The Quiet Coup. (lobby, politicians, financial, government)

[oz in SC]

An interesting albeit LONG read....

The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.

The Quiet Coup - The Atlantic (May 2009)

[Oerdin]

Last year the finance industry gave $1.9 billion in direct contributions to politicians and spent $3.5 billion on lobbying. That's so large it is nearly double the second largest special interest group. That's why the politicians always give them what they want.