Of the rich, for the rich, by the rich?

Money always plays and played a role in politics, but must be coming to extreme levels now in the age of the Super PACs, and it really is shocking the amount of money sloshing around, and due to slosh even more, in the US elections...
Is the US setting itself up for a government of the rich, chosen by the rich, and who one would have to suspect then of being at least in some way for the rich?

some recent articles on the subject :
in http://www.guardian.co.uk/commentisfree/cifamerica/2012/jan/29/us-politics-vote-money-wins

• "In the whole of 2008 individuals, parties and other groups spent $168.8m independently on the presidential election. This year on Republican candidates alone, where voting started less than a month ago, the Super Pacs have reported independent expenditures of almost $40m. In 2008 election spending doubled compared with 2004. This year industry analysts believe the money spent just on television ads is set to leap by almost 80% compared with four years ago. "

and yet the US public that it works on, don't even like it :

• "This is not a partisan point. Almost two-thirds of Americans believe the government should limit individual contributions – with a majority among Republicans, Democrats and independents. The influence of money at this level corrupts an entire political culture and in no small part explains the depth of cynicism, alienation and mistrust Americans now have for their politicians."
• "The trend towards oligarchy in the polity is already clear. There are 250 millionaires in Congress. Their median net worth is $891,506, nine times the typical US household. Around 11% are in the nation's top 1%, including 34 Republicans and 23 Democrats. And that's before you get to Romney, whose personal wealth is double that of the last eight presidents combined."

And another article about one billionaire pouring cash into Gingrich's campaign
http://www.guardian.co.uk/world/2012/jan/28/newt-gingrich-sheldon-adelson-billionaire)

• "By 2010 Adelson had donated around another $6m to the group as Gingrich toured the country, touting his causes and contemplating a presidential run. Eventually this group turned into the Super PAC Winning Our Future. The cheques from Adelson kept coming."

But of course all the other candidates have similar 'angels' supporting them, and this must be having real impact on the race. For example the effect of  million dollar blitz advertising would seem to be evident in Florida, where Romney has manage to obtain a double-digit turnaround in a few days, surely in part to facts like

• "Media analysts put the ratio of Romney ads to Gingrich at 4-1 but the ratio is even higher for big, expensive events. During a widely watched basketball game in Florida at the weekend, Romney's camp aired seven ads compared to none by Gingrich."

Money doesn't just talk, it shouts, and drowns out everything else...