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August 22, 2008 3:21 PM

Paying To Party ... With The Parties

Back in 1972, a Republican convention corporate contributions scandal shook things up. Executives from the International Telephone and Telegraph Corp. had allegedly met secretly with Nixon administration officials – and offered to underwrite the Republican convention. In return, the Justice Department was allegedly urged to "go easy" on ITT in a pending anti-trust lawsuit. ITT ended up with what was widely regarded as a favorable out-of-court settlement.

To eliminate the appearance of tainted funding, election law was changed. The idea was to provide public funds for the conventions and limit corporate contributions. But things haven't really worked out that way. Here's why...

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attkisson ,
follow the money ,
big business ,
conventions
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July 11, 2008 5:57 PM

Teach For America Learns A Lesson

Teach for America is an organization that helps recruit and place bright college graduates and professionals as temporary teachers in needy schools. The non-profit group wins lots of kudos for its intentions and work. It has grown from modest beginnings in 1990: $2.5 million and 500 teachers. Today, the group says it has 5,000 teachers in training – and the 2007 budget was $75 million.

Funding comes from a mix of public and private sources. According to Teach for America's financial disclosures, about a third of its money is your tax dollars – because it comes from local school districts, and state and federal government. But a recent audit by the Education Department Inspector Genera raises the question: Has this group grown too quickly without the proper accounting systems in place?

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Tags:
attkisson ,
teach for america ,
cbsfollowthemoney
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Follow The Money

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