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QOTD: “The banks run the place”

Posted By Barry Ritholtz On October 10, 2009 @ 2:00 pm In Bailouts,Politics | Comments Disabled

Want to know why Financial Reform has been dead in the water so far ?

“The banks run the place. I will tell you what the problem is — they give three times more money than the next biggest group. It’s huge the amount of money they put into politics.”

- Representative Collin C. Peterson  (D- Minnesota), NYT [1]

And this:

“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.”

-Sen. Dick Durbin (D-Ill.), WJJG [2] 1530 AM’s “Mornings with Ray Hanania.”

We no longer live in a democracy — its a corptocracy, where the government gets sold to the highest bidder.

John McCain was sure right about this — whatever happened to that guy? The maverick MaCain who tried to rein in lobbyists and campaign contributions?

Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2009/10/qotd-the-banks-run-the-place/

URLs in this post:

[1] NYT: http://www.nytimes.com/2009/06/01/business/01lobby.html

[2] WJJG: http://progressillinois.com/2009/4/29/durbin-banks-own-the-place

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