Corporations can now buy their own congressman or senator “donate” any amount of money to any election, as decided recently by the US Supreme Court “Citizens United” ruling.
Why would corporations make donations to politicians? Duh, to influence outcomes . . .
A study from University of Michigan Professors Ran Duchin and Denis Sosyura found that the financial institutions who has the strongest political “ties” received the largest bail outs. Read the study here or here . . .
See also: Hey Voters, We Defy You – bwahahahahah
How much does it cost to buy ensure your operative gets elected as a congressman or senator?
Average spent by House race winners, 2008:
- Average raised by challengers, 2010: $166,000
- Average raised by incumbents, 2010: $1 million
Average spent by Senate race winners, 2008:
- Average raised by challengers, 2010: $519,000
- Average raised by incumbents, 2010: $9.4 million
. . . in other words, it costs about $1.4 M to get your operative elected to the House, or $10 M to the Senate.
Wow! For a mere $1.6 B anyone can effectively buy themselves an entire US Congress. How? Back your own operatives, “donate” $1.6 B to get most of them elected, and RULE! Of course, your operatives would have to be trained to say that your donations don’t influence them in any way–right after they pass a multi-billion dollar bailout for you. Right?
- Do the math: $1.6 B = (100 senators x $10 M) + (435 congressmen x $1.4 M)
- Put it in perspective: $1.6 B is less than 10% of the $16.2 B bonuses awarded to Goldman Sachs’ employees in 2009
- Investment: Goldman Sachs is the 3rd largest contributor to House and Senate campaigns–and to the Obama Administration
- Rise to power: Goldman Sachs successfully lobbied the Obama Administration and Congress to get 48 Goldman Sachs operatives appointed to key financial administration positions
- Payouts: In 2009 alone Goldman has taken more than $20 billion in taxpayer cash through bailouts, payments and backstops; in addition to $16.2 B paid out as 2009 bonuses, Goldman Sachs paid out $5 billion more in bonuses in the first three months of 2010 [Without Governments bailouts Goldman’s bonuses would have been zip, zero, ziltch.]
- It’s systemic: The nation’s six largest banks set aside $140 billion for executive compensation in 2009–which works out to an amount equivalent to over $1000 from every household in America, just for Wall Street’s 2009 bonuses!
Congressional incumbent reelection rate, 2008: 94%
Dollar contributions are the best predictor of US Federal election outcomes.
“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. They frankly own the place.” — U.S. Senator Dick Durbin, Democratic Party Whip, April 30, 2009 (Source)
We’re back to the late 19th century when the lackeys of robber barons literally deposited sacks of cash on the desks of friendly legislators. . . . We’re losing our democracy to a different system. It’s called plutocracy. (Source)
I do not consent to government officials and representatives who break the law, who lie about their actions, or who ignore their sworn duty.