to elect one of 2 (two) people to one office. Trump has bucks, but he doesn’t have that kind of liquid asset cash.
mclaren
@jonas:
You are correct, sir. Money isn’t everything in Republican politics — it’s the only thing.
Valdivia
@Pie Happens (opiejeanne): them up!@Omnes Omnibus: Though dead thread, I second this. It really really matters if the US cannot back in Congress a deal agreed to with our international partners. If the Dems don’t hear from us and only hear from the other side they will not vote to sustain Obama’s veto. Have to buck
Valdivia
@Omnes Omnibus: @Pie Happens (opiejeanne): Though dead thread, I second this. It really really matters if the US cannot back in Congress a deal agreed to with our international partners. If the Dems don’t hear from us and only hear from the other side they will not vote to sustain Obama’s veto. Have to buck them up.
What Have the Romans Ever Done for Us?
@mclaren: True, but Trump gets a lot of free exposure just for being a celebrity (and outrageous), which probably lowers his cost some. Also, if he’s not really serious or organized, he won’t build a ground organization (major expense avoided). He’s got enough resources to damage anyone else in the field and given that we’re all rooting for injuries here, that’ll do.
NorthLeft12
Maybe I am naïve, but I still think that a candidate has to have some kind of personal ability or trait that voters can point to and admire in order to get excited about voting or working for them.
Jeb! and walker are just so meh in my view that I would think that the massive amounts of money that they have to spend [on mostly negative ads or outright bribes] would just drag out the loss to the bitter end. But then these are Republicans and this is their primary, so yeah I guess that it is possible.
Besides, how do you explain Romney? Outside of an absolutely weak and batshit crazy competition. Which I now see has not changed significantly.
NorthLeft12
@Chris: That was an internet win in my book. Please, continue Chris.
Kristine
@Chris: You win the thread.
low-tech cyclist
@NorthLeft12:
That’s how I see it, at least for the primaries. Much less so in the general election.
Walker’s appeal is based on kicking liberal asses (unions, U of W), which the base loves, while getting elected and re-elected. So I suspect his campaign will prove pretty durable. I see Walker winning Iowa, Bush winning NH, and the race turning on an absolute brawl in South Carolina.
Crouchback
@mclaren: Yes & No. Total cost for a candidate is likely to be north of a billion but that’s counting party support and the general election. If Trump wins the primary, the money will pour into his campaign just because the GOP won’t want to give up on the White House. Even if he’s just wins a few states he’ll start getting backing. A few hundred million is enough to keep him competitive to the primary and that’s within his means. The money rules have shifted so much that it’s risky to make predictions.
Heck, the opposition from the Koch brothers might help. Other billionaires might not like the Koch brothers pulling all the strings. And the RNC has already agreed to sell their voter list to Trump which suggests they might like seeing the Koch brothers taken down a notch or two.