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Did campaign contributions and lobbying by the financial sector contribute to the meltdown on Wall Street?

Results so far:

Yes
72% 129 votes Total: 178 votes
No
28% 49 votes

or turn on the power. Like ENRON and AIG these contributions buy the firm some protection from any real investigation. Sure a few sacrificial lambs may get thrown to the public opinion wolves but most will walk off with millions if not billions and not so much as a slap on the hand. It is simply how business gets done.

Both sides of the aisle agree wholeheartedly that banks and large financial institutions can't fail. See one thing both sides can agree on is money and plenty has gone into both parties from firms that will benefit not only from a bailout but also legal protection when the curtain rises on just how corrupt these organizations truly are.

How many times in the last century has illegal manipulation of the markets resulted in a financial meltdown? Well start in 1929 when buying on margin, rampant greed, and little government oversight threw not only the United States but the rest of the world into a depression that took a decade and another world war to get us out of. Again, in the 1970s when oil prices and inflation set the stage for another market meltdown. Then the .com meltdown in the 90s. Real estate first and the market next in the end of the first decade of the new century. In each case the markets ran wild, everyone made money, government turned a blind eye, and the bubble burst. In each episode politicians vowed to actually enforce legislation in place to protect common folks from corporate greed and market manipulation. Thanks to hefty campaign contributions those responsible for the mess walk off twice as rich.

This latest meltdown is nothing new, it is how the financial world operates with the twist of bribes (sorry Campaign Contributions) that buy the guilty justice they don't deserve. So, now talking heads on the news will run footage of political figures vowing to get to those responsible and make them pay. Hey, they already paid for you to spout rhetoric but don't rock the financial boat. The crooks get golden parachutes, elected officials get another term in office, and taxpayers foot the bill for another episode of business as usual. Heck even Obama is talking billions to bail-out everything from banks to industry to homeless folks. Questions is who is paying for this? Not the guys who made billions cheating and not Congress its got friends who pay to avoid jail. Again, those who can't afford golden parachutes and can't pay enough to buy a politician the taxpayer who loses their job, home, and savings when the market poops the bed.

In


Below are the top articles rated and ranked by Helium members on:

Did campaign contributions and lobbying by the financial sector contribute to the meltdown on Wall Street?

Yes
  • 1 of 13

    by T. M. Beeker

    ENRON was proof positive of this situation. The depth of corruption and blatant manipulation of the market should have resulted

    read more

  • 2 of 13

    by Jeremy Horne

    Why should one be surprised about this assertion?

    People do not understand context.. Think of your little boxes of "campaign

    read more

No
  • 1 of 7

    by Lisa Bells

    It seems that Wall Street has become the focus of the world, for its financial crisis and then the bailout program. We witnessed

    read more

  • 2 of 7

    by Rayne Britt

    I don't believe lobbyists are the reason for this particular problem. I have seen a lot of good ideas and insights into

    read more

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