Koch Brothers and Allies Pledge $100 Million to Defeat Obama

In California at a Republican retreat sponsored by Koch Industry billionaires David and Charles Koch about 200 really really rich conservative activists pledged more than $100 million dollars ot defeat President Obama.

The Huffington Post reported through a source in the room that Charles Koch pledged $40 million and David pledged $20 million.

Usually the retreat inspires liberal protestors outside but this year it was quiet.

The Desert Sun reported,

“Conference organizers and their guests successfully slipped in and out of the Coachella Valley without being detected, by buying out nearly all of the 500-plus rooms at the Renaissance Esmeralda resort in Indian Wells. The resort closed its restaurants, locked down the grounds with private security guards and sent many workers home.”

The Koch brothers are some of the Republicans most ardent supporters.  The fact that they pledged $60 million dollars themselves makes for a preview of how crazy this election cycle is going to be.

The Koch brothers, in addition to the millions they spend on elections have also given millions to discredit man made global warming theory.  They are often cited in Democratic fundraising literature as ”secretive oil billionaires attacking President Obama with ads fact checkers say are not tethered to the facts.”

Also at the conference was Ken Griffin, founder and CEO of the Citadel Investment Group. Griffin had given hundreds of thousands of dollars to President Obama in 2008 but had switched allegiance to John McCain in the General election.  This year he and his employees have given Obama nothing but have given more than $100,000 to Mitt Romney.

Casino Billionaire Sheldon Adelson was also at the conference for the first time this year.  He has already given Newt Gingrich more than $10 million dollars for his campaign.

Do you think the Koch Brothers are helping or hurting the American political system?