WASHINGTON (AP) — What’s the latest trend in a 2012 election defined by its gushers of sometimes-cloaked money? Going solo.
Billionaires are joining the legion of “super” political committees by running their own ads or funding shoestring groups supporting candidates this election. They include New York Mayor Michael Bloomberg, who just started his own super PAC.
The Associated Press found more than 100 super PACs this year that are funded by only a handful of donors. Some are the sole bankrollers in paying for television spots about President Barack Obama or Republican challenger Mitt Romney.
The financiers say they’re going it alone because they have more control over how their money is spent. Some don’t even have to report their expenses to federal regulators if they focus on issues instead of naming candidates.