From CBS News:
A group called Wall Street Watch is out with a report that finds that “Wall Street investment firms, commercial banks, hedge funds, real estate companies and insurance conglomerates made $1.7 billion in political contributions and spent another $3.4 billion on lobbyists” between 1998 and 2008.
The report, "Sold Out: How Wall Street and Washington Betrayed America," concludes that the contributions were “aimed at undercutting federal regulation” and ultimately “led directly to the current financial collapse.”
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My Comment: This is a must read article. Money and influence walking hand in hand.