Posted on 01/12/2005 9:45:10 AM PST by gidget7
A group of billionaire philanthropists are to donate tens of millions more dollars to develop progressive political ideas in the US in an effort to counter the conservative ascendancy.
George Soros, who made his fortune in the hedge fund industry; Herb and Marion Sandler, the California couple who own a multi-billion-dollar savings and loan business; and Peter Lewis, the chairman of an Ohio insurance company, donated more than $63m (£34m) in the 2004 election cycle to organisations seeking to defeat George W. Bush.
At a meeting in San Francisco last month, the left-leaning billionaires agreed to commit an even larger sum over a longer period to building institutions to foster progressive ideas and people.
Far from being disillusioned by the defeat of John Kerry, the Democratic presidential candidate, the billionaires have resolved to invest further in the intellectual future of the left, one person involved said.
Their commitment to provide new money comes amid criticism of the efforts of high-profile donors such as the Hungarian-born Mr Soros to sway US politics as well as doubts about the effectiveness of record funding in helping the Democratic cause in 2004.
The details of the San Francisco meeting are closely held. Mr Soros and his son Jonathan, the Sandlers and Mr Lewis asked aides to leave the room as they discussed the planned financial commitment.
But the still-evolving plan, according to one person involved, is “joint investment to build intellectual infrastructure”.
The intention is to provide the left with organisations in Washington that can match the heft of the rightwing think-tanks such as Heritage Foundation and the American Enterprise Institute. At a state level, the aim is to build what one person called a “deeper progressive bench”.
The sums involved are the subject of speculation: one person said he had heard a commitment to spend more than $100m over 15 years, another said at least $25m over five years. Several people said their understanding was that the billionaires had decided to spend more, rather than less, than they did in 2004.
Mr Soros donated $27m, the Sandlers $13m and Mr Lewis $23m to so-called 527 groups privately-funded political organisations during the 2004 campaign, according to PoliticalMoneyLine, the campaign finance tracking service.
Stephen Bing, a film producer and heir to a real estate fortune who donated $13m, is also expected to be involved in the investment in progressive infrastructure.
Andrew Stern, who is president of the Service Employees International Union, has been working to include organised labour in the initiative.
Leftwing policy experts have already got wind of the new funds. One former aide to Mr Kerry said there had been talks with the Center for American Progress about making permanent the network of foreign policy experts established by Democrats in the 2004 campaign. He said he had been told: “Money is not a problem.”
Where are the conservative billionaires? Money talks!
Dont worry. We do not call press conferences. Let your alms be done in secret...and God will reward you openly.
Wisdom the the likes of Soros and his coterie could never stomach....and that is why they'll never win.
Which company is this, so I know not to do business there. The others I know and avoid.
Can someone please define what a "ceo-con" is?
To date, the best definition I have heard came from Limbaugh. He says it is liberal code for "republican jews."
Hope they spend it as effectively as they did in the last election cycle.
Not surprised that he is just another liberal liar on the long list of liberal liars.
After spending all those millions of dollars on a lost cause, what do they do next? Spend more money!
Typo. Sorry. ceo-con should be neo-con.
George Soros is going to die a pennyless man if he plans on investing in the intellectual future of the left.
BTTT
But hey, Mr. and Mrs. Regular Citizen! Don't you dare give a candidate more than a couple thousand bucks, or advertise during the time we tell ya...
It can't be true! Libs that are closet anti-semites?! I won't believe it!!/sarcasm
Can someone please define what a "ceo-con" is?
To date, the best definition I have heard came from Limbaugh. He says it is liberal code for "republican jews."
I heard that on Rush too, have often wondered the same thing?? anyone??
Socialism in America, bought and paid for by billionaires.
After spending all those millions of dollars on a lost cause, what do they do next? Spend more money!
The biggest problems I see from all this money, is keeping the Barney's and the Kennedy's and that ilk, in office, continuing to push the gay agenda and socialism in schools and acadamia, and continuing to get hate crimes laws passed.
wasn't Soros supposed to join a monastery after the election?
Now is the time to switch to Geico.
But hey, Mr. and Mrs. Regular Citizen! Don't you dare give a candidate more than a couple thousand bucks, or advertise during the time we tell ya...
Exactly! MoveOn, and all those pervert organizations get a lot of the money.
The Sandlers own Golden West that operates World Savings. I have had an account there for years but will be moving it elsewhere. Here is a link to info about World Savings: http://www.worldsavings.com/servlet/wsavings/golden-west/gw-questions.html
In this usage it is meaningless in that Soro's effort is to fight all Republican ideas. Neo-con is being used soley as a term to try to create divisiveness in the GOP. The correct usage would be to describe a socially liberal Republican who is a hawk. But since Soro's is fighting social conservativism, he is misusing the term as do about all those on the left.
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