The Obama Healthcare Reforms: Insider Trading, Lobbyists in Charge, Payoffs to Axelrod’s Firm
On April 15, Jim Messina and Jon Selib, chief of staff to Senate Finance Committee chairman Max Baucus, convened a meeting at the headquarters of the Democratic Senatorial Campaign Committee (DSCC) with leaders of organized labor and health care groups, including PhRMA. At the meeting, the groups decided to form two nonprofit entities to promote reform efforts, Healthy Economy Now and Americans for Stable Quality Care, that would be almost entirely funded by PhRMA. The two groups spent $24 million on their advertising campaigns; the contract to produce and place ads went to White House Senior Advisor David Axelrod’s former firm, AKPD, which owed Axelrod $2 million.
In the next month, CEO’s from pharmaceutical companies would meet with Baucus and administration officials at least four times. These talks preceded a major public event at the White House, one critical to its strategy to promote health care reform. On May 11, PhRMA and other trade industry groups pledged cost cutting measures to the White House that would save, they claimed, upwards of $2 trillion over the next decade. President Obama announced the deal in the State Dining Room, flanked by leaders of the various trade groups; the administration followed up with a media blitz in the press and on the White House Web site.
Read more at the Huffington Post
First of all, in 2006 I urged David Axelrod to capitalaze his firm so that 1) he could do the Obama campaign excluaively in 2007 and 2008, and then after its success sell thew firm for a price certain, contingent on nothing, but including a ‘come back in’ provision after any number of years (though I was thinking 4 or 8). Melissa Costello was a witness to the conversation, so David has no reason to apologize. The reason lobbyists, NGOs, labor unions, whoever, go to his former firm is nothing sinister; its not required. He has no connection with the firm whatsoever, but even without him they are one of the best shops in the business. To my regret they rescued Quinn (barely) in the primary; and did a good job for Hoffman against Giannoulias.
Beating up on pharmaceutical companies is counterproductive. Many of the better and bigger ones are based in Illinois and Indiana. I have an aversion to making profits off of other people’s misery, but someone has to pay for the research and the trials before products are brought to market. As a candidate for the U.S. Senate I will not be a patsy for any corporate interests; neither will I be an attack dog against them.
All the politicians are saying the number one issue is jobs, jobs, jobs. And thats good jobs everywhere. The subject is much more complex, but intimating that Axelrod and his former firm are getting payoffs is dead wrong. They are excellent communicators. Another thing: expensive advertising campaigns are expensive because of media time and space. A small percentage goes for creative.
Phil,
What is dead wrong about Axelrod’s firm getting payoff from PhRMA? I don’t think anyone is denying that his firm got the money…I also recall the AARP hiring Axelrods firm, and miraculously taking a cowardly stand against their constituents after making the deal with his firm.
If you think it is alright for a Senior Adviser to the President to be insider trading with Health Care, just say it. But why deny the payoff…it is already public knowledge?
I wrote this column (more of a digest/compilation) about 6 months ago
http://www.cdobs.com/archive/featured/do-not-think-just-support-the-party/
Does it really take that long for Huffington to load our pages and write the same story?
JBP
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