What's the Latest Development?
Facebook has filed papers to form its own political action committee (P.A.C.) which would allow the company to legally donate money to the political candidates and campaigns of its choice. "Facebook chief executive and founder Mark Zuckerberg will be well aware that in the past America's most valuable technology companies have been snared in regulatory traps, and will want to avoid the fate of AT&T, IBM and Microsoft." According to the Center for Responsive Politics, Facebook has already spent $550,000 lobbying the government in the first half of 2011.
What's the Big Idea?
No other nation has as much private (corporate) money greasing the wheels of its politicians as the U.S. But as a public, we seem to have given our consent to this awful marriage of convenience. Access to government goes for top dollar, which is evident in Facebook's hirings. The company has taken on employees from the Obama, Bush and Clinton administrations and while Facebook is naturally associated with younger generations, it will look to keep government regulation at bay which typically means supporting more conservative politicians.