Secretive Millionaires Funding Online Primary For 'Independent' White House Run

They won't tell us who they are, but they are spending tens of millions as part of 'Americans Elect' to nominate and to field an 'Independent' presidential candidate in 2012.

Republican Convention 2008

December 12, 2011 |

There’s an increasing amount of buzz around Americans Elect, a peculiar Internet-based effort to shake up presidential politics. But dig a bit beneath the surface and there’s reason to be deeply skeptical of the endeavor.

The basic pitch of Americans Elect goes like this: We’ll go through the expensive and time-consuming process of getting ballot access in all 50 states. Then we’ll hold an online convention in June in which any registered voter can participate. Participants will nominate a presidential ticket including one Democrat and one Republican who will then enter the general election fray.

Here’s what the group is not so upfront about: It’s fueled by millions of dollars of secret money, there is a group of wealthy, well-connected board members who have control over Americans Elect’s nominating process, and the group has myriad links to Wall Street.

Americans Elect has been getting periodic bursts of support from prominent commentators.

“What Amazon.com did to books, what the blogosphere did to newspapers, what the iPod did to music, what drugstore.com did to pharmacies, Americans Elect plans to do to the two-party duopoly that has dominated American political life — remove the barriers to real competition, flatten the incumbents and let the people in,” wrote Thomas Friedman in July.

And in a Huffington Post column this week titled “2012: The year of the Independent?” Jon Huntsman bundler Lynn Forester de Rothschild hailed the group for offering a “revolutionary new way to nominate a bipartisan ticket to occupy the White House.” Rothschild is also on the group’s board.

There is little doubt that these kinds of hosannas will intensify as the election heats up. Americans Elect’s brand of third way-ism tends to be irresistible to newspaper editorial boards. So here are some facts about the group to keep in mind.

SECRET MONEY

The group is hoping to raise $30 million for its effort. It has already raised an impressive $22 million as of last month. So where is all that money coming from? Americans Elect won’t say. In fact, the group changed how it is organized under the tax code last year in order to shield the identity of donors. It is now a 501(c)(4) “social welfare” group whose contributors are not reported publicly.

What we do know about the donors, largely through news reports citing anonymous sources, suggests they are a handful of super-rich Americans who made fortunes in the finance industry. (More on this below.) But it’s impossible to fully assess the donors’ motives and examine their backgrounds and entanglements – important parts of the democratic process – while their identities and the size of their donations remain secret.

In response to critics, Americans Elect official Darry Sragow argues that the donors fear there will be a backlash if their names are public. “Cross those who hold power and you are banished to political Siberia, or targeted not by the Molotov cocktails conjured up by the professor, but by unresponsive or hostile government actions,” he wrote in a recent column.

ANTI-DEMOCRATIC RULES

Americans Elect officials often tout their “revolutionary” online nominating convention, which will be open to any registered voter. But there’s a big catch. Any ticket picked by participants will have to be approved by a Candidate Certification Committee, according to the group’s bylaws.

Among other things this committee will need to certify a “balanced ticket obligation” – that the ticket consists of persons who are “responsive to the vast majority of citizens while remaining independent of special interests and the partisan interests of either major political party,” according to the current draft of Americans Elect rules. Making these sorts of assessments is, of course, purely subjective.