Transcript for Super PAC Investors Revealed
The ruling opened the door for mysterious billionaires to spend enormous amounts to influence the presidential race today. Some of their identities and how much they spent were revealed. ABC's Jake Tapper has the names and the faces in your voice your vote. Foster freeze is the multi millionaire mutual fund manager standing behind Rick Santorum. Both literally that's him right there. And figuratively. Freeze gave one million dollars to the supposedly independent group which is keeping the Santorum campaign alive. With ads like this there not so different. -- one and a handful of super rich people whose donations to these third party groups called super pacs. Are giving them an outsized role in the primaries. As we learned in just released disclosure forms. Recent court decisions mean this super rich corporations and labor unions. Can make unlimited donations to super pacs to advocate for candidates. Critics say it allows them to try and by the White House. After all less than one quarter of 1% of Americans give more than 200 dollars to candidates for federal office. So consider the potential influence of Las Vegas billionaire Sheldon panel sent who with his family has given eleven million dollars to a super -- Backing Newt Gingrich under truth in the old -- a candidate like Newt Gingrich later had to drop out much earlier because of fundraising with super pacs are outspending the candidates on TV with. Overwhelmingly. Negative fans. The super pac supporting Mitt Romney run by his former aides has been the most aggressive and has spent the months. Thanks to hedge fund and private equity -- the owners of Wal-Mart in the heirs to the -- out hotel fortune. Among others Santorum was voting for billions in waste President Obama -- opposed these groups but now supports this super -- founded by among others Hollywood moguls Jeffrey Katzenberg and Steven Spielberg. Jake Tapper ABC news the White House.
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