Why all the karma bashing? Yes, absolutely, people will upvote or downvote for political reasons and be heavily influenced by the name behind the post/comment. All the time. But as far as I can tell, politics is a problem with any evaluation system whatsoever, and karma does remarkably well. In my experience, post and comment scores are strongly correlated with how useful I find them, how much they contribute to my experience of the discussion. And the list of top contributors is full of people who have written posts that I have saved forever, that in many cases irreversibly impacted my thinking. The fact that EY is sometimes deservingly downvoted is a case in point. The abuse described in the original post is unfortunate, but overall the LessWrong system does a difficult job incredibly well.
People who go back and downvote every post or comment a Less Wrong user has ever made, please, stop doing that. It's a clever way to pull information cascades in your direction but it is clearly an abuse of the content filtering system. It's also highly dishonorable. If you truly must use such tactics then downvoting a few of your enemy's top level posts is much less evil; your enemy loses the karma and takes the hint without your severely biasing the public perception of Less Wrong's discourse.
(I just lost over 200 karma in a few minutes and that'll probably continue for awhile. This happens to me every few weeks. Edit: I mean it's been happening every few weeks for a few months for a total of only three or four. Between 400 and 700 karma lost total I think? I don't mean to overstate the problem.)