Posted by patriotslog
$1,331 per minute. No, that is not Mitt Romney’s average earned income; that number is much smaller. Nor is it the rate of growth of the federal deficit; that number is much bigger. In fact this number is nearly as frightening as the federal deficit when one considers the implications. So what would you do with $1,331every minute? If you said throw it away lobbying government and forking out campaign contributions, well, that would make you crazy. Unfortunately, that would also make you Wall Street.
According to Global Exchange’s Elect Democracy effort, the Financial Insurance and Real Estate (FIRE) sector has given $4.2 Billion combined in lobbying and campaign contributions in just the last 5 1/2 years. $879 million alone has gone directly into campaigns to re-elect the same cronies who allowed Wall Street to hold the economy for ransom, then negotiated with these capitalism terrorists using your money and my money to pay the ransom. Now we should unshackle Wall Street? Before FDR put in banking regulations the financial sector had a collapse an average of every six years. Guess how many years it took for this collapse after Congress deregulated the financial sector? Apparently our esteemed representatives on Capitol Hill are not intelligent enough to connect the dots. If you said six, you are smarter than your Congressman. Read the rest of this entry →