War is Good For Wall Street
by Washington’s Blog
June 5, 2011
Well, There’s Your Problem Right There … Insider Trading Rules Don’t Apply To Congress
I’ve repeatedly pointed out that Wall Street executives are incentivized to lie, cheat and steal. So – of course – they will continue to lie, cheat and steal.
I’ve repeatedly noted that Wall Street owns the politicians:
Lobbyists from the financial industry have paid hundreds of millions to Congress and the Obama administration. They have bought virtually all of the key congress members and senators on committees overseeing finances and banking. The Congress people who receive the most money from lobbyists are the most opposed to regulation. See this, this, this, this, this, this, and this.
Obama received more donations from Goldman Sachs and the rest of the financial industry than almost anyone else
Summers and the rest of Obama’s economic team have made many millions – even in the first few months of being appointed, or right beforehand – from the financial industry
Two powerful congressmen said that banks run Congress
Two leading IMF officials, the former Vice President of the Dallas Federal Reserve, and the the head of the Federal Reserve Bank of Kansas City have all said that the United States is controlled by an oligarchy
The chairman of the Department of Economics at George Mason University (Donald J. Boudreaux) says that it is inaccurate to call politicians prostitutes. Specifically, he says that they are more correct to call them “pimps”, since they are pimping out the American people to the financial giants:
Real whores, after all, personally supply the services their customers seek. Prostitutes do not steal; their customers pay them voluntarily. And their customers pay only with money belonging to these customers.
In contrast, members of Congress routinely truck and barter with other people’s property…
Members of Congress are less like whores than they are like pimps for persons unwillingly conscripted to perform unpleasant services.