News Service 9/28/2009 www.tigersoft.com
THE BEST CONGRESS
THAT WALL STREET MONEY CAN BUY
by William Schmidt, Ph.D.
Buy and Hold Is Dangerous See All The Peerless Real-Time Signals: 1981-2009
THE BEST CONGRESS THAT MONEY CAN BUY
by William Schmidt, Ph.D.
Almost everyone knows that soliciting campaign contributions take up a high
percentage of the wakeful life of most Congressmen and Congress women. Running for
high office costs millions, as the only way to reach the public with your message is to buy
time in the media, particularly television. The public airways are not free. They could be.
But they are not. The laments of campaign contribution reformers have seldom been listened
to. The control of Congress by banks, the military industrial complex and health insurance
lobbyists is very tight and unrelenting. For years, since 1948, nearly every public opinion
poll has shown that a majority, usually upwards of 60%, favor a system of national health
care, as citizins of every other industrial country enjoy. America spends 50 times more
for health care per person than Cubans do, but Cubans live just a slong on everage.
America ranks 30 to 40 in average life expectancy despite all the money spent. CEOs
of health insurance companies can pay themselves twenty million a year and then bribe
Congressmen with millions and it is all tax-deductible and paid for by average Americans.
American will go bankrupt if the private insurance racket is not stopped and the crooks
that have caused this jailed and their theft seized and their behavior stopped cold.
So often, I come across massive evidence of campaign contributions as bribes that
for months I have not bothered to keep tabs of the stories and just report them piecemeal.
But it's time to start posting this evidence, so that we can see how rottenly undemocratic
Congress has become.
In that spirit, here is a link to an atricle entitled: "Wall Street Money Rains on Schumer".
"Wall Street has showered nearly $11 million on the Senate since the beginning of the year,
and more than 15 percent of it has gone to a single senator: Democrat Chuck Schumer of New York.
Schumers $1.65 million take from the financial services industry is nearly twice that of any other
senator's and more than five times what the industry gave to any single Republican senator. While
the industry has scaled back its political spending in the wake of last years economic collapse,
data from the Center for Responsive Politics show that its still investing heavily in the Senate,
where its likely to have its best shot at stopping or at least shaping the crackdown on
Wall Street that President Barack Obama has proposed.
" Of the $10.6 million the industry has given to sitting senators this year, more than $7.7 million
has gone to Democrats. Schumer got his $1.65 million; his New York colleague Kirsten Gillibrand
took in $886,000; of Nevada received $814,000; Senate Banking
Committee Chairman Chris Dodd of Connecticut scored $603,000; Colorado freshman Michael Bennet
got $401,000; and Agriculture Committee Chairman Blanche Lincoln of Arkansas who will have
a big say on the derivatives portion of regulatory reform got $336,000.
Wall Street Thinks Its Chances of Escaping Serious Regulation Are Very Good
Look at how well the stock market has done since Obama told Jay Leno that there were no
criminals on Wall Street that can be blamed for bringing the crash. It was all done perfectly legally,
he said. That the "dirty little secret", Obama said.
LENO: :"I just read today about Merrill Lynch. They handed out $3.6 billion -- it's
not even million anymore, it's billions in bonuses. I know it would make me feel good -- shouldn't
somebody go to jail? (Laughter and applause.) I say that because I watch those people in
New York, even people who had lost everything -- when Bernard Madoff went to jail, at
least they felt they got something."
"Right. They got some satisfaction. Here's the dirty little secret,