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Any chance of election financing reform being part of the first session's accomplishments in the next congress?  

No.  

The Fates are kind.

by Gaianne on Wed Aug 20th, 2008 at 09:54:04 AM EST
[ Parent ]
THE MOST EXPENSIVE DELUSION IN A DEMOCRACY IS THAT CITIZENS SAVE MONEY BY LETTING THE SELF INTERESTED WEALTHY FINANCE ELECTIONS.  The interests of those with money almost always trump the interests of the majority of the voters.  Voters are easily distracted and have short memories.  Moneyed interests keep their eye on their interests and have long memories.

A good politician can always scare up votes, if they can get their message out.  Fear of loss of access to campaign donations paralyzes their ability to serve the interests of the public where it conflicts with the interests of large donors.  This comes into play in any situation where there is money to be made.

The FDIC approved new rules that effectively allow bond originators to extract anything of value from financial institutions before those institutions have to be taken over by the FDIC, which will then have to be bailed out by the taxpayers.  See Jerome's diary, The Next Financial Scam.  I wrote to my two Senators and my Representative and sent a similar letter to the state paper of record.  My LTE got published.  I got only one response from the elected officials and even it did not directly address the issues I raised.

I do not believe my elected representatives want to see happen what I warned against, but even acknowledging the problem could be political suicide for them.  

Our most basic failure as citizens has been to allow our elected representatives to be purchased as political sex slaves by moneyed interests.  We have done this.  It is our fault.  We should be grateful that there are representatives who are at least uncomfortable about the situation.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Aug 20th, 2008 at 11:28:34 AM EST
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