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18 N.C. Banking Inst. 83 (2013-2014)
Political Accountability, Campaign Finance, and Regulatory Reform

handle is hein.journals/ncbj18 and id is 101 raw text is: POLITICAL ACCOUNTABILITY, CAMPAIGN FINANCE, AND REGULATORY REFORM MICHAEL WALDMAN* Michael Waldman argues that campaign finance laws are ripe for reconsideration. First, the Supreme Court of the United States' recent decision in Citizens United v. Federal Election Commission has created numerous unexpected consequences, despite the case's young age. Second, the advent of political action committees (PACs), non- profit 501(c) (4)s, and other politically motivated entities poses a threat to both Democrats and Republicans alike, opening the door for reform. And, lastly, Waldman discusses plausible regulatory reforms, ultimately recommending a reform measure that provides public funds to match, by a set ratio, small donor contributions to participating political candidates. Mr. Waldman asserts that this reform will boost the power of the small donors, without seeking to reduce political spending overall or pretending that it will end the power of big money contributions. Ultimately, Waldman concludes by emphasizing the need for Citizens United to be overturned. I. INTRODUCTION I come to this issue from at least two perspectives that I want to lay out for you. The Brennan Center for Justice is affiliated with the New York University School of Law, and we are deeply engaged in the study of - and litigation around - campaign finance rules and the constitutional dimensions thereof. Also, in my previous life, I served as the policy aide in the White House working on campaign finance reform in the 1990s. I have been throwing the bricks and ducking from them as well; and, this underscores for me what I hope we can add to the discussion. The financial deregulation of the past several decades took place under a campaign finance rule regime that is no longer in * Michael Waldman has served as President of the Brennan Center for Justice at New York University School of Law since 2005, and is a leader in the fields of election law and government reform. Waldman previously served as a top White House policy aide on campaign finance reform as Assistant to the President for President Bill Clinton.

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