Billionaires to accelerate donations to progressive think tanks.

[Carolab]

Soros Group Raises Stakes in Battle with U.S. Neo-Cons
By James Harding
The Financial Times

Tuesday 11 January 2005

A group of billionaire philanthropists are to donate tens of millions more dollars to develop progressive political ideas in the US in an effort to counter the conservative ascendancy.

George Soros, who made his fortune in the hedge fund industry; Herb and Marion Sandler, the California couple who own a multi-billion-dollar savings and loan business; and Peter Lewis, the chairman of an Ohio insurance company, donated more than $63m (£34m) in the 2004 election cycle to organisations seeking to defeat George W. Bush.

At a meeting in San Francisco last month, the left-leaning billionaires agreed to commit an even larger sum over a longer period to building institutions to foster progressive ideas and people.

Far from being disillusioned by the defeat of John Kerry, the Democratic presidential candidate, the billionaires have resolved to invest further in the intellectual future of the left, one person involved said.

Their commitment to provide new money comes amid criticism of the efforts of high-profile donors such as the Hungarian-born Mr Soros to sway US politics as well as doubts about the effectiveness of record funding in helping the Democratic cause in 2004.

(more)

http://www.truthout.org/docs_05/011305W.shtml

[aden_nak]

1. Oh! I can develop progressive ideas. And I'll do it cheap. Say $3 million.

[Carolab]

2. Like it or not, it's going to take a lot of $ to fight a lot of $. n/t

[housewolf]

3. Hooray!

This makes me happy, this is GOOD news!

I've been so worried that Soros and other backers would feel that the money they put into the campaign was a big loss and walk away. I am thrilled to hear that they are willing to keep fighting.

[babylonsister]

4. See this thread

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=1146462&mesg_id=1146462

[ProgressiveDepot.com]

5. When Democrats finally have money, you hear criticism

that the money didn't help them in this election. BS. The money may not have won an election, but it fired up an awful lot of people to remain active and be ready earlier for the next fight. Money can't cure every ill, but it's very hard to win elections without it. The Republicans have had a much more steady source for a longer period of time. If people like Soros keep contributing, the results will come.

[babylonsister]

6. Welcome to DU, PDC! nt

[ArkDem]

7. Let the corporate wars begin.