The Best Government Wall Street and the Billionaires Can Buy | Miles Mogulescu.
The past few days have provided vivid evidence that the U.S. government has become a wholly-owned subsidiary of Wall Street and other wealthy special interests and no longer a government of, by, and for the people.
It’s only five weeks since the 2014 mid-term elections which cost $3.67 billion. Fewer, but larger, donors provided those funds than in past elections. The candidate who spent the most money won their race House race 94.2 percent of the time.
Yet despite the colossal sums spent on campaign ads, how many candidates ran on a platform promising to let banks make risky, taxpayer-guaranteed bets on the kind of complex financial derivatives that tanked the economy in 2008 and led to the government bailing out the big banks while millions of ordinary Americans lost their jobs and their homes? How many ran on a platform promising to gut what’s left of the McCain/Feingold campaign finance reforms and allow millionaires and billionaires to donate 10 times the current limit to political parties, up to $1,296,000 a couple in a 2-year election cycle?
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