WHEN $100 MILLION IS SPARE CHANGE, SO WHAT…?

December 11th, 2012

Robert Reich writes:

Among Rove’s investors was Sheldon Adelson, the billionaire who owns the Las Vegas Sands Corporation.

Adelson invested more than $100 million in the election, mostly on Republicans who lost – including $20 million that went to Romney’s super PAC “Restore Our Future,” $15 million to another super PAC that almost single-handedly kept Newt Gingrich’s Republican primary campaign going, and about $50 million to nonprofit Republican fronts such as Rove’s Crossroads GPS.

Adelson wasn’t alone, of course. Texas industrialist Harold Simmons invested $26.9 million; Chicago Cubs owner Joe Ricketts invested close to $13 million; a network organized by billionaire industrialists Charles and David Koch invested $400 million.

But if you think these losses mean the end of high-stakes political investing, you don’t know how these people work.

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