If you're wondering where your retirement account went or where your children's college fund went or why your job is no longer there, the answer can be found in a new report "Sold Out: How Wall Street and Washington Betrayed America."
As many people suspect, an unholy alliance exists between Wall Street and Washington to rob the American people blind.
"The financial sector invested more than $5 billion in political influence purchasing in Washington over the past decade, with as many as 3,000 lobbyists winning deregulatory decisions that led to the current financial collapse," according to a 231-page report issued today by Essential Information and the Consumer Education Foundation.
The report, "Sold Out: How Wall Street and Washington Betrayed America," shows that, from 1998-2008, the financial sector made $1.7 billion in political contributions and spent another $3.4 billion on lobbyists.
What did Wall Street get for its investment? A Congress (mostly Democrats) that looked the other way while a small group of greedy individuals plundered the American economy for their own benefit.
Follow the link below to read more from the report.
And kick yourself in the rear for re-electing the same clowns to Congress that got us into this financial situation.
$5 Billion in Political Contributions Bought Wall Street Freedom From Regulation, Report Finds
1 comment:
Tony, you posted:
"What did Wall Street get for its investment? A Congress (mostly Democrats) that looked the other way while a small group of greedy individuals plundered the American economy for their own benefit."
Well, the actual report tracks 1999-2008 and the contributions were bipartisan. 55% to Republicans to 45% to Democrats. Let me ask you this, are you ready to support public financing of elections to end this legalized bribery and resultant thievery?
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