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Bad day for billionaires

Accepting a second term, President Obama looked to the horizon with a view for where he wants to take the country in the next four years -- but at the moment that horizon extends only as far as December 31st -- the date of the so-called fiscal cliff.

Editor's Note: Today marks the final installment of the Daily Disclosure. To keep up with post-election, money-in-politics news, please visit Consider the Source.

Money can't buy happiness, nor can it buy an election, apparently. The top donors to super PACs in 2012 did not fare well — casino magnate Sheldon Adelson, the No. 1 super PAC contributor with more than $53 million in giving, backed eight losers at this writing. Adelson was top backer of the pro-Mitt Romney Restore Our Future super PAC, with $20 million in donations. Romney lost to President Barack Obama. In addition, Adelson's contributions to super PACs backing U.S. Senate candidates in Florida, Virginia and New Jersey were also for naught. He was not the only conservative billionaire who had a bad night. Contran Corp. CEO Harold Simmons, (No. 2), homebuilder Bob Perry (No. 3) and TD Ameritrade founder Joe Ricketts, (No.4), also bet on Romney. Collectively, the trio gave $13.4 million to Restore Our Future, and Ricketts’ super PAC, Ending Spending Action Fund, spent an additional $9.9 million helping Romney’s failed bid. The winning donor of the night was Newsweb Corp. CEO Fred Eychaner (No. 5). Eychaner gave $3.5 million to pro-Obama super PAC Priorities USA Action through the most recent filing period, which ended Oct. 17, according to Federal Election Commission records. In Florida, Republican Rep. Connie Mack lost his challenge to the popular Democratic Sen. Bill Nelson, who won with 55 percent of the vote. Adelson gave $2 million to the pro-Mack super PAC Freedom PAC, and Simmons and Perry gave a combined $255,000 to the group. The hotly contested Senate race in Virginia attracted $2.5 million from Adelson and Perry, both giving to Independence Virginia, the super PAC supporting former Republican Sen. George Allen. His opponent, Democratic Gov. Tim Kaine, won the seat with 52 percent of the vote. Adelson also invested in the re-election of Rep. Allen West, R-Fla., in Florida’s 18th District, who was trailing in his battle with Democratic newcomer Patrick Murphy at this writing. The casino billionaire’s $1 million to Patriot Prosperity, a New Jersey-specific super PAC supporting the Republican candidate for U.S. Senate, Joe Kyrillos, and the Republican candidate for U.S. House in the state’s 9th District, Rabbi Shmuley Boteach, also did not pay off. During the primary season, Adelson’s $16.5 million in contributions to the super PAC Winning Our Future was not enough guide former House Majority Leader Newt Gingrich to a Republican presidential nomination, though it is credited with keeping him in the race longer than expected. Nor were Adelson’s contributions enough to help Texas Lt. Gov. David Dewhurst win the GOP primary for Texas Senate earlier this year, a cause to which gave at least a quarter-million dollars. Adelson did score one point with his $2 million contribution that helped sink a Michigan ballot initiative seeking to enshrine collective bargaining in the state’s constitution. Adelson runs the only non-union casinos on the Las Vegas Strip.  Win-Loss Rundown: (Giving to candidate-specific super PACs in the federal election) Sheldon Adelson, Republican, $53.7 million*


  • Mitt Romney — loss

  • Connie Mack (Florida Senate) — loss

  • George Allen (Virginia Senate) — loss

  • Allen West (House, Florida’s 18th) — too close to call, but leaning toward loss

  • Joe Kyrillos (New Jersey Senate) — loss

  • Shmuley Boteach (House, New Jersey’s 9th) — loss

  • Newt Gingrich (GOP presidential primary) — loss

  • David Dewhurst (GOP primary, Texas Senate) — loss
Harold Simmons, Republican, $26.9 million*


  • Mitt Romney — loss

  • Connie Mack (Florida Senate) — loss

  • Rick Santorum (GOP presidential primary) — loss

  • Newt Gingrich (GOP presidential primary) — loss

  • Rick Perry (GOP presidential primary) — loss

  • David Dewhurst (GOP primary, Texas Senate) — loss

  • Orrin Hatch (GOP primary, Utah Senate) — win
Bob Perry, Republican, $21.5 million*


  • Mitt Romney — loss

  • George Allen (Virginia Senate) — loss

  • Connie Mack (Florida Senate) — loss

  • Rick Perry (GOP presidential primary) — loss

  • David Dewhurst (GOP primary, Texas Senate) — loss
Joe Ricketts, Republican, $12.9 million*


  • Mitt Romney — loss
Fred Eychaner, Democrat, $12 million*


  • Barack Obama — win
Tuesday marked the first presidential election under the new campaign finance regime installed following the 2010 Citizens United U.S. Supreme Court decision. The ruling paved the way for super PACs and nonprofits, allowing them to accept unlimited contributions from individuals, corporations and unions, which could be spent on advertising backing or opposing candidates. *As of Oct. 17, 2012 for the 2011-2012 election cycle. Source: Center for Responsive Politics and Center for Public Integrity analysis of Federal Election Commission records. Totals include contributions from individuals, family members and corporations that are controlled by the individual super donor. 

About the author

Rachael Marcus is a reporter with the Center for Public Integrity, a non-profit, non-partisan independent investigative news outlet, which contributes campaign finance coverage to Marketplace. For more of their reporting on money and politics go to publicintegrity.org.
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Jackson Pollock most important painting.

To day in this financial situation in the world, it gives me a reminder of the time in which Jackson Pollock developed his most genius style.

Ever since, his paintings has been on the top, top list of most expensive paintings in the entire world.

If you like to se it exhibited on Danish Museum, Rudolph Tegner Museum I will give you this Internet link: http://www.youtube.com/watch?v=oUE9i-mHdPM&feature=relmfu

close up: http://www.youtube.com/watch?v=StVY9ljydxw&feature=relmfu

Now it is like times always is trying to catch us or we are trying to catch time. How do we cope with this?

Some people do collect these interesting and investments and others just enjoy the beauty.

I send my greetings from Copenhagen Denmark.

PS. This painting is in my private collection to day.

Jackson Pollock most important painting.

This painting has been offered for sale to the public trough Art Price France. This painting by Jackson Pollock is the only one for sale in the world to day.

Untitled (1948)

Painting , Oil , 136x145 cm (53.54x57.09 in) , Abstract , 1948 - 1951 , Signature Yes, by artist.

Beautiful painting from Jackson Pollock last years.

The painting has artist signature on front of canvas, within the drip and line proces; Jackson Pollock.

Apparently from his late years around 1948. oil, enamel, aluminium paint on canvas

http://web.artprice.com/artist/23185/jackson-pollock

ArtLincoln

Talk about bad day. Here in Connecticut Linda McMahon has spent over NINETY million of her own money over two runs for senate and lost both. In this cycle she outspent her opponent (neither are incumbants), Chris Murphy five to one.

Yet, Murphy won comfortably. Maybe this is at least a glimmer of hope that money isn't everything in elections.

McMahon, the "job creator" has never held any elected or other governmental position. The "career politician" won. Maybe a career politician is not such a bad thing. A country and its government (or state, or town) is NOT a business. We need to learn that while many business skills are useful in government, building a business with its top down command structure is different than a functioning democracy. In a business the employees work for the boss. In a government the officials work for the voters.

All the monies wasted by these billionaires could have done some good for the people, such as repairing the crumbling infrastructure in the US.
These rich get rich because they feed off the backs of the working class and they wish to maintain their STATUS QUO.

As Karl Marx stated: The rich will do anything for the poor but get off their backs.

The financial Nazis wasted their money. TDB. I'm sure that there's a lot more where that came from. Until the Republicans finally come to the 20th century realization that America is a plural society, and no longer dominated by the white bread they can't seem not to propel to the front of the convention line, they're going to be ganged up against every four years in nat'l elections.

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