Posted on 05/31/2010 8:18:17 AM PDT by Lorianne
The financial-services industry has reportedly flooded the Capitol with more than 2,000 paid lobbyists; even veteran members are stunned by the intensity of the blitz.
The companies with the most at stake are particularly well-connected. The lobbying campaign for Goldman Sachs, for instance, is being headed up by a former top staffer for Rep. Barney Frank, Michael Paese, who is coordinating some 14 different lobbying firms to fight on Goldman's behalf. The bank is also represented by Capitol Hill heavyweights like former House majority leader Dick Gephardt and former Reagan chief of staff Ken Duberstein. All told, there are at least 40 ex-staffers of the Senate Banking Committee and even one former senator, Trent Lott lobbying on behalf of Wall Street.
(Excerpt) Read more at rollingstone.com ...
A perfect example of the revolving bipartisan door between the Congress and Wall Street.
It kinda makes you smile or cry in the confusion.
And then we wonder why the stock is so volitile - no one knows whats going on - but it all looks shady.
Obama’s favorite form of anti-capitalism is anti-semitism. Boggle’s the mind why bankers are dems!
Some of us know exactly what's going on.
Long story short is that Goldman Sachs is a "legal" mafia cartel that makes its billions by sucking it out of the veins the of an unwitting American populace.
Their pushing for the cap and trade legislation and Henry Paulson's historic 20 billion money-laundering ripoff via AIG are just two demonstable examples of the GS racket. A racket they've been allowed to get away with because - like most successful mobsters - they've bought and paid for all of the right people in high places.
Crimes aside, they produce nothing of value and (believe it or not) pay not one cent in federal taxes as a business entity.
I’m just a small time taxpayer.
Who will lobby for me?
Democrat crony capitalism.
Yep.
Good article to reference for later when this thing blows.
Matt Tiabi’s newest installment.
Im just a small time taxpayer.
Who will lobby for me?
Im just a small time taxpayer and consumer
Who will lobby for me?
After all, the end user of goods and services pay all taxes and fees related to that good and/or service.
Interesting perspective.... but not the comment I was hoping for.
GS, Citi, et al, all seem to operate with very sophisticated financial instruments. (I remember the day when buying and selling stocks & options was “sophisticated”.) I doubt the regulations have been written to control their operations. These big firms take advantage of government policies, polices which force monetary policy in an unnatural direction.
For instance the mortgage rates are held artificially low and the government is forcing banks to give loans to unqualified people.
I wish people weren’t so greedy - but in a capitalistic society that’s how we are rewarded in our jobs, with money.
If a company can correctly “bet” on loans that it knows will go south I have a hard time blaming them. They made money off of others misery but they didn’t cause the misery. I think we need to look at the Dodds and Franks, and others, who propagated the tragedy and were warn repeatedly.
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