You think politicians answer to you? Think again!
Its a scary world to live in where politicians and big business people are scheming together on how to rip off average Americans:
WASHINGTON (Reuters) - Big business is shoveling more money than ever into U.S. political campaigns, with Wall Street donations way up, a watchdog group said on Tuesday.
Re: You think politicians answer to you? Think again!
The securities and investment industry -- which includes brokerages, hedge funds and private equity firms -- registered the sharpest increase in giving since 2004 among all industry sectors studied by the Center for Responsive Politics.
A sign that the financial industry will continue to get top billing and attention from the executive and legislative branches. The financial modernization act in 1996. The modified bankruptcy act. Whatever is likely to come from the housing crisis resulting in a loss of investment dollars act.
John Bogle The Battle for the Soul of Capitalism mentioned in a TV interview that some hedge fund managers were now in the billionaire class, and their business is merely speculating and trading in the change in prices. In other words, unlike an organization that makes products and employs people, they don't really add anything to the economy.
Last edited by matclone; 11-27-2007 at 05:13 PM.