LOD: Money for Lawmakers

Here’s a story that deserves more attention: NC House Rules Co-chair Stephen LaRoque (R-Kinston) loaned his for-profit management company $200,000 from a non-profit organization that he set up to channel federal small-business loans to high risk ventures in rural North Carolina – and then he refused to disclose this insider dealing on the non-profit’s report to the IRS – abuses begging for state and federal investigation. The story, by Sarah Ovaska, is part of the on-going series on NC Policy Watch’s investigative blog; why aren’t more reporters digging into this unraveling scandal. Another blog, this one by Kirk Ross, provides the details of state Rep. David Rouzer’s new campaign finance report for his bid to Congress – piles of money from state lobbyists, hog farmers, state PACs, etc. You’ll recall that Rouzer (R-Benson) held a big fundraising event in late September hosted by several Raleigh lobbyists; because Rouzer is running for a federal office, the event didn’t violate the NC law against a state legislator raising money from lobbyists. Maybe his campaign will turn his cynical use of fundraising loopholes into an asset for serving in Congress. The Winston-Salem Journal describes how the money chase affects Congressional candidates, even those with weak opposition, including Democrat Mel Watt and Republican Virginia Foxx. Without a public campaign financing alternative, they all hustle the private money suppliers and often funnel a hefty amount into their party’s caucus accounts to shore up colleagues in tight races. Holding or gaining power takes a lot of money, and that’s a trap. The demand of the Occupy movement to stop corporate-financed elections requires, at a minimum, a strong public financing alternative to challenge the status quo.