Legal Bribes: How Wall Street Bought Washington | Politicususa »
Posted By capj71 10 months, 1 week ago in Political NewsA new report released by Essential Information and the Consumer Education Foundation found that Wall Street invested more than $ 5 billion over the past decade into campaign contributions and lobbying Washington for the deregulation that led to the collapse of the financial system.
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capj71
Hi I am Capj71, but my friends call me Jason. I love politics. I am a liberal, and proud of it. I share and prop ...
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reallypsst10 months, 1 week ago
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This is the structure of politicians and the corrupt entanglement they are in ,that is why we can never clean up Washington their corruption is to lucrative to give up.Many politicians who careers fissile out often get well paying jobs at the same companies who contributed to them.It is one big circle of corruption and politicians operate in the open without fear because they are all connected.
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Radiofreeeuropa10 months, 1 week ago
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It's larger than that. The big picture is that once upon a time the feudal lords stole the wealth and condemned everyone else to serfdom because they owned the land. Now this wealth is detached from political entities and the lords are free to enslave those far flung from their "land". The political entities themselves are mere subsidiaries of the feudal corporatism. The fleecing will continue. Bill Mahr was right, he said choose 2 of these wall st. thugs and hang them from the top of the "big board". The behavior will improve.
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(Heck why stop at 2?)-
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rimbaud10 months, 1 week ago
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The lure of fast money wasn't limited to the top. Mortgage Brokers, in pursuit of attractive commissions, were on the phone, constantly, luring Borrowers, and then working with Lenders to exploit whatever flexibilities there were in qualification or documentation of Borrowers. Lenders offered flexible payment plans, below even just interest on the loan. The Borrowers' debt grew higher than the face amount of the loan. Lenders had a whole new market for their Mortgages in a Wall Street tired of the yo-yo gains and losses in Stocks and Investors interested in fast rising investments. The whole thing was an balloon inflating so that it had to pop.
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Beau789010 months, 1 week ago
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The kind of undue influence discussed in the article could be stemmed if the Supreme Court reversed its decision that campaign money is equivalent to free speech, and if Congress wanted to get serious about reforming campaign finance. The money necessary to win elections has gotten totally out of control and makes elected officials beholden to contributors.
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One idea is to have publicly funded elections with each candidate getting an equal amount to start. (There are a couple of problems with that approach--one being that Supreme Court decision and another the difficulty of screening out unqualified candidates so the gov't doesn't spend an inordinate amount, but I don't know why these can't be sorted out.)
And lobbying could be limited directly via acts of Congress if representatives didn't have to spend so much on elections.
It all boils down to meaningful campaign finance reform. -
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