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New Paper Details Mutual Backscratching Between Wall Street and Congress


#1

New Paper Details Mutual Backscratching Between Wall Street and Congress

Deirdre Fulton, staff writer

A new study identifies "a direct channel through which financial institutions contribute to the net worth of members of the U.S. Congress"—especially those ostensibly tasked with overseeing those very Wall Street entities.


#3

And Joe Biden was in Serbia earlier this week lecturing the Serbian government on the need for them to combat corruption in their government.

You tell 'em Joe!!!


#4

To paraphrase Captain Renault, I'm shocked, shocked to find that borrowing is going on here!


#5

The collusion has reached new lows..

You cannot get a small business loan for a legitimate business plan if you did sexual favors for your banker.

But a loan from an insolvent bank to a certified liar and crook is an natural act in this atmosphere of doublespeak.

Meh.


#6

wonder about the perks for the seven senators , both R and D , that sit on both senate committees


#7

We know it's corrupt. We keep voting for the same two corrupt parties.


#8

Former Congresscritters Chris Dodd and Barney Frank get even better deals from Wall Street after they let Wall Street write their Dodd/Frank legislation that has enabled five too-big-to-fail-banks that controlled 25% of US bank assets when they caused the 2008 crash, to controlling nearly 50% today, with no end in sight. Community banks have experienced a corresponding decline and continue to to so,,,,by Dood/Frank design !


#9

Always unpleasant to see Frank on TV, with his bs elder statesman airs.


#10

We should fight for a new regulation: Nobody individuals, Institutions, common business, corporations, banks, etc. etc. can donate to a political campaign more than $27. monthly. In that way, politicians will try to contact common people by internet, phone, regular mail, etc. to get donations; and they will have to listen to people complains, desires, goals, interests, ideals, etc


#11

Speaking of Wall Street and corrupt politicians.

Trump will lose big in November.
So he will go on to his next project which will be to set up a cable news network that will compete directly with FOX. (With the blessing of the FCC of course.)
Roger Ailes, who now hates Murdoch and FOX, Steve Bannon, and Trump will pool their resources and start a network intended to capture the far right wing audience that believes FOX is not conservative enough.

This is not meant to be scarasm.


#12

One is reminded of Hillary Clinton talking about "having skin in the game"- just keep in mind that that skin has been flailed from human beings throughout the US and predatory practices including slave labor the world over. This in turn having been so arrogantly and scornfully hammered home by the add junk professor of "Its the economy stupid".

Sorry, the skin collections of the Clintons render them close competitors with 18th century scalpers - and I'm not talking about tickets.


#13

The Clintonites (neoliberals) call this globalism.


#15

These public servants work hard each day to keep our great country running. They need these loans to invest in all the lucrative insider trades they are made aware of, so they can afford to come back to Congress for their future term. It's just an innocent fringe benefit. Don't be so hard on these dedicated public servants who selflessly sacrifice their lives to serve our democracy. We should all be grateful for their altruism.


#16

It gets more corrupt all the time. Welcome to the Roman Empire!


#18

Agreed, but then again the media is to blame for this as well. Most people will never read this story and others like it. I wonder if this study will spur a formal investigation?


#19

I always wonder how he doesn't dislocate his shoulder Patting Himself on the Back.


#20

Absolutely.
Outgoing Congressman Steve Israel admitted to spending 90% of his time Hustling Campaign Money, and indicated that this was considered Normal Business Practice among his peers.


#21

Appreciate the massive amount of info you regularly contribute and share.
Thanks.


#22

Imagine if Ike was in office. He fired Bobby Baker because Bobby's wife accepted a Vicuna fur coat from a South American dignitary. Ike said it looked bad. Now corruption has become a normal course of governing. The courts recently upheld corruption in the case of the former Virginia Governor. Court said accepting some gifts for favors was as a legitimate process. This is a natural outflow of Citizens United. If a piece of paper in a Delaware Office is a person, it follows corruption is a person, so say the courts!!


#23

Our dear leaders, the best that money can buy.