Wall Street And Washington Share Millions Of Dollars, Lot Of People

Wall Street And Washington Share Millions Of Dollars, Lot Of People

The close relationship between Wall Street and Washington belies their 200 mile separation and theoretically differing goals.

By spending money on campaigns and lobbyists, The financial industry has managed to give itself something of a voice in the halls of Congress, regulators’ offices and even the White House. Of the top ten firms with employees donating to Romney’s campaign, eight are big banks, according to Federal Election data cited by Bloomberg. In addition, Wall Street spent more than $100 million last year on lobbying while the provisions for the Dodd-Frank financial reform law were being finalized, according to The New York Times.

But it’s not just money that Wall Street is sending to Washington. It’s people too, with major officials like President Obama’s chief of staff Jacob Lew and top regulators like Commodity Futures Trading Commission chairman Gary Gensler having spent time working at a big bank at some point in their careers.

And the revolving door moves in the other direction as well. As of last year, at least 285 members of Congress were registered lobbyists, according to data from the Center for Responsive Politics cited by the NYT.

Rest here…

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Comments
6 Responses to “Wall Street And Washington Share Millions Of Dollars, Lot Of People”
  1. Bobbi Swann says:

    Nothing is going to change either from voting Romney in or Obama out! Change is not going to occur until a revolution takes place. Period. End of story. Writing to your congressmen, senators…that’s a joke. They are the thieves and robbers who are paid by Wall Street. May as well write a letter to Mickey Mouse and the Mouseketeers!

  2. stripes says:

    Until the Àmerican people really “get” the fact that virtually every dime they are spending and paying is going overseas to foreign investors and foreign investments we will never recover. They will steal it all from us. For example,Bloomberg News did a report the other night about how the CEO of Ford is over in China talking about how Ford is planning on spreading our wealth around over in China. Ford is planning on opening 5 plants over in commieland. That is the Globalist plan to destroy America. They are ingrates and traitors, robbers and imposters posing as Americans.

  3. indio007 says:

    Looks like Mitt Romney loves the nanny state too!
    The Federal Bailout That Saved Mitt Romney
    Government documents prove the candidate’s mythology is just that

    Read more: http://www.rollingstone.com/politics/news/the-federal-bailout-that-saved-mitt-romney-20120829#ixzz255XbxP3J

  4. Sue Em says:

    In other countries this kind of lobbying is forbidden and called “corruption”

  5. stripes says:

    More stuff they are hiding from the American people..?
    http://electronzio.com?q=node/559

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