National: Ricketts’ Lesson In The Cost Of Politics | Buzzfield
The revelation last week that Joe Ricketts, the founder of TDAmeritrade, was considering spending $10 million on slashing personal attacks against President Barack Obama seemed the latest evidence of the flood of new money entering politics. Within hours of the New York Times’s scoop of a proposed ad, however, the lesson that emerged was a very different one: How dangerous and embarrassing it can be for corporate figures to play in partisan politics. Ricketts found himself frantically distancing himself from a proposal from adman Fred Davis while he scrambled to insulate his business interests — the brokerage he founded, a hyperlocal New York news group he owns, the Chicago Cubs — from potential fallout from livid liberal customers. It was the highest-profile of a handful of recent squalls revealing some of the natural, political limits to direct corporate influence in electoral politics. “I shall have no further comment on this or any other election year political issue,” a chastened Ricketts said in a statement Thursday.

