300 Per Cent Return on Campaign Slush

[John Young]

Nice comment on Bill Moyer's NOW last night by John Bogle, 
"described by Fortune Magazine as one of the investment 
industrys four giants of the 20th century.":

  It's no surpise smart businesses invest in DC political 
  contributions. You can get 300% return, compared to 
  only 15-20% of the top corporate stocks.

Mr. Bogle believes this is a scandal, and while he does
not believe in governmental intervention against corporate
corruption he does favor higher ethical standards. He
thinks the giant mutal funds and governmental pension
funds -- some 75 of them control 45% of all stocks -- 
should forego pursuit of maximum return on their 
investments and demand that corporations stop corrupt 
practices. He said it is amazing that the mutual funds are 
so quiet about their losses, except for the fact that they 
have been the greatest beneficiaries of corruption,
rather 300% ROI.