TV News LIES

Tuesday, Sep 16th

Last update04:57:11 AM GMT

You are here News Congress Top Senate Democrat: bankers "own" the U.S. Congress

Top Senate Democrat: bankers "own" the U.S. Congress

E-mail Print PDF

Sen. Dick Durbin, on a local Chicago radio station this week, blurted out an obvious truth about Congress that, despite being blindingly obvious, is rarely spoken:  "And 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."  The blunt acknowledgment that the same banks that caused the financial crisis "own" the U.S. Congress -- according to one of that institution's most powerful members -- demonstrates just how extreme this institutional corruption is.


The ownership of the federal government by banks and other large corporations is effectuated in literally countless ways, none more effective than the endless and increasingly sleazy overlap between government and corporate officials.  Here is just one random item this week announcing a couple of standard personnel moves:

    Former Barney Frank staffer now top Goldman Sachs lobbyist

    Goldman Sachs' new top lobbyist was recently the top staffer to Rep. Barney Frank, D-Mass., on the House Financial Services Committee chaired by Frank.  Michael Paese, a registered lobbyist for the Securities Industries and Financial Markets Association since he left Frank's committee in September, will join Goldman as director of government affairs, a role held last year by former Tom Daschle intimate, Mark Patterson, now the chief of staff at the Treasury Department. This is not Paese's first swing through the Wall Street-Congress revolving door: he previously worked at JP Morgan and Mercantile Bankshares, and in between served as senior minority counsel at the Financial Services Committee.

So:  Paese went from Chairman Frank's office to be the top lobbyist at Goldman, and shortly before that, Goldman dispatched Paese's predecessor, close Tom Daschle associate Mark Patterson, to be Chief of Staff to Treasury Secretary Tim Geithner, himself a protege of former Goldman CEO Robert Rubin and a virtually wholly owned subsidiary of the banking industry.  That's all part of what Desmond Lachman -- American Enterprise Institute fellow, former chief emerging market strategist at Salomon Smith Barney and top IMF official (no socialist he) -- recently described as "Goldman Sachs's seeming lock on high-level U.S. Treasury jobs."

 

More...


Most Recent Related Stories...


How members of Congress use a little-known power to shape the military and help their constituents

Congress and the militaryEach year, members of Congress exercise a little-known power to help constituents obtain a nomination to...

President Obama tells Congress: I have authority to act against the Islamic State

ObamaOn the eve of a primetime speech to the nation, to lay out his plans to...

Chemical reform bill faces uphill battle in Senate

UdallEfforts to come up with a new chemical regulation bill face an uphill battle in the...

Congress and the President must right a century-old racial wrong done to New Yorker Henry Johnson

Henry JohnsonThe stage is set for America to meet a long-overdue national obligation now that Defense Secretary...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!