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(Huffington Post)   GOP's WinRed LosesGreen   (huffpost.com) divider line
47
    More: Fail, Republican Party (United States), Fee, Donation, Dollar, Fundraising, Privately held company, United States midterm election, Nonprofit organization  
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3948 clicks; posted to Politics » on 04 Feb 2023 at 1:19 PM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



47 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
eurotrader [TotalFark] [OhFark]
2023-02-04 11:44:44 AM  
Republicans, the party of lying, cheating and stealing, used republican grifters to setup a payment processing service and are surprised that grifters grifted.
 
enry [TotalFark]
2023-02-04 11:54:51 AM  
The goal was to get money from suckers.  In that respect it succeeded.
 
IgG4 [TotalFark]
2023-02-04 12:10:02 PM  
"lost" that's the ticket.
 
common sense is an oxymoron [TotalFark] [OhFark]
2023-02-04 12:15:29 PM  
Millions of gullible conservatives eager to be fleeced, and they still lost money thanks to TFG.

The Bandini Touch strikes again.
 
Angry Drunk Bureaucrat [TotalFark] [OhFark]
2023-02-04 12:24:56 PM  
Fark user imageView Full Size
 
Unobtanium [TotalFark] [OhFark]
2023-02-04 12:54:21 PM  
But unlike ActBlue, which was set up as a nonprofit, WinRed was organized as a for-profit, privately held company.

Because of course it was.
 
Unobtanium [TotalFark] [OhFark]
2023-02-04 12:55:09 PM  

Angry Drunk Bureaucrat: [Fark user image image 212x238]


A Win Red headline went Green...
 
Mangoose [TotalFark]
2023-02-04 1:08:42 PM  
I'd like to have a chance to see their payouts and payroll. That would be interesting.
 
Gyrfalcon [TotalFark]
2023-02-04 1:22:18 PM  
Ha ha.
 
Ragin' Asian [TotalFark]
2023-02-04 1:24:56 PM  
The most successful heists are accomplished without a single gun being drawn.
 
StubhyGraham [OhFark]
2023-02-04 1:25:39 PM  
The end of the article confirmed it, but WinRed's cut for every donation is 30% whereas ActBlue was like 5% (If I remember that correctly). Always a grift.
 
red230
2023-02-04 1:25:47 PM  

Angry Drunk Bureaucrat: [Fark user image 212x238]


Fark user imageView Full Size
 
Notabunny [TotalFark]
2023-02-04 1:25:51 PM  
FTA   "But unlike ActBlue, which was set up as a nonprofit, WinRed was organized as a for-profit, privately held company. Profits were to be split 60-40 between two other for-profit enterprises, Revv and Data Trust."

It's always a grift with those people
 
DarwiOdrade [TotalFark]
2023-02-04 1:26:45 PM  
A for-profit fundraising organization.

What could possibly go wrong?
 
bizzwire
2023-02-04 1:27:29 PM  
Fark user imageView Full Size
 
indy_kid
2023-02-04 1:32:07 PM  
FTA:  "While ActBlue reported collecting $2.2 billion over the past two years for federal elections, WinRed reported processing only $1.2 billion in contributions..."

$3.4B - farking BILLION - for federal campaigns.  $10 for every American.

Fark SCOTUS with a rusty bolt carrier group.
 
Kubo [TotalFark]
2023-02-04 1:34:22 PM  
But remember... the Republicans are the ones who are good on econolomogical issues.
 
sinner4ever
2023-02-04 1:39:58 PM  
It is all a grift.
Corporate Media spews propaganda pushing people to donate. Candidates receive billions in donations that can only be used for campaigning (the media), candidates place justices on the Supreme Court to legalize unlimited donations , Media receives more and more money and pushes more and more political propaganda every election.

This isn't shocking.
The deal with ActBlue is that someone like me can give directly to specific candidates and not the party. The more educated voter wants their money to go to the best place. Conservatives aren't smart and that is why they keep getting fleeced. Unfortunately our government stopped caring about protecting Americans a long time ago.
 
dsmith42 [TotalFark]
2023-02-04 1:40:38 PM  

Unobtanium: But unlike ActBlue, which was set up as a nonprofit, WinRed was organized as a for-profit, privately held company.

Because of course it was.


The Republicans always want to prove that capitalism is the bestest system for everything, and as per usual it bit them in the ass. Well, not the owners. As per usual they made out like bandits.
 
sinner4ever
2023-02-04 1:45:55 PM  

indy_kid: FTA:  "While ActBlue reported collecting $2.2 billion over the past two years for federal elections, WinRed reported processing only $1.2 billion in contributions..."

$3.4B - farking BILLION - for federal campaigns.  $10 for every American.

Fark SCOTUS with a rusty bolt carrier group.


Wait until you find out that the sole founder and biggest donor for the "Moderate PAC" is a Republican Mega-donor funding "moderate" candidates in Democratic primaries.
 
kkinnison [OhFark]
2023-02-04 1:53:03 PM  
The GOP see fundraising as an opportunity to grift rubes

they just cannot stop.
 
natazha [BareFark]
2023-02-04 1:55:23 PM  

common sense is an oxymoron: Millions of gullible conservatives eager to be fleeced, and they still lost money thanks to TFG.

The Bandini Touch strikes again.


That scraping sound was tfg raking in the grift. This on top of the $120 million his own grift-mill pulled in.
 
kkinnison [OhFark]
2023-02-04 1:55:40 PM  
FTFA: Revv, though, was founded by former RNC and former Trump White House staffer Lansing - meaning that more than half of all WinRed's profits would flow to Lansing and his group of investors, rather than helping Republicans broadly.

well there is your problem.  Maybe you should ask Gerrit Lansing how much he took, and if you can have it back.  Be sure to meet up in a dark back alley with a couple big guys
 
RocketRay [TotalFark]
2023-02-04 2:01:57 PM  

common sense is an oxymoron: Millions of gullible conservatives eager to be fleeced, and they still lost money thanks to TFG.

The Bandini Touch strikes again.


BANDINI MOUNTAIN

MAN DARES TO GO

WHERE ONLY COWS HAVE GONE BEFORE
 
Bigdogdaddy
2023-02-04 2:11:05 PM  
Fark user imageView Full Size
 
HighOnCraic
2023-02-04 2:17:34 PM  
One Republican familiar with the privately held entity's finances said it lost about $6 million over 2021 and 2022.

Fark user imageView Full Size


Seen running away in slow motion...
 
hammettman
2023-02-04 2:25:08 PM  
The loss came after Republicans pressured WinRed to lower its costs after complaints that the company generated millions for a handful of investors in 2020.

I take it that those who weren't in on the obvious grift from the beginning are now the ones complaining.

Yes, very sad.
Anyway
 
whither_apophis [TotalFark]
2023-02-04 2:39:07 PM  
I gotta come up with a PAC before they change the rules.
 
groppet
2023-02-04 2:42:32 PM  
Did they put Rick Scott in charge of the money there too. Money just seems to disappear around him a lot.
 
HairBolus [TotalFark]
2023-02-04 2:42:43 PM  
> While ActBlue reported collecting $2.2 billion over the past two years for federal elections, WinRed reported processing only $1.2 billion in contributions
> One Republican familiar with the privately held entity's finances said it lost about $6 million over 2021 and 2022.

Ah movie studio / record label accounting.
"Sure as vested talent or a class B investor you receive a share of the profits but there were none".
 
Raoul Eaton [TotalFark]
2023-02-04 2:43:59 PM  

IgG4: "lost" that's the ticket.


"It's gotta be around here somewhere, I just had it. Look under the sofa cushions....."
 
Manfred J. Hattan
2023-02-04 2:44:46 PM  

StubhyGraham: The end of the article confirmed it, but WinRed's cut for every donation is 30% whereas ActBlue was like 5% (If I remember that correctly). Always a grift.


That's thirty cents, not percent. They dropped that and increased their percentage to be symbolically below ActBlue. The reason they lost money is that a lot of the small donors got tapped out by Trump's direct fundraising.
 
UberNeuman
2023-02-04 2:47:50 PM  
Lose more.
 
common sense is an oxymoron [TotalFark] [OhFark]
2023-02-04 2:49:55 PM  

RocketRay: common sense is an oxymoron: Millions of gullible conservatives eager to be fleeced, and they still lost money thanks to TFG.

The Bandini Touch strikes again.

BANDINI MOUNTAIN
MAN DARES TO GO
WHERE ONLY COWS HAVE GONE BEFORE


1982 Bandini Fertilizer "Bandini Mountain" TV Commercial
Youtube afSKGTxm_ZA
 
dkulprit [TotalFark]
2023-02-04 2:50:00 PM  
Both headlines are misleading.

It didn't lose money, it did exactly as it was intended and made money, it just "lost" money in the sense that the money that was donated to go towards candidates wasn't enough to cover the costs of running it.

FTFA:

"But unlike ActBlue, which was set up as a nonprofit, WinRed was organized as a for-profit, privately held company. Profits were to be split 60-40 between two other for-profit enterprises, Revv and Data Trust."

The people who were supposed to make money made money, just like a majority of GOP operations it is just a grift.  This was never intended to actually get money to candidates, it was to line pockets of well connected people.

And it succeeded.

And like most republican grift operations the org was set up in a way that the liability for the debts or lack of profits lay with the org, not the operators.  So the for profit operators are able to extract the resources they can while the org itself is left holding the bag.

If this was a real org with real intentions they wouldn't have set it up this way, if the operators couldn't get a net positive outside of this, they would be on the hook for it failing, not the other way around where they make a profit no matter what and the org that has no real employees somehow operates at a loss.

This was just a money laundering and funneling scheme, it was since it's inception.

These are the same people who claim that meritocracy is real and everyone and every potential business has the same chance of success.

And they'll keep it going despite the "losses" because their marks still don't get it and the people who are supposed to be making a profit.

This type of operation should be illegal.  Many other companies and businesses run like this and it's a total scam.  The fact that this is being used for political donations I think makes it even worse and I think should definitely make it fraud on top of being illegal in the first place.
 
TWX
2023-02-04 2:54:01 PM  

Mangoose: I'd like to have a chance to see their payouts and payroll. That would be interesting.


Since it was set up as a for-profit, it's unlikely that you'll ever see a balance-sheet unless they are successfully prosecuted for crimes like money laundering or racketeering, and even then I have no doubt that actual income to the management is far greater than the official payroll, since shell companies selling services to shell companies selling services to WinRed would have siphoned-off most of the money.
 
andrewagill [TotalFark]
2023-02-04 2:58:36 PM  

IgG4: "lost" that's the ticket.


Yeah, embezzled seems more likely, & was definitely the point
 
Gooch [BareFark]
2023-02-04 3:07:49 PM  
Norm_MacDonald.jpeg
 
andrewagill [TotalFark]
2023-02-04 3:09:30 PM  

Gooch: Norm_MacDonald.jpeg


decider.comView Full Size


?

/I know which one you meant
 
ukexpat
2023-02-04 4:20:43 PM  

HighOnCraic: One Republican familiar with the privately held entity's finances said it lost about $6 million over 2021 and 2022.

[Fark user image image 425x239]

Seen running away in slow motion...


Lost as in not-profits or lost as in mislaid or lost as in backed shiatty candidates?
 
Dear Jerk
2023-02-04 4:53:40 PM  
If republicans don't have a money advantage, what do they have? The moral high ground? Leadership ability? Popular support? No. No. No.
 
mithras_angel
2023-02-04 4:57:50 PM  

Manfred J. Hattan: StubhyGraham: The end of the article confirmed it, but WinRed's cut for every donation is 30% whereas ActBlue was like 5% (If I remember that correctly). Always a grift.

That's thirty cents, not percent. They dropped that and increased their percentage to be symbolically below ActBlue. The reason they lost money is that a lot of the small donors got tapped out by Trump's direct fundraising.



Well, mostly they lost money because that 30 cents off the top of every donation adds up to a lot when you're talking donations that average $25 or less.

Ok, so a $25 dollar donation previously was 30 cents plus 3.8% of the donation.  That's $1.25 exactly.

After the change, a $25 dollar donation brought in 98.5 cents.

That's a massive drop, and only gets worse for sub-$25 donation.  A $5 donation went from bringing in 49 cents to less than 20 cents.  (If I did the math right, $215 looks to be about where the donation has to be, for WinRed's cut to be the same.)

And since the whole goal of this was a supposed untapped pool of micro-donors, losing vast amounts of that income on the sub-$25 donors hurt them a lot.


Good.
 
another one of them [TotalFark]
2023-02-04 7:02:26 PM  

indy_kid: FTA:  "While ActBlue reported collecting $2.2 billion over the past two years for federal elections, WinRed reported processing only $1.2 billion in contributions..."

$3.4B - farking BILLION - for federal campaigns.  $10 for every American.

Fark SCOTUS with a rusty bolt carrier group.


It's not the money that counts, it's who counts the money.

Chances are WinRed pulled in a lot more $$$ than they reported.

Keep in mind, DJT is involved.
 
DeathByGeekSquad
2023-02-04 7:03:18 PM  
I love reading political hit pieces.
 
another one of them [TotalFark]
2023-02-04 7:03:40 PM  

sinner4ever: indy_kid: FTA:  "While ActBlue reported collecting $2.2 billion over the past two years for federal elections, WinRed reported processing only $1.2 billion in contributions..."

$3.4B - farking BILLION - for federal campaigns.  $10 for every American.

Fark SCOTUS with a rusty bolt carrier group.

Wait until you find out that the sole founder and biggest donor for the "Moderate PAC" is a Republican Mega-donor funding "moderate" candidates in Democratic primaries.


Bless your heart.
 
Emposter [OhFark]
2023-02-04 10:06:28 PM  
FTFA: But unlike ActBlue, which was set up as a nonprofit, WinRed was organized as a for-profit, privately held company

What a shock, more grift.
 
indy_kid
2023-02-05 12:29:48 PM  

sinner4ever: indy_kid: FTA:  "While ActBlue reported collecting $2.2 billion over the past two years for federal elections, WinRed reported processing only $1.2 billion in contributions..."

$3.4B - farking BILLION - for federal campaigns.  $10 for every American.

Fark SCOTUS with a rusty bolt carrier group.

Wait until you find out that the sole founder and biggest donor for the "Moderate PAC" is a Republican Mega-donor funding "moderate" candidates in Democratic primaries.


Don't care.  No election should cost that much, and no one should have the ability to single-handedly steer any election to their personal choice(s).

A limit of $1000 per person, per election.  A corporation counts as a single person, so no corporation can give more than $1000.  Outlaw PACs as well.
 
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