2022
December
19
Monday

Monitor Daily Podcast

December 19, 2022
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Linda Feldmann
Washington Bureau Chief

What do you do if you’re a politician, and Sam Bankman-Fried – aka SBF, the indicted cryptocurrency tycoon – donated to your campaign? Maxwell Frost, soon to be the first Gen Z member of Congress, made a show last week of giving his tainted SBF money to charity.

“I’m donating his contribution to @ZebraCoalition, which helps serve LGBTQ+ youth,” Representative-elect Frost, Democrat of Florida, tweeted.

Such a move may feel morally satisfying, but wait: Shouldn’t that money go back to Mr. Bankman-Fried’s bankrupt company, FTX, for eventual payment to creditors? That’s what Beto O’Rourke, the Democrat who ran unsuccessfully for governor of Texas, did with his SBF money. And that actually may be the safer decision, say experts on financial regulation.

“The bankruptcy estate may come calling,” Yesha Yadav, a law professor at Vanderbilt University, told USA Today.

Dan Weiner, director of the Elections and Government Program at the Brennan Center for Justice, says that what Representative-elect Frost did was fairly common.

“When a candidate wants to disassociate from a donor, and for whatever reason, refunding the donation is impractical or undesirable, they’ll give it to a charity,” Mr. Weiner says.

But if a donation is found to have been illegal, “it will need to be refunded or disgorged to the U.S. Treasury even if the campaign didn’t do anything wrong,” Mr. Weiner writes in a follow-up email. “That doesn’t mean they can’t make a donation now, but they will have to come up with the money later.”

Another option, experts on campaign finance say, is to put money aside in escrow for possible restitution payment to victims.

Mr. Bankman-Fried was the second-biggest donor to Democrats in the 2022 cycle, at almost $37 million, according to Open Secrets. Another former FTX executive, Ryan Salame, donated $24 million this cycle, mostly to Republicans.

Federal prosecutors are now reaching out to campaigns and committees, seeking information about the donations. The journey into the thicket has only begun.


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Today’s stories

And why we wrote them

The Jan. 6 committee seems to have aimed its work at history, rather than the short-term political cycle. On Monday, it made some of its own, for the first time recommending that a former president be prosecuted on criminal charges.

Noah Robertson/The Christian Science Monitor
Oleksandr Popov holds his young son Yehor outside their apartment building in Kherson, Ukraine, Dec. 4, 2022. In November, their apartment block was shelled, blowing out their windows and forcing the Popovs to sleep in the corridor for a night.

In Kherson, freed last month from Russian occupation, jubilation has turned to determination as residents face winter without heat, light, or running water.

AP
Soldiers who were recently mobilized by Russia for the military operation in Ukraine stand at a ceremony before boarding a train at a railway station in Tyumen, Russia, Dec. 2, 2022. The thousands of fresh Russian troops now headed for the front will need the full gamut of provisions, from heavy weapons and ammunition to daily meals and medical supplies.

The invasion of Ukraine is transforming Russia’s economy, as the costs of the war mount. But while Western sanctions are hampering it, Russian industry is still delivering the materiel needed.

K.M. Chaudary/AP
A motorcyclist passes a promo for "Joyland" outside a cinema in Lahore, Pakistan, Nov. 17, 2022. Censors lifted a nationwide ban on the movie shortly before its Nov. 18 release, but it remains banned in the country's most populous province due to its portrayal of an LGBTQ relationship.

Despite being banned in parts of Pakistan, the critically acclaimed film “Joyland” is exposing stories rarely seen on the big screen – and prompting honest conversations about how women and LGBTQ people fit into the conservative society.

Essay

The arrival of winter can be greeted with trepidation. But for this essayist, the darkening days and declining temperatures come with a promise.


The Monitor's View

Reuters
South African President Cyril Ramaphosa at the leadership conference of the ruling African National Congress. His reelection on Monday as head of the party ensures continuity ahead of the country's next national elections in 2024.

Thirty years ago, the African National Congress (ANC) represented a new African era shaped by justice, shared economic prosperity, and the rule of law. Now, South Africa’s ruling party offers a different measure of leadership on the continent – chastened by its shortcomings, tenuous in power.

That marks a transformation in how ordinary Africans view government and what they expect from their leaders. Younger, better educated, and entrepreneurial, they are increasingly intolerant of graft and impatient for opportunity. There is a “reorientation of the mindset,” Abideen Olasupo, founder of YVote Naija, a Nigerian organization promoting youth participation in elections, told openDemocracy. “We have to carry our destiny in our hands.”

Few seem more aware of these changing expectations than South African President Cyril Ramaphosa, who survived weeks of unresolved corruption allegations and a threat of impeachment to win reelection today as his party’s leader. “The ANC today is its weakest and most vulnerable since the advent of democracy,” he warned the party earlier this year. “Our weaknesses are evident in the distrust, the disillusionment, the frustration that is expressed by many people towards our movement and government.”

Mr. Ramaphosa’s hold on power is no more assured than his party’s. In power since 1994, it has overseen the dramatic crumbling of Africa’s strongest industrial economy due largely to corruption. South Africans endure daily power cuts lasting as long as 11 hours. Mr. Ramaphosa has erected new government scaffolding to root out graft. So have other countries and regional blocs on the continent. But that has done little to boost the public’s confidence. A year ago, the ANC won just 46% of the vote in municipal elections.

That follows a trend across Africa. As The Economist noted last week, opposition victories are becoming normal: “25 of the 42 new African leaders to take office in the past 11 years were opposition candidates – the highest number in three decades.” Over the next two years, 30 African countries, including South Africa, will hold elections for head of state or parliament.

The African Development Bank estimates that $148 billion is lost to graft in Africa every year. More than half (56%) of Africans say corruption in their country has increased, according to the latest survey by Afrobarometer across 20 countries. Expectations of democracy have become deeply entrenched: Eighty-one percent reject one-man rule, 79% reject one-party rule, and 62% say government accountability is more important than effectiveness.

“The issue of good governance and transparency is more than just about wasted money – it is about the erosion of a social contract and the corrosion of the government’s ability to grow the economy in a way that benefits all citizens,” said Antoinette M. Sayeh, deputy managing director of the International Monetary Fund, at an anti-corruption conference in Botswana in June. “Improving governance and accountability in Africa is not only possible; but it is actually happening.”

In Africa, one-man, one-party rule is giving way to a new era of leadership made humble by the popular demand for honest, effective government.


A Christian Science Perspective

About this feature

Each weekday, the Monitor includes one clearly labeled religious article offering spiritual insight on contemporary issues, including the news. The publication – in its various forms – is produced for anyone who cares about the progress of the human endeavor around the world and seeks news reported with compassion, intelligence, and an essentially constructive lens. For many, that caring has religious roots. For many, it does not. The Monitor has always embraced both audiences. The Monitor is owned by a church – The First Church of Christ, Scientist, in Boston – whose founder was concerned with both the state of the world and the quality of available news.

Whatever our holiday plans may look like, we can experience the joy and love that come from welcoming the eternal Christ into our hearts.


A message of love

Kristopher Radder/The Brattleboro Reformer/AP
Rabbi Avremy Raskin, director of the Chabad Jewish Center in Brattleboro lights the shamas during the menorah lighting event in Brattleboro, Vermont, as part of the first night of Hanukkah on Dec. 18, 2022.
( The illustrations in today’s Monitor Daily are by Jacob Turcotte and Karen Norris. )

A look ahead

Thank you for joining us. Please come again tomorrow, when I write about the political future of former President Donald Trump.

More issues

2022
December
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