[Ed. – Hillary’s existence as a subsidiary of Saudi Arabia aside, this move is even worse than it seems. In a political season, there’s no telling what the FEC would deem to be “coverage of the political elections.” Reporting on things like Obama’s shady drug deal tactics with cash to Iran could be deemed coverage of the political elections, assuming the candidates were asked to comment on topics like that. As of course they would be. A rule like this would enable the FEC to shut down press independence pretty conclusively.]
In their biggest threat yet to conservative media, Democrats on the Federal Election Commission are laying the groundwork to bar companies with even the tiniest foreign ownership from American politics, a move that could ban Fox, the Wall Street Journal and even the New York Times from covering political races or giving endorsements.
In a last-minute submission Wednesday, a top Democrat on the evenly split FEC proposed that the Thursday meeting of the commission begin the process to prohibit companies with foreign ownership as small as 5 percent “from funding expenditures, independent expenditures, or electioneering communications.”
Democratic Commissioner Ellen Weintraub said in her submission, “Given everything we have learned this year, it blinks reality to suggest that that there is no risk of foreign nationals taking advantage of current loopholes to intercede invisibly in American elections. This is a risk no member of the Federal Election Commission should be willing to tolerate.”