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Candidates in Hotly Contested Races Collect Big Money from Wall Street InterestsBy Megan R. Wilson on September 27, 2010 3:32 PM

Three years after the national economy began melting down, money remains on Americans¶ minds, as manyvoters wonder what public officials have done to improve their financial station. Among pressing factors facingthe economy, the national unemployment rate continues hugging the 10 percent mark. Additionally, banks remain

wary about lending to businesses and consumers -- despite having $1 trillion in excess reserves at the U.S.Federal Reserve.

Stale, overused, even loathed is the juxtaposition of ³Main Street,´ referring to the average American, and ³WallStreet,´ referring to the corporate banking and financial world. But the effect Wall Street has on politicianscampaigning to represent the public continues to be staggering.

Since January 2009, the top 20 House beneficiaries of the people and political action committees associated withthe finance, insurance and real estate (FIRE) sector have together collected more than $16.2 million from these interests, according toa Center for Responsive Politics analysis. Meanwhile, the Senatecandidates and sitting senators to receive the most from Wall Streetinterests raked in more than $41.3 million since January 2005 -- the

beginning of their six-year election cycle. With the exception of their twotop recipients -- Sen. Charles Schumer (D-N.Y.) and Senate MajorityLeader Harry Reid (D-Nev.) -- the sector heavily favored Republicans inthe Senate, but it remained eerily equal when donating to Housemembers.

Robert Shapiro, a political science professor at Columbia University, said Wall Street¶s donation patterns are abasic evaluation of cost-benefit analysis and depend mostly on who is already the most supported.

³There¶s an old saying in politics: µDon¶t make no waves, don¶t back no losers,¶´ he said, adding that it is importantto note what money is being given to candidates in safe seats.

Some of those ³safe seats´ include members with key oversight and leadership positions.In New York, the home of Wall Street, Schumer ranks within top five recipients of FIRE dollars in the Senate.

Along with incumbent Sen. Kirsten Gillibrand (D-N.Y.) -- running in a less-safe seat but also a top-five FIREmoney recipient -- the New Yorkers haves collected $7.7 million combined since 2005. That money is went toboth their respective campaign committees and leadership PACs. Schumer, specifically, has pulled in 13 percentof the overall total given to the top 20 Senate beneficiaries.

In the House, Minority Whip Eric Cantor (R-Va.), Minority Leader John Boehner (R-Ohio) and House FinancialServices Committee Chairman Barney Frank (D-Mass.) are all safe in their respective seats and have alsobenefited greatly from the FIRE sector -- receiving more than $4.21 million in Wall Street-related dollars combinedsince last January 2009. This again includes contributions to their leadership PACs and campaign committees.

Cantor is considered to be a "rising star" in the party, and Boehner is slated to become the speaker of the Houseif the Republicans reclaim that body of Congress, which many predictors suggest could happen.

The FIRE industries¶ images have been tarnished because of the public and legislators looking for recession,housing bubble and credit crunch instigators. Notable companies include Goldman Sachs, American InternationalGroup (AIG) and other entities politicians deemed ³too big to fail,´ qualifying them for billions in governmentassistance to remain solvent.

Being too cozy with Wall Street can present an image problem with politicians, as well. Sen.Chris Dodd (D-Conn.), head of the Senate Banking Committee, decided not to seek a sixth term in the Senate -- arguably due tohis close ties to executives in the banking industry.

Shapiro, the political science professor, said there are two ways to view the ³significant influence´ that Wall Streetexerts over Washington¶s decision-making: 1) The cynical view -- that this money is being used to expressly affectoutcomes within a campaign or platform. Or, 2) The interpretation that Wall Street is essential to a functioningeconomy, so their input matters in a meaningful way.



The Dodd-Frank financial regulatory reform bill signed into law by the president in July will also be a huge factor inthe 2010 midterms. Democrats plan to use the law as evidence of their accomplishments in office. But justbecause the legislation has passed doesn¶t mean an extinguishing of FIRE. (OpenSecrets Blog reportedextensively on this bill and the interests vying to influence as part of our "Crossing Wall Street" series, availablehere.)

Derivatives regulation continues to be a highly contested topic among individuals in the financial industry, and, asShapiro notes, tax policy, including taxes on capital gains will be another issue Wall Street will be fighting to alter.

New York University Professor Patrick Egan said that Wall Street has shifted their major allegiances and becomenegative about the Democrats, who have largely tried to place restrictions and regulations on them. (The trend of Wall Street money shifting away from Democrats this year has been previously reported by OpenSecretsBlog and suggests the sector is betting on Republican success.)

"The Democratic party is between a rock and a hard place," Egan said, adding that the left has not gotten muchcredit from the public for the same measures financial industries are calling too harsh.

"People are saying a substantial policy change, but Democrats haven¶t been able to talk about that to ordinaryvoters," he continued. ³If anything, Democrats are losing out [from both sides] in terms of the financial servicesindustry.´

Shapiro said that unexpected Wall Street donations may also be stemming from legislation aimed at other areas.

³The health care reform bill put an extra tax on the rich [to help fund it],´ he said. ³Clearly, the most peopleaffected by that would be people at these sectors.´

Egan, an expert in public opinion as it relates to political institutions, said that any relationship to Wall Street couldbe ³pretty poisonous´ in these elections because of a negative public reaction to the government¶s bailout via theTroubled Asset Relief Program (TARP) and other financial intuition rescue measures.

³This is a midterm election. A lot of voters are not paying attention and may not start tuning in until the end,´ hesaid. ³That said, if there was a year when contributions from Wall Street would matter, it¶s 2010, because theatmosphere is so sour... But an opponent would have to make a lot of hay out of the receipts from Wall Street for it to matter to people.´

It is no secret that running for office is an expensive venture, but campaign experts say there are specific things tolook at while connecting the dots between contributions and policy.

Egan and his NYU colleague, Jonathan Nagler, assert that outright quid pro quo situations hardly ever exist, butrather a hard-to-connect political correlation between donations and access more often occurs.

Nagler, an expert in congressional campaigns and elections, said it¶s important to look at who exactly is gettingthe money and the state of their political situations.

³Incumbents who are in no danger of losing elections have political action committees and other donors continueto hand them the money,´ he said.

With all the money flying around, these are most contested the races to watch that feature strong Wall Streetundercurrents:

Nevada U.S. Senate race

Sen. Harry Reid (D-Nev.) Amount from FIRE people and PACs: $4 million since 2005 (No. 2)



Elected to the U.S. Senate in 1986, Reid has since become the majority leader of the body. He is a fiercedefender of the Obama administration¶s policies. Back in his home state, however, unemployment is the highestin the country, and Reid¶s popularity has tanked. Polls show Reid holding a narrow margin ahead of hisRepublican challenger, Sharron Angle. Angle is one of the candidates fueled by enthusiasm from the Tea Partymovement. Reid¶s top financial industry donors are the people and PACs of investment firm Blackstone Group,investment bank Goldman Sachs and financial service firm JP Morgan Chase. Donations from the PACs andemployees of these three firms total more than $219,000 since 2005.

Illinois U.S.Senate race

Sen. Mark Kirk (R-Ill.) Amount from FIRE people and PACs: $1.9 million since 2005 (No. 7)

Kirk is attempting to move from the U.S. House of Representatives to fill President Barack Obama¶s former U.S.Senate seat this election cycle. He has served five terms in the predominantly Democratic 10th district of Illinois, voting to repair ³severely distressed´ public housing and cap prices on gasoline under a presidentiallyappointed period of ³energy emergency,´ but he also voted against the various stimulus bills and monitoring of

sub-prime mortgage brokering and Troubled Assets Relief Program (TARP) bailout distribution. The majority of Kirk¶s FIRE-related donations come from employees at various investment firms. JP Morgan Chase, through itsPAC and employees, ranks among Kirk¶s top donors.

Connecticut 4th Congressional District race

Rep. Jim Himes (D-Conn.) Amount from FIRE people and PACs: $849,500 (No. 5)

Himes, a freshman this term, represents Connecticut¶s 4th District, which has trended Republican in years past. Aproponent of affordable housing, this former Goldman Sachs vice president has worked to craft legislation aimingto prevent another housing bubble from occurring and regulate sub-prime mortgages. Although his backgroundstems from the FIRE sector, many of his donations come from constituents and not former pals at Goldman, hiscommunications director, Liz Kerr, told OpenSecrets Blog .

That said, Goldman Sachs employees gave Himes $150,000 to support his first run for Congress -- and thecompany's PAC contributed $5,000. This cycle, Goldman Sachs employees have contributed $22,850 to hiscampaign. Other major players in Himes¶ sophomore run include Massachusetts Mutual Life Insurance, Tudor Investment, securities firm Credit Suisse, Bank of America, the financial services company Deutsche BankGroup,CitiGroup and JP Morgan Chase. These non-Goldman Sachs companies, through their PACs andemployees, have donated $90,550 since 2009.

Pennsylvania 11th Congressional District race

Rep. Paul E. Kanjorski (D-Pa.) Amount from FIRE people and PACs: $784,800 (No. 6)



Kanjorski is the chairman of the House Financial Services Committee¶s Subcommittee on Capital Markets,Insurance, and Government Sponsored Enterprises. Opponents claim that he is too friendly with the financialindustries he is supposed to regulate, but he also has remained an advocate for consumer protections. A member of the House since 1985, Kanjorski¶s latest achievement is his work related to the Bernie Madoff scandal.Kanjorski represents Pennsylvania¶s 11th District, which is one of the more contentious sites this election season.The Cook Political Report currently rates the district as a toss up, meaning either the Democratic incumbent or hisopponent could prevail. Kanjorski's top donors this campaign include mostly trade organizations, such as theCredit Union National Association, the Managed Funds Association, the Property Casualty Insurers Association of

America, the National Association of Insurance and Financial Advisors and the Independent Community Bankersof America.

Below is a table showing the top 20 Senate beneficiaries of money from the political action committees andindividual employees of the FIRE sector, including contributions to their leadership PACs and campaigncommittees since January 2005:

Candidate Race FIRE_Total

Charles E. Schumer (D-N.Y.) NYS2 $5,395,989

Harry Reid (D-Nev.) NVS2 $3,991,738

Richard C. Shelby (R-Ala.) ALS2 $3,437,597

John McCain (R-Ariz.) AZS1 $2,973,912

Kirsten Gillibrand (D-N.Y.) NYS1 $2,287,721

Rob Portman (R-Ohio) OHS2 $1,970,152

Mark Kirk (R-Ill.) ILS2 $1,941,074

Johnny Isakson (R-Ga.) GAS2 $1,832,825

Charlie Crist (I-Fla.) FLS2 $1,827,018

Mike Crapo (R-Idaho) IDS2 $1,819,990

Blanche Lincoln (D-Ark.) ARS2 $1,802,064

John Thune (R-S.D.) SDS1 $1,649,147

Richard Burr (R-N.C.) NCS2 $1,535,940

Scott P. Brown (R-Mass.) MAS1 $1,329,364

James W. DeMint (R-S.C.) SCS1 $1,325,121

Chuck Grassley (R-Iowa) IAS1 $1,297,700

Michael F. Bennet (D-Colo.) COS1 $1,271,232

Roy Blunt (R-Mo.) MOS1 $1,243,234

Barbara Boxer (D-Calif.) CAS1 $1,211,795

Pat Toomey (R-Pa.) PAS1 $1,196,321

The following table shows the top 20 House beneficiaries of money from the political action committees andindividual employees of the FIRE sector, including contributions to their leadership PACs and campaigncommittees since January 2009:

Candidate Race FIRE_Total

Eric Cantor (R-Va.) VA07 $2,115,647

John Boehner (R-Ohio) OH08 $1,343,606

Spencer Bachus (R-Ala.) AL06 $1,053,850



Steny H. Hoyer (D-Md.) MD05 $954,450

Jim Himes (D-Conn.) CT04 $849,498

Paul E. Kanjorski (D-Pa.) PA11 $784,799

Melissa Bean (D-Ill.) IL08 $773,666

Scott Murphy (D-N.Y.) NY20 $769,527

Barney Frank (D-Mass.) MA04 $754,707

Jeb Hensarling (R-Texas) TX05 $743,488

Carolyn B. Maloney (D-N.Y.) NY14 $733,374

James E. Clyburn (D-S.C.) SC06 $684,814

Joseph Crowley (D-N.Y.) NY07 $625,675

Pete Sessions (R-Texas) TX32 $596,506

Charles B. Rangel (D-N.Y.) NY15 $588,997

Dave Camp (R-Mich.) MI04 $588,807

Ron Klein (D-Fla.) FL22 $584,080

Kevin McCarthy (R-Calif.) CA22 $574,275

Patrick J. Tiberi (R-Ohio) OH12 $555,452

Paul Ryan (R-Wis.) WI01 $531,520

Original blog posting URL: http://www.opensecrets.org/news/2010/09/media-professionals-and-

journalists-donate.html Journalists, Media Professionals Donating Frequently to Federal PoliticalCandidates this Election CycleBy Megan R. Wilson on September 14, 2010 12:23 PM|More

Last year, Christopher Hayes gave $250 to the congressional campaign of a good friend, AlabamaDemocrat Josh Segall.

That¶s hardly noteworthy, but for one factor: Hayes is the Washington, D.C., editor of T he Nation, a left-leaningnews magazine that covers U.S. politics. And his political donation is not an anomaly in journalism, wheredonating to or otherwise advocating for politicians is often taboo ± if not prohibited outright by some newscompanies.

Hayes is one of 235 people who identified themselves on government documents as journalists, or as working for news organizations, who together have donated more than $469,900 to federal political candidates, committeesand parties during the 2010 election cycle, a Center for Responsive Politics analysis indicates.

People identifying themselves as working for hard news outlets such as the Washington Post , the New York T imes, the New York Post , News Corp., Vanity Fair and Reuters are among the listed donors. Also listed areemployees from outlets offering lighter fare -- ESPN, Vogue -- or community news. Some have donatedthousands of dollars.



The average contribution per person identified is eight times Hayes¶ amount, and because of some big-spendingmedia professionals, that number is slightly skewed upwards -- with the median amount donated coming in at$500. Sixty-five percent of all identified donations went to Democrats, the Center¶s research indicates.

To download an itemized spreadsheet of self-identified journalists and other people working for newsorganizations, click here: Media Donations 091410.xls

Hayes, for his part, says he views his political donation with nuance.

He explains his relationship with his friend-turned-candidate would, for example, ethically eliminate him frombeing able to cover anything related to the Alabama 3rd Congressional District race, in which his friend wasrunning. (He lost.)

³My own personal feeling is that I don¶t donate to political campaigns,´ Hayes said, adding that he made theexception simply out of ³personal admiration´ for his friend, Segall.

³Whatever threat of conflict is already there. It seems like the least of it to throw an extra $250 on top of it.´

MUST JOURNALISTS µSIT BACK PASSIVELY'?

Despite the potential for controversy, some journalists who¶ve made political contributions reject the notion thattheir interests are conflicting, saying their action as private citizens and as journalists are not mutually exclusive.

Paul Tharp, a business reporter for the New York Post , last year donated $750 to Rep.Michael McMahon (D-N.Y.), the Center¶s analysis of Federal Election Commission records show. Tharp said his two donationsrepresent a ³satisfaction with [McMahon¶s] public service´ and his work with the arts.

³Just because I am a reporter doesn¶t mean I give up my rights,´ Tharp said. ³I have an interest in public service,but not politics. I cover business.´

Nicholas Benton, founder, owner and editor-in-chief of the Falls Church News-Press, a weekly paper in northernVirginia with a circulation of 30,000, agreed, saying he expects his readers to ³appreciate´ him ³engaging as afully enfranchised U.S. citizen.´

During the 2010 cycle, Benton has spread more than $4,000 among the Fairfax County Democratic Committee,the Democratic National Committee, the Democratic Party of Virginia, the Eighth District Democratic Committee

and the Arlington Democratic Joint Federal Campaign.

A newspaper, he said, is not so much about providing balance, but about providing readers with the truth bypointing out different points of view.

³To sit back passively and echo what political candidates and politicians say without providing the readers of anassessment of the relative merits on the standpoint of truth and of facts is a disservice,´ Benton said, adding thatletters to the editor and op-ed columns provide a ³failsafe´ to give readers ³a sense they can judge what we¶vesaid.´

TOUGH POLICIES AGAINST POLITICAL DONATIONS

Major news outlets look dimly upon their journalists participating in politics.

The Associated Press, the New York T imes, Reuters, ABC News and other media companies have specificguidelines for journalists that pertain to activities that could jeopardize the perception of journalistic integrity --including making political donations. These outlets do not distinguish among types of employees ± direct politicalparticipation is forbidden, at least without the permission of a supervisor.

The Society of Professional Journalists likewise features a conduct code that recommends journalists ³avoidconflicts of interest, real or perceived´ and ³remain free of associations and activities that may compromiseintegrity or damage credibility.´

Hayes, who is also a contributor to MSNBC and a fellow at Harvard University¶s Edmond J. Safra FoundationCenter for Ethics, said T he Nation has no specific political contribution policy of which he is aware.



³We¶re pretty -- and this is ironic, considering the politics of the magazine -- laissez-faire,´ he said. ³We believe intransparency and disclosure, we¶re all pretty zealous about disclosing things.´

Aaron Quinn, a journalism professor specializing in ethics at California State University, Chico, says journalistsare ever-increasingly becoming ³public figures´ in ways similar to public officials, celebrities and the like. Thismakes their actions more open to scrutiny, he said.

Furthermore, the mere appearance of a conflict of interest is effectively the same as actually having one, Quinnsaid.

In discussing the notion of how journalists¶ political donations may appear to the public at large, Benton, the FallsChurch newspaper owner, said he ³could care less about an appearance of something.

³I am not a public official,´ he said. ³I¶m not looking to the public for a job.´

REPORTERS' POLITICAL DONATIONS ARE 'NOBODY'S BUSINESS'

Like Hayes, other media professionals have employed their checkbooks for political purposes in the name of camaraderie.

Pulitzer Prize-winning journalist Seymour Hersh donated $1,000 to Rep. Walt Minnick (D-Idaho) during thiscampaign cycle. Hersh said the two met while Minnick worked in the Nixon administration.

³I¶ve always respected him,´ said Hersh, a frequent contributor to the New Yorker who became famous for revealing the My Lai Massacre in 1969, and continues to write investigative pieces, including exposing elementsof the Abu Ghraib prison scandal in 2004.

Hersh said it¶s ³great´ that journalists are giving money.

³A: It¶s nobody¶s business. B: It¶s not like I¶m giving money to a presidential candidate or a party,´ he added,saying that he¶s also given money to a Washington state senatorial candidate, who is Republican. ³I¶m givingmoney to people I think are good people.´

Bethany McLean, a contributing editor for Vanity Fair and co-author of T he Smartest Guys in the Room, a bookabout the Enron scandal -- donated $2,000 to U.S. Senate candidateDavid Hoffman (D-Ill.), who this year lost in aprimary to Alexi Giannoulias.

Hoffman, she said, is a ³close personal friend´ of her husband. Her donation to Hoffman is a direct result of knowing him personally.

Because of ethics concerns, the political contribution to Hoffman represents the first time McLean has givenmoney to a candidate or party, she said. But McLean says her donation to Hoffman isn¶t a conflict of interestbecause it would not affect her coverage.

³His campaign platform was one of fixing corruption in Chicago,´ McLean said. µI don¶t cover Chicago, I don¶tcover politics.´

Officials at Vanity Fair and Conde Nast , which owns the magazine, did not respond to questions about whether the company has a code of ethics for its employees, and if so, what it says about political contributions.

William Garth, owner of the Chicago Citizen, donated $1,500 to his friend, congressional candidate CheryleJackson.

³I am the owner, not a reporter, so I don¶t have to make a judgment on the candidates,´ he said in response toquestions regarding a potential conflict of interest. ³The newspaper didn¶t give her the money; I gave her themoney.´

The Chicago Citizen says on its website that it is a progressive organization and the largest chain of weeklynewspapers in the Chicago area that caters to a black audience.

While friendship has led some media professionals into their first forays into political activity this election season,others have been financially active in the past.



Tharp, the New York Post business reporter, acknowledges he has donated to conservatives in past years, andFEC data shows he made a $1,000 donation to McMahon in 2008.

Hayes has also previously donated to a politician.

That came in the fall of 2003, when Barack Obama was running for the U.S. Senate in Illinois. Hayes¶ friendsthrew him a keg party for his birthday, the now-31-year-old editor said, and they charged $10 per head with theproceeds donated to Obama¶s campaign.

NOT ALL DONATIONS CREATED EQUAL

In some cases, donations by people identifying themselves as journalists aren¶t clear-cut.For instance, donations from employees of apolitical publications and outlets such asVogue, Glamour , Men¶sHealth and ESPN -- employees of which have made political donations this cycle, according to the Center¶sreview of federal data -- are arguably less notable than those of a general assignment, political or businessreporter or editor. The same could be said for editors at publishing houses that in part produce journalistic works.

Some of these people are, however, among the most generous political donors this election cycle.

For example, Anna Wintour, the editor-in-chief of Voguemagazine, maxed out contribution limits last year, giving$30,400 to the DNC, as well as donating $2,000 to Rep.Timothy Bishop (D-N.Y.) in October. ESPN ExecutiveProducer Maura Mandt also gave $30,400 to the DNC during this election cycle.

Wintour and Mandt are two of just six media professionals who have contributed more than five figures sinceJanuary 2009.

The others include:

y G.O. Nutting, of West Virginia, publisher of Ogden Newspapers, who has contributed $43,400 to the NationalRepublican Senatorial Committee

y Beth Shaw, a self-employer financial writer based in New York, who has contributed $35,200 -- maxing out toSen. Ron Wyden (D-Ore.) and the DNC last year

y Richard Mellon Scaife, owner and publisher of the Pittsburgh T ribune-Review , who has contributed $14,400 this

cycle between the Republican National Committee, Pennsylvania Republican Senate candidate Pat Toomey andLouis J. Barletta, the Republican candidate in eastern Pennsylvania's 11th Congressional District

y Cox radio host Herman Cain, who has contributed $13,600 split between five Republican congressionalcandidates

A few journalists OpenSecrets Blog attempted to reach appear to no longer work for the companies listed as their employers on FEC forms, including entries from people listed as working for the Washington Post , New York T imes and Dallas Morning New s. In these cases, the individuals did not appear in public listings of the companies¶employees, and the publications did not reply to inquiries about the individuals¶ employment status.

(Update, 12:53 p.m. Sept. 15: The New York T imes' Diane McNulty confirmed in an e-mail that two people listedin FEC records as T imes employees indeed no longer work for the company, and when they did, were "corporateemployees with no connection to the newsroom" and would "not be covered by the T imes' journalistic guidelinesin any case.")

Other anomalies explain why journalists who seemingly made a political donation actually did not.

Take the case of ABC News reporter Kristina Wong who federal records indicate twice donated $200 to theDemocratic Party of Virginia.

Wong says the ³donations´ stem from the purchase of two $200 presidential inaugural ball tickets, as she hadbeen scheduled to cover the event. Wong ended up covering another story, and the tickets were returned, shesaid in an e-mail. FEC records corroborate her account by displaying the initial figures as negative amounts aswell, and in previous election cycles, journalists purchasing inaugural ball tickets proved to be common practice.



Wong also wrote in an e-mail that ABC¶s policy would prohibit journalists from donating to a political race.

SOME POLITICALLY ACTIVE JOURNALISTS AREN¶T TALKING

Of the 22 political contribution-making media professionals OpenSecrets Blog attempted to contact, nine returnedvoice and e-mail messages. Of them, three declined to comment: Christine Williamson, a hedge funds reporter ata Crain Communications publication calledPensions and Investments, Daniel O¶Neill, a web designer at asubsidiary of MSNBC.com and Joseph Scotchie, an editor of a community paper in New York who donated$1,250 to the NRSC.

Notable among those who did not return messages is Melissa Stull, who has worked for Reuters for 20 yearsaccording to her profile on LinkedIn and is listed in federal records as ³Reuters Attorney Editor.´ She donated$600 to the DNC.

The spokesperson for Reuters, which operates a large international news wire service, also did not reply toquestions regarding whether the company would take issue with Stull¶s donations.

Others who did not respond include: The managing editor of the New York Post , Jesse Angelo, who donated atotal of $3,400 to Kentucky Democrat Jack Conway¶s campaign for U.S. Senate; Martin Peretz, managing editor of T he New Republic , who has donated $4,800 to Sen. Charles Schumer (D-N.Y.); and Washington Post ¶s MaryBannon, who spread $5,000 in donations to six Democratic congressional candidates and one Republican.Bannon¶s position at the Post is alternately is listed in federal documents as ³marketing,´ ³director of strategicinitiatives´ and ³director of research.´

Hayes, T he Nation¶s Washington editor, says journalists who are willing to make a political donation should atleast be willing to explain it to another journalist inquiring about it.

He added that while it would likely be best for journalists to stay out of political donations altogether, ³it¶s worthconsidering what we think a contribution is going to accomplish,´ adding that politicians are no more likely to meetwith reporters if they throw some cash their way.

³If you were paying for access,´ Hayes said, ³that would be a scandal.´

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