Bailout Secrets

We've all heard the phrase, 'follow the money'. I was just made aware of some money in need of a following. Do you think that you are mad at your elected leaders now? Read this exerpt from the nonpartisan Center For Responsive Politics:

"Members of the House of Representatives who supported bailing out the financial sector with $700 billion in taxpayer money have received 51 percent more in campaign contributions from the finance, insurance and real estate sector in their congressional careers than those who opposed the emergency legislation, the nonpartisan Center for Responsive Politics calculated following the 228-205 vote on Monday that defeated the House bill."

Now, how do these leaders expect to gain any kind of credibility when, as a matter of record, leaders who've received the most money from the failing industry, have voted to bail them out to the tune of hundreds of billions of dollars (which they don't have in the first place)? You might say that no votes were actually bought here and the numbers were averages over time and on and on but here is one thing that you cannot dispute: The finance industry influenced the voting on this bailout bill with money. Is that misleading? If I walked up to some guy on the street and said only that, it would be misleading. With some added context, it is no longer misleading and yet, still true.

* I was made aware of this sickening fact by JR at Reconstituion 2.0 and immediately decided that I'd do everything in my power to spread it around. On that note, please check out the full story here and be sure to tell anybody who might care.

Comments

[solomonsydelle]

Its distressing, isn't it? I actually heard someone call into Kojo Nnamdi's NPR show today and allege that there is now public information showing that the majority of those that supported the bill are heavily invested in the stock market as well. I wish i could remember the website the caller cited, but alas.

Thanks again for you advise. I made a change. Hope you like it when you see it.

[Kellie]

In my opinion, we need almost a complete overhaul in our government. The ones at the top have been there too long, become too corrupt and it seems like someone's hand is always in someone else's pocket (if you know what I mean).

Personally, I think Republicans and Democrats need to be taken down a peg. Which is why I have chosen to support other parties (such as the Libertarian party! Go Bob Barr!)

[Matt Urdan]

I'm doing better...I called every Senator that voted no today and thanked him or her. I called every Senator that voted yes and told them they needed to rethink their strategy and follow Debbie Stabenow of Michigan's position.

[Old Philosopher]

Well...yes. I would put it this way. For the most part, private moneyed interests have been running this country for 40 plus years, and our elected representatives are the public face they hide behind. Notice that I exclude the judiciary. That will change with the next "pro-business" president.
What needs to be done is clear. But it will not be done because of a lack of moral compass among legislators.
In the workplace I do not feel like a citizen in a democracy but like a serf or slave in medieval times. People can be fired "at will"(with a few exceptions). In a tight labor market, that's hell.
Thanks for the post. You run a great site.

[Jeff]

That was -great- there, Matt! Where did you get the necessary numbers?

[Matt Urdan]

Phone numbers are easy to find. Go to my blog, go to my left sidebar: Read, Write, React. Scroll down. There's a form there to contact congress. Put in your zipcode, all your elected officials will come up. Choose one. Choose Contact. You get their phone number at their WAshington office and their state offices. Call both offices.

[Jeff]

I thought you were speaking of the nationwide list of Senators both for and against. (not sure what was going through my head at the time) Anyway, the calls were made.

[JollyRoger]

The worst part of this is, the money is being flushed down the toilet. As long as nobody addresses the causes of the financial crisis, there will be no change in the status, no matter how much money they flush down the toilet.