The Money Men: The Real Story of Fund-Raising's Influence on Political Power in America

Campaign finance reform was the touchstone of John McCain's ill-fated run for the presidency, and Birnbaum (The Lobbyists) makes it clear why. After hammering away at the difference between soft money (contributed to political parties, not capped by law) and hard money (given directly to candidates and limited by law), this generally workmanlike introduction to campaign fund-raising really comes to life when it begins to describe the impact soft money has on the political system. By far the most illuminating chapter is ""The Real Party Bosses,"" in which Birnbaum maintains that elections offer a choice not between the Democratic and Republican parties, but between the interest groups that undergird them, whether big labor or big business or some other contingent. (Were it not for the support of the AFL-CIO, for instance, Birnbaum contends, ""Gore would have collapsed under the pressure from Bill Bradley."") Birnbaum argues that because interest groups can deliver money and votes, their issues--e.g., abortion rights, the minimum wage, gun control--dominate the national debate on an annual basis. And he comes to the surprising conclusion that the most influential group in American politics is not the AFL-CIO or the NRA, but the AARP (American Association of Retired Persons), whose war chest and membership are unmatched by those of any other group. Birnbaum, the Washington bureau chief for Fortune, clearly knows the players and the inner workings of the capital's numerous money machines, and once his story kicks into gear, he provides an important look at what needs to be done to keep money from being the only factor that counts in American politics. (June)