It’s election day in Alabama and Senator Richard Shelby is facing a “tougher than expected” primary challenge. Luckily for Shelby — or, in return for his support of their selfish agenda — Charles and David Koch have been more than willing to chip in on his behalf.

Citizens for a Sound Government — a dark money group with Koch ties — has spent  $413,000 in the Alabama Senate primary, including over $45,000 on ads praising Shelby. And 60 Plus Association — a Koch-funded “astroturf” group that purports to represent seniors — has similarly boosted Shelby. The group last week released a statement in support support for Senator Shelby, and FEC filings show that the organization has also spent money on telephone voter contact on Shelby’s behalf.

Why are the Kochs helping Shelby ward of his primary challengers? Because they know he’ll continue their selfish crusade to repeal Dodd-Frank.

The Kochs have been actively involved in lobbying during the Dodd-Frank rulemaking process, particularly focused on position limits rules, which “reduce excessive speculation in commodity markets.” Here’s why: “A big part of [the Kochs] multi-billion-dollar business comes from…energy and commodity trading.”

The complexity of Dodd-Frank has necessitated significant agency-level rulemaking to draft and implement regulations. The Kochs lobbied hard to mitigate the bill’s regulatory impact during its passage, and they haven’t slowed their lobbying efforts since. Thanks to lobbying from the Kochs and other financial service industry special interests, Dodd-Frank rulemaking remains ongoing some six years after its passage.

But rulemaking lobbying isn’t the Kochs only avenue to affect change with respect to Wall Street regulation. They’d still love to see an outright repeal of Dodd-Frank; or, at the very least, legislative changes to weaken the law and leave consumers at the mercy of the big banks.

That’s where Koch agenda-pushers like Senator Shelby come in. Shelby has used his platform as chair of the Senate Banking Committee to forcefully criticize the legislation and, in his own words, “[lead] an effort to address a number of concerns identified during the implementation of Dodd-Frank,” helping determine, he’s claimed, “where it should be pared back.”

“Dodd-Frank has taken us too far in the wrong direction,” Shelby said at a hearing last October, “It is time to recognize its flaws and make the necessary changes.”

That’s why Charles and David Koch have been spending money in the Alabama primary: to make sure Richard Shelby can stick around to follow through on the promises he’s made to protect their bottom line.

Background:

Koch Spending On Sen. Richard Shelby

Citizens For A Sound Government Spent More Than $45,000 On TV Air Time Supporting Alabama Sen. Richard Shelby, And Spent $413,000 Total In The Alabama Senate Primary As Of February 2016. According to the Montgomery Advertiser, “The latest outside group to buy TV air time for ads mentioning Shelby is Citizens for a Sound Government. Reports show the group has in recent days bought more than $45,000 worth of air time in Alabama. And a report filed Thursday with the FEC shows it is spending $413,000 in the Alabama Senate primary. The ad, while not expressly advocating for a candidate, commends Shelby for opposing President Obama’s decision to increase the number of gun sellers who must perform criminal background checks on gun buyers.” [Montgomery Advertiser, 2/12/16]

• Citizens For A Sound Government President Alan Philp “Worked With Organizations Tied To The Koch Brothers.” According to the Montgomery Advertiser, “Citizens for a Sound Government, based in Colorado, is also an issue advocacy group that doesn’t have to disclose its donors. The organization says its goal is to ‘promote the ideals of free enterprise, economic opportunity and limited government through public educational efforts.’ Alan Philp, the group’s president, has worked with organizations tied to the Koch brothers. But Philp said Thursday the group has its own board and is ‘completely separate’ from the Koch brothers and their network of interest groups.” [Montgomery Advertiser, 2/12/16]

• The Citizens For A Sound Government Ad Praised Sen. Richard Shelby For Challenging The Constitutionality Of President Obama’s Gun Restrictions. According to the Montgomery Advertiser, “The [Citizens for a Sound Government] ad, while not expressly advocating for a candidate, commends Shelby for opposing President Obama’s decision to increase the number of gun sellers who must perform criminal background checks on gun buyers. ‘Sen. Richard Shelby took action challenging the constitutionality of Obama’s gun restrictions, but the fight isn’t over,’ the ad states.” [Montgomery Advertiser, 2/12/16]

60 Plus Announced A Phone Campaign In Support Of Alabama Sen. Richard Shelby.According to 60 Plus, “Legendary entertainer Pat Boone, spokesman for the national non-partisan senior citizen group the 60 Plus Association today offered his praises to  Alabama Senator Richard Shelby (R). In a statement released by 60 Plus, Boone remarked, “I’m still singing at concerts, but today I’m singing the praises of Senator Richard Shelby. ‘We need strong leaders like Senator Shelby serving Alabama in the U.S. Senate. Senator Shelby has protected seniors by fighting for lower taxes, to strengthen and protect Social Security and Medicare, and for comprehensive healthcare reform with affordable access to quality care.  Senator Shelby will always protect Alabama and Alabama’s seniors.’ […] Listen to ad: [.]” [60 Plus, 2/26/16]

• 60 Plus Spent $1,865.50 On Telephone Voter Contact To Support Alabama Sen. Richard ShelbyIn The 2016 Cycle. According to FEC filings, the 60 Plus Association spent $1,865.50 on a telephone voter contact ‘Pat Boone for Sen. Shelby’ to support Alabama Sen. Richard Shelby in the 2016 cycle. [FEC, 2/25/16]

The Kochs And Dodd-Frank

2010: Koch Backed Groups Issued A Joint Report And Project Called “Without Intent” Criticizing The Lack Of Intent Requirements In The Federal Criminal Code While Dodd-Frank Was Being Debated. According to PR Watch, “As the Dodd-Frank financial reform bill was being debated in 2010, two Koch-backed groups, the National Association for Criminal Defense Lawyers (NACDL) and the Heritage Foundation issued a comprehensive joint report and project called ‘Without Intent’ criticizing ‘overcriminalization’ and the lack of intent requirements in the federal criminal code.” [PR Watch, 12/16/15]

• Tiffany Joslin, The Co-Author For “Without Intent,” Was The Deputy Chief Counsel For The House Judiciary Crime Subcommittee, Which Was Chaired By Rep. Sensenbrenner. According to PR Watch, “The co-author of NACDL’s ‘Without Intent’ report, which has been repeatedly cited in Congress’ debate on criminal justice reform, is Tiffany Joslin, who is now Deputy Chief Counsel for the House Judiciary Crime Subcommittee, which is chaired by Rep. Sensenbrenner.” [PR Watch, 12/16/15]

The Kochs Were Concerned About Dodd-Frank Because A Big Part Of Their Business Comes From Oil Speculation. According to PR Watch, “Why would the Kochs be concerned about Dodd-Frank and financial regulation? Because a big part of their multi-billion-dollar business comes from oil speculation. The Kochs have long been deeply involved in global financial markets, especially energy and commodity trading. The Kochs are credited with creating the first oil derivatives in 1986. And they worked with U.S. Senator Phil Gramm to deregulate energy speculation with credit default swaps in 2000 with a measure that was later dubbed the ‘Enron loophole’ after it aided the catastrophic collapse of the Texas energy giant. By 2009, a Koch executive boasted that the firm was one of the top five oil speculators in the world, with offices in London, Geneva, Singapore, Houston, New York, Wichita, Rotterdam, and Mumbai.” [PR Watch, 12/16/15]

• Center For Public Integrity On Koch Lobbying On Dodd-Frank: Koch And Their Lobbyists “Worked To Favorably Shape The [Dodd-Frank] Bill, And Have Not Stopped Working Since It Was Passed.” According to PR Watch, “According to the Center for Public Integrity, the Kochs and their lobbyists ‘worked to favorably shape the [Dodd-Frank] bill, and have not stopped working since it was passed.’ Key aspects of the 2010 Dodd-Frank Wall Street reform bill attempted to bring transparency and stability to the $600 trillion ‘over-the-counter’ derivatives market by dragging trades into the light of day, requiring supervision by a clearing houses, creating position limits for key commodities and requiring capital and margin requirements. Dodd-Frank also created some new criminal penalties.” [PR Watch, 12/16/15]