Times July 16,1999). This number has more then doubled from last years 2.53 million. (New York Times July 16,1999). Last year a party was held in one of New Yorks hotels. It was a fund raiser that raised more then $3 million dollars. This is something politicians do in their final stages of campaigning to raise money (New York Times July 16, 1999). Many wealthy people such as the agricultural giant, Archer Daniels Midland, and insurance company, Reliance Group Holding were there, and have contributed more then $30,000 each to campaigns such as Bill Clinton and Bob Doles presidential campaigns (New York Times July 16, 1999). The soft money loophole was created, not by Congress, but by the Federal Election Commission in an obscure administrative ruling in 1978. For years this potential loophole remained largely dormant. It emerged from this dormancy in the 1988 presidential campaign, first when the Dukakis campaign, and then the Bush campaign, began aggressive soft money fundraising. This fundraising involved the solicitation of corporate and union treasury funds, as well as unlimited contributions from individuals (Common Cause, Soft money Laundromat). A New Jersey business man who pleaded guilty to funneling illegal donations to the Clinton-Gore campaign became the 19th person charged by the F.E.C., in the investigation of fund-raising abuse (Washington Dateline September 15,1999). Lawrence Penna, President of the Investors Associates securities firm in Hackensack, was accused of conspiring to reimburse employees who wrote personal checks for $12,000 in illegal donations to the Clinton-Gore campaign. He will be sentenced to prison for up to five years and will be fined up to $25,000 (Washington Dateline September 15,1999). Federal election laws prohibit individuals from donating more than $1,000 to any federal candidate at one time (Janda/Berry/Goldman pg. 165). The money is what gets everyone the best of people, media ads,...
