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Saturday, May 26, 2012

How Wall Street owns Congress, and why the financial sector gets away with everything.

There are certain committees, congressmembers just love getting on-- and sometimes even pay to get on-- especially the committees that play a role in regulating big-money industries, like Agriculture, the Military Industrial Complex, Health Care and, most of all, Finance.
Finance has paid out bigger bribes to Congress than any other sector-- exponnentially.

Since 1989, the Finance/Insurance/Real Estate sector has ponied up $1,710,713,286 in congressional races. This election cycle, they've given $135,085,054 to candidates, in hopes of further deregulation and hopes of further complicity. Banks donate to both Dems and Rethugs, with the higher percentage paid to Rethugs.
These are HUGE amounts of money. But to the banks, this kind of cash is an investment, one that pays enormous dividends; for instance, the repeal of Glass-Steagall, which helped make lots of millionaires multimillionaires and some multimillionaires into billionaires.

Below is a simple list. These are members of the House Financial Services Committee and how much they have taken this cycle from the Finance Secto it is their job to oversee.
Only Boehner ($2,269,358) and Cantor ($1,051,900) have taken more bribe money than Spencer Bachus this year. Kind of explains their continued opposition to supporting the American people, in favor of a few donors interests.

The names in bold are the committee members who are flagrant corporate whores, who have shown they will happily trade their votes for enough cash. Each of them belongs in prison... for a long time.

Spencer Bachus, R-AL, Chairman ($1,041,825)
Jeb Hensarling, R-TX, Vice Chairman ($708,347)

Peter King, R-NY ($166,300)
Edward Royce, R-CA ($681,685)
Frank Lucas, R-OK ($154,500)
Ron Paul, R-TX ($872,406)
Donald Manzullo, R-IL ($162,729)
Walter Jones, R-NC ($43,000)
Judy Biggert, R-IL ($374,094)
Gary Miller, R-CA ($146,970)
Shelley Moore Capito, R-WV ($240,700)
Scott Garrett, R-NJ ($630,370)
Randy Neugebauer, R-TX ($383,683)
Patrick McHenry, R-NC ($295,350)
John Campbell, R-CA ($292,750)
Michele Bachmann, R-MN ($262,213)

Thaddeus G. McCotter, R-MI ($103,250)
Kevin McCarthy, R-CA ($649,247)
Stevan Pearce, R-NM ($91,550)
Bill Posey, R-FL ($167,050)
Michael Fitzpatrick, R-PA ($208,750)
Lynn Westmoreland, R-GA ($191,635)
Blaine Luetkemeyer, R-MO ($234,385)
Bill Huizenga, R-MI ($183,790)
Sean Duffy, R-WI ($272,684)
Nan Hayworth, R-NY ($503,371)
James Renacci, R-OH ($299,484)
Robert Hurt, R-VA ($262,982)
Robert Dold, R-IL ($635,350)
David Schweikert, R-AZ ($359,000)
Michael Grimm, R-NY ($421,281)
Francisco "Quico" Canseco, R-TX ($304,226)
Steve Stivers, R-OH ($508,210)
Stephen Fincher, R-TN ($303,813)

Barney Frank, D-MA, Ranking Member ($285,250)
Maxine Waters, D-CA ($19,200)
Carolyn Maloney, D-NY ($409,323)
Luis Gutierrez, D-IL ($58,750)
Nydia Velázquez, D-NY ($116,000)
Melvin Watt, D-NC ($103,750)
Gary Ackerman, D-NY ($107,100)
Brad Sherman, D-CA ($217,400)
Gregory Meeks, D-NY ($197,000)
Michael Capuano, D-MA ($60,350)
Rubén Hinojosa, D-TX ($26,700)
William Lacy Clay, D-MO ($58,850)
Carolyn McCarthy, D-NY ($214,460)
Joe Baca, D-CA ($77,301)
Stephen Lynch, D-MA ($50,500)
Brad Miller, D-NC ($45,000)
David Scott, D-GA ($139,120)
Al Green, D-TX ($33,900)
Emanuel Cleaver, D-MO ($112,739)
Gwen Moore, D-WI ($138,805)
Keith Ellison, D-MN ($84,812)
Ed Perlmutter, D-CO ($358,556)
Joe Donnelly, D-IN ($121,561)
André Carson, D-IN ($94,927)
James Himes, D-CT ($623,449)
Gary Peters, D-MI ($280,750)
John Carney, Jr., D-DE ($224,250)

I don't think anyone would disagree that members of the Financial Services Committee who take large bribes from the banks, in exchange for favorable deregulation, and turning a blind eye to malfeasance or criminality,  are entitled to a fair trial before they're thrown in prison.

Thanks you OpenSecrets and DWT for such concise information!

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