Chump Change
by digby
The banking lobbyists are swarming all over the hill throwing money around like confetti. They are evidently most intent upon stopping the new regulations around derivatives (although I always wonder when everyone knows something like that if it isn't a smokescreen.)
But the numbers involved are very telling. Jamie Dimond of Chase is quoted as telling his people that they could lose from 700 million to 2 billion dollars if this goes through. That's a lot of money. But then just yesterday I read that Goldman is paying out 5 billion in bonuses just for the first three months of the year. Meanwhile:
A main weapon being wielded to fight the battle is money. Agriculture Committee members have received $22.8 million in this election cycle from people and organizations affiliated with financial, insurance, and real estate companies, according to the Center for Responsive Politics.
When you look at all the numbers, it's amazing just how little our representatives sell themselves for. What a deal.
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