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How Wall Street and Washington Betrayed America

by Rich Carey on May 4, 2009

Here is an insightful analysis of what took place behind closed doors that led to the collapse of the global economy.  Article by By Lorimer Wilson – 5/4/09.

It’s time to hold our elected officials responsible and throw out those who continue to pander to the special interests of Wall Street!

Excerpt:
The ‘Money Industry’ Bought Control of America for $5.2 Billion

Harvey Rosenfield, President of the Consumer Education Foundation, contends that “Over the last decade, Wall Street (i.e. the entire financial sector consisting of commercial banks, accounting firms, insurance companies, securities firms including hedge funds and private equity firms) showered Washington with over $1.738 billion in supposed ‘campaign contributions’ and another $3.441 billion on 2,996 officially registered lobbyists (more than five for each Member of Congress) whose job it was to press for deregulation. In return for the investment of this $5.179 billion, the Money Industry was able to get rid of many of the reforms enacted after the Great Depression and to operate, for most of the last ten years, without any effective rules or restraints whatsoever.”

The Transfer of Power Took 25 Years…

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