Party Conventions: the Last Loophole for Big Donors

Big donors are pumping big money into both party's conventions, one of the last remaining loopholes in the rules governing so-called soft money contributions, the New York Times reports. And while it's all perfectly legal, the issue may test the conviction of both Barack Obama and John McCain on their desire to eliminate the influence of deep-pocketed contributors.

The candidates are outspoken against special-interest money, but neither has spoken out against the convention donations. Meanwhile, both parties are going after contributions from corporations, promising easy access to political bigwigs. Republicans are faring better, which could raise a dicey problem for Obama if he tries to help. “He’ll be going to rich individuals and to corporations with lobbyists”—just what he’s promised not to do, says a campaign finance expert. (More Democratic National Committee stories.)