Station groups have been touting a possible flood of political dollars this year from corporations after the Supreme Court ruled they can spend as much as they want to influence elections. But a
station executive said last week he is not expecting the bounty, largely because corporations and interest groups for years have found ways to spend through other channels.
Even with some
primaries looming, a Bloomberg BusinessWeek report quoted a prominent Washington attorney this week saying so far not one large company "has made a palpable move to take advantage of (the
ruling).�
With President Obama and a bi-partisan coalition in Congress pressing for aggressive financial reform, will Wall Street fight back with ads? Would it craft its
own version of “Harry and Louise,� the famed campaign looking to combat President Clinton’s health care reform efforts in the 1990s?
Likely no. Banks, derivative traders, subprime mortgage experts are under too much scrutiny and that would probably bring a backlash. Imagine a Goldman Sachs ad!
But forgoing advertising
doesn’t mean Big Finance is cooling its heels. Obama was to give a speech today asking financial exces to stop “furious efforts� through
lobbyists to block reform, according to the Washington Post.
TV stations could still benefit from spending for candidates and parties later this year – but perhaps more
likely from unions, who have been advertising for years, not Union Carbide.