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Democracy NC fact checks latest claims on Wall Street’s political connections

You’ve got to hand it to the non-partisan, good government wonks at Democracy NC. No one does a better job of exposing big money connections in the North Carolina political world.

Today, they’re out with a brief report (Fetzer and Burr criticize Wall Street fundraising, but mislead on the Republicans’ haul) that debunks the attempts of Richard Burr and Tom Fetzer to portray the Democrats as the sole recipients of big Wall Street money. In fact, the report notes, Republicans have been equally happy to belly up to the trough. Here’s the big finish:

Bottom line: Both political party and most federal candidates rely heavily on Wall Street and other financial interests for campaign contributions. Given that reliance, the media and public should be vigilant about the details of any financial reform legislation and attentive to the evaluations of independent consumer-protection groups. But it’s unrealistic to expect candidates of either party to abandon their dependence on Wall Street as a source of campaign money unless they have a significant alternative, such as the “voter-owned elections” programs that provide optional public financing for some state candidates in North Carolina.”

 

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