Sunday, July 27, 2025
Google search engine
HomeHISTORYHistorical Highlights: July 28 - August 3

Historical Highlights: July 28 – August 3


25 years ago: Republican National Convention opens in Philadelphia, financed by big business 

From July 31 through August 3, 2000, the Republican National Convention convened at the Comcast-Spectacor First Union Center in Philadelphia, Pennsylvania. Aside from nominating George Bush for the Republican Presidential candidate and Dick Cheney as the running mate, the convention revealed the grotesque power of money in politics used to buy the favor of both capitalist parties, Republican and Democrat. 

While federal funds paid out a total of $27 million to the Republican and Democratic conventions, the major players providing the financial backing for both conventions and individual political campaigns were corporate sponsors and the filthy rich. The staggering amounts of money acted as a down payment to influence and acquire the political backing for future bills and policy. Corporate CEOs expected a return on their investment: gutting of safety and environmental regulations, huge tax breaks, anti-worker legislation, and limits on class action lawsuits.

George W. Bush photographed in 2000 [Photo by John Mathew Smith & www.celebrity-photos.com / CC BY-SA 2.0]

Money poured in from companies to be crowned as an official sponsor and donor. The largest tobacco company in the US, Phillip Morris, handed over $618,000 to the Republicans. US Airways became the official airline for the Republicans and GM the official automobile business. Banks and energy corporations donated massive sums: Citigroup, Coastal Corp., Enron Corp., El Paso Energy and Reliant Energy.

The Republicans were expected to reward 10 companies at the platinum level for donating $1 million.

Some corporations handed over cash into the coffers of both big-business parties:  Motorola, AT&T, General Motors, Microsoft, SBC, and UPS. The defense contractor Lockheed Martin, which benefited immensely from government contractors to sustain American imperialism’s weaponry abroad, contributed a lump sum of $100,000 to both conventions. A public announcement stated that the dual donations were “part of good government—we support the democratic process.”

According to a report released during the Republican convention, some $90 million of the $137 million in “soft money” donations to the Republican Party came from only 739 contributors, including 139 who gave over $250,000. More than half of the 139 concealed their identities from the Federal Election Commission by breaking up their contributions into smaller amounts or routing the donations through third parties.

The GOP’s unpopular far-right political program based on Christian fundamentalism, attacks on the separation of church and state and public education, did not dissuade the financial oligarchy from buying political influence. It was part of a fundamental assault on bedrock programs and policy that corporate America hoped to cash in on. The Wall Street Journal paid tribute to this shameful display of the corporate oligarchy’s power over the electoral system with the headline: “Bus’’s Donors Have a Long Wish-List and Expect Results.”

50 years ago: US and Soviet Union sign Helsinki Accords

On August 1, 1975, the Helsinki Accords, formally known as the Final Act of the Conference on Security and Cooperation in Europe (CSCE), were signed. The accords, named for their host city, the capital of Finland, brought together leaders from 35 states. These included the United States, Canada, the Soviet Union, and nearly every European country.



RELATED ARTICLES

Leave a reply

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments