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Republicans lose real estate

Fascinating piece in The New York Times this morning on the shifting balance of power in the state, as the smart money, literally, moves to Democrats.

Anticipating a Democratic takeover of the New York State Senate this fall, real estate executives have begun courting Senate Democratic leaders, hoping to fend off what they expect will be aggressive efforts by tenant groups to revamp rent regulations next year.

The effort represents a significant new approach for real estate interests, which for years have been closely allied with the Senate’s Republican majority. But after controlling the Senate for four decades, the Republicans now hold a bare one-seat majority and many strategists believe the Democrats are in a strong position to gain control of the chamber in November.

Looking to block or water down an array of pro-tenant measures, including the repeal of vacancy decontrol, that have won support in the Democratic-controlled Assembly, real estate industry executives have stepped up their campaign donations to the Senate Democratic leadership, a review of campaign-contribution records shows. They are also continuing to contribute to Republicans.

Upsides and downsides: on the one hand, this is a clear sign of confidence by an interest known for cool-headed evaluations in who is going to be running the Senate come January, and it's not Angry Old Man Skelos. On the other, Democrats need to stick to the agenda that's going to win them in the election.

Bouldin's picture

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Dan Jacoby's picture

The answer

This is why we need "Clean Money, Clean Elections" at all levels of government.

As a partisan Democrat, I'm very happy that money that had been filling Republican coffers is now being diverted to Democratic warchests (which have desperately needed it). But as a progressive, reform-minded political activist I'm still disgusted that wealthy special interests think they can buy votes on all sides -- and are generally right.

Bouldin's picture

Sure.

And certainly, if the Democrats are working their tails off to win, an effort nicely validated by this, it makes sense to hone in with laser-like precision on why we need to feel bad about that.

I don't get you sometimes, Dan.

Dan Jacoby's picture

Leaves of...

"Do I contradict myself? Very well, I contradict myself.
I am large; I contain multitudes!"
-- Walt Whitman

Acting classes and books are full of advice that it is impossible to act two things at once. I have always found that to be crap -- the best actors are always showing internal contradictions and struggles. It's not only more dramatic, but also truer to real life.

Perhaps if I used the old "on the one hand..." phraseology? All right:

"On the one hand, it's great that all that money is going to Democrats for a change. On the other hand, all that money makes it less likely that a Democratic majority will actually do what we who support progressive reform want them to do."

You want an example? Look at the retroactive telecom immunity that was part of the FISA bill. Democrats theoretically control both houses of Congress (they certainly control the House of Representatives), yet there it is. Of course, the $41,000 in telecom money donated to Senate Intelligence Committee chaiman Jay Rockefeller in the two-week period leading up to their vote had nothing to do with his changing his mind. Nor did the AT&T bailout of the underfunded Democratic convention have anything to do with Barack Obama's last-minute switch. Of course not!

Tenants' groups have been fighting a rear-guard action for over a decade, losing ground every time housing issues came up in Albany. Landlord money has certainly had a lot to do with that. For example, the RSA (Rent Stabilization Association -- a group of landlords) sent about $10 million to Republican coffers in Albany in 2006 alone. It would be great if a switch to a Democratic majority in the state Senate could turn the tide, but the very fact that all that landlord money is already moving to Democratic campaign committees makes me very, very nervous.

It's a standard formula that every dollar a special interest group spends in lobbying and campaign contributions yields ten dollars in profits from tax breaks, government contracts, and laws passed to benefit those interests. That's a return on investment that no Wall Street broker can legitimately promise, yet it happens in government all the time. If we want real budget reform, if we want real fairness in education funding, if we want better, less expensive health care and health care coverage, if we want ... oh, a whole host of changes, we had better begin by cutting special interest money off. If we don't, it's an ironclad guarantee that a Democratic majority will not be nearly as good for us as all but the most cynical among us believes.

SKCogswell's picture

No Contradiction

in your argument Dan. You make sense to me. The contradiction is in Bouldin's position. You can't be progressive on one hand and in the other take RealEstate and Landlord money. Either you stand for something or not. Either you stand with your brothers in the trenches of vacancy decontrol warfare or not. It's fine Bouldin is not ashamed to take the money. I assume Red Horse is paying him and they get Senate Dem money, now built on landlord money. If I didn't want to feel dirty I'd wash it in my mind as well.

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