Stories that are getting the most attention from our readers this week.
ProPublica conducted a forensic analysis of IRS nonprofit filings, state shell company registries, and interviews with campaign operatives and whistleblowers to trace $75 million in undisclosed funds. These funds flowed through anonymous donor nonprofits acting as pass-throughs to super PACs supporting candidates in primaries across five battleground states. The investigation revealed how this dark money directly influenced primary outcomes by funding ads and voter outreach without public disclosure. This highlights gaps in current campaign finance regulations post-Citizens United, where super PACs can accept unlimited anonymous contributions via 501(c)(4) groups. The findings underscore the need for enhanced transparency to inform voter decisions.
Researchers at the National Bureau of Economic Research conducted an event study and fixed-effects regression using U.S. corporate bond data from 2010 to 2025, matched with detailed hurricane damage assessments. They found that firms with higher physical climate risk exposure experience 25 basis points higher bond yields immediately after hurricane events, with this premium persisting for up to two years. The yield increase grows larger when aligned with climate projections for 2050, indicating markets price in long-term risks. This reveals how physical climate events directly elevate corporate financing costs, potentially reshaping investment in vulnerable sectors.
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