Sen. Dick Durbin: "The banks... own [Congress]"
Failed mega-banks own the Obama Administration. It’s been depressingly clear since January that former-and-future employees of Citibank, Goldman et al. are running the bank bailout for their former-and-future employers' benefit.
The banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place.
How ironic: Our mega-banks are bankrupt yet have spread so many hundreds of millions of dollars around D.C. that they literally “own the place”! Washington should never have allowed these banks to grow too big to fail. Washington should never have allowed these banks to escape even minimal regulation. Washington should have forced into restructuring — not showered with trillions in taxpayer money — every bank that took massive risks and lost. And Washington absolutely should not have incented and allowed those mega-banks to swallow up their smaller (former) competitors during this crisis… making them far-too-big-to-fail and guaranteeing higher prices for future banking services.
Washington, DC is totally broken. Our president promises hope and change… then lets Washington’s biggest lobby rob several generations of taxpayers blind.
How about a Constitutional Convention banning companies from purchasing Congressmen and presidents???
Posted by James on Thursday, April 30, 2009