How Lobbyists control our Congress

Letting the Foxes rule the Chicken Coup

Gmail - Today's Daily Reckoning - Mr. Market Will Have His Say - hfnorton@gmail.com
*** This, by Eric Hovde, appeared in the Washington Post , explaining why Congress leapt to suicide in order to bail out Wall Street:
“The Wall Street investment banking firms, their executives, their families and their political action committees contribute more to U.S. Senate and House campaigns than any other industry in America. By sprinkling some of its massive gains into the pockets of our elected officials, Wall Street bought itself protection from any tough government enforcement.
“This is no doubt the same reason why so many members of Congress were consistently blocking attempts to reform and downsize Fannie Mae and Freddie Mac, which are essentially giant, undercapitalized hedge funds. These two entities have been huge money machines for Democrats in both the House and the Senate, many of whom recently had the gall to ask why these companies hadn’t been reformed in the past. Nor should several Republican congressmen and Senators who likewise contributed to watering down legislation aimed at reforming these institutions be let off the hook.”
Until tomorrow,
Bill Bonner
The Daily Reckoning Sept. 24, 2008

comments by Norton: The foxes at various time stay in power by alternately work as lobbyists, execs for the financial industry or military industrial comples or congress or the executive branch. We let them run the chicken coup and act as our advisors on political end economic matters as if we think they have our Public interest in mind. Their interests are with staying in power and reaping the benefits there of. No wonder we have a collapse of faith and performance. Paulson, ex-goldman Sach says taxpayers must pay.......or it will get worse. Well it is worse already and even he cant fool the free market so slow down, take a pause, let the Public see everything and vote by referendum on the plan that is detailed before it is appproved. And the expert Foxes including Paulson will be liiable and personally responsible for their actions!