March 14, 2017

Wall Street spent more than $2 bilion to buy recent elections

The Street - The financial sector spent more than $2 billion in the 2015-2016 election cycle, according to a new report from Americans for Financial Reform, a progressive nonprofit advocating for financial reform. The findings, first reported by Politico's Ben White, indicate Wall Street spent more than $2.7 million a day in reported expenditures on campaign contributions and lobbying. It works out to $3.7 million per member of Congress.

"The entire apparatus of government operates in an environment flooded with millions of dollars in Wall Street cash on a daily basis," said Lisa Donner, executive director of Americans for Financial Reform, in a release announcing the 62-page report that details the spending of 460 financial sector companies and trade associations.

The financial sector is the largest contributor to federal candidates and parties and the third-largest spender on lobbying.

1 comment:

Leslie Armstrong said...

This country is so much NOT for the people. We really do need to massively organize, get big money out of politics and reprioritize our spending on supporting the common good, cleaning up the environment and demanding world peace. The amount we spend n the military, reflects what our leaders think is most important....just like our personal spending on stuff reflects what we value.

We rank #1 in prisoners, while China is 2nd...but then China has 4 times as many people as we do.

We rank 54th in commitment to organic farming (my, Monsanto,et al, are powerful and GMO's are not natural and CA has declared glyphosate carcinogenic).

We rank 19th in national satisfaction (33% of Americans) out of 44 countries. China ranks first, with 87%. (source: http.// )

We are 44th in health care efficiency, out of 51 countries ranked in this category (life expectancy and health care costs per capita). (Bloomberg, 15 Did 2014)

And, of course, we have the strongest/largest military and Russia is 2nd...only we pay 7 times as much money on the military as Russia does. In fact, our military budget is as much as the next 7 countries combined (as of Apr 18, 2016).

This information can be found on