Pay-to-Play in America, Part 1

While politicos and pundits, conservatives and liberals froth at the mouth about Bill Clinton's apparent pay-for-pardons policy, the quiet burial of a rule designed to end the practice of paying for contracts to manage public funds has gone virtually unnoticed.

Pay-to-Play in America, Part 1

Pay-to-Play in America, Part 2: The Subtle Side of the Game

Pay-to-Play in America, Part 3: 'Money Rarely Raises Its Voice'

Pay-to-Play in America, Part 4: The SEC's Proposal for Regulating Pay-to-Play

In August 1999, the Securities and Exchange Commission proposed to ban "pay-to-play," where money managers routinely finance the campaigns of state and local treasurers, who in turn give the money managers contracts to manage billions.

Unable to weather petty -- but highly placed -- criticism, the rule expired with the Commission's decision that, in deference to President Bush, it would not seek to adopt any controversial rules until a new SEC chairman was appointed. This four-part series explores the ins and outs of pay-to-play abuse, and what you can do to put an end to it.

Evidence Worthy of a Prince

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