“This is an ad by the one percent, for the one percent."

That’s a response to the new ad from the Rove-founded Crossroads GPS attacking Elizabeth Warren for embracing Occupy Wall Street. It comes from David Donnelly, the director of the watchdog group Campaign Money Watch, in a statement to me.

I don’t know how much of Crossroads’ current fundraising comes from the “one percent,” but as Laura Clawson points out, this Michael Isikoff scoop on the group’s overall 2010 fundraising efforts is worth recalling:

A substantial portion of Crossroads GPS’ money came from a small circle of extremely wealthy Wall Street hedge fund and private equity moguls, according to GOP fundraising sources who spoke with NBC News on condition of anonymity.

More from Ari Berman on the ad's comically dishonest distortions, and from Digby on how this ad is an effort to tickle the conservative id.