Has anyone noticed how the above cartel has become so brazen in their corruption of the political system? All three interweave and undermine the democratic process that is so necessary for civility and order in society, and especially in govrnment.
Corporate America and PAC's flaunt their wealth to corrupt the system and elected officials flaunt their willingness in giving special favors to them. They even defend them when they are wrong. A good example is how Louisiana's elected officials opposed the moratorium in the Gulf of Mexico after the BP disaster that killed 11 rig workers and made all kinds of failed predictions if the moratorium stayed in place. And now elected officials in Louisiana will introduce legislation to kill the suit filed by the Southeast Louisiana Flood Protection Authority-East against 97 oil, gas and pipeline companies that have raped Louisiana's environment over the past 50 years.
The wealthy Wall Street Banks who helped bring down the economy because of their influence with elected officials that let regulations slide and to top it off they are still operating as usual. In a story published in the Times Picayune dated 4/9/14 reports that federal regulators voted to require banks to raise their minimum ratio of capital to loans to 5% from the current 3% which is just a slap on the wrist.It applies to eight banks deemed so big and interconnected that each could threaten the global financial system. In this writers judgement that describes a monopoly and should be broken up period.
The 8 banks it applies too are Goldman Sachs, Citigroup, Bank of America, J.P. Morgan Chase, Wells Fargo, Morgan Stanley, Bank of N.Y. Mellon and State Street Bank. We already know what those banks did to the American economy because the country and its people are still feeling the effects. Once again, becuse of the wealth connection to our political system a slap on the wrist is given to this monopoly. President's Harry Truman, Franklin Roosevelt and Teddy Roosevelt had the courage to break monopolies up during their time.
The cartel has been effective in fooling the people in believing that the oil industry needs $8 billion in tax breaks, that Corporate America can earn billions of dollars in net profit and still not pay any taxes, that regulations cost jobs, that the minimum wage is not necessary, that the tax loopholes that congress created for the wealthy is ok. The list goes on and on. I wrote a commentary titled, Too Big To Fail dated 4/17/10 here in PolitiDose and that commentary is still applicable today.
The cartel has undermined what good government is all about. When one hears an elected official say government should be run like a business that is the code word for eliminating the natural relationship of governments responsibility to the people. It also tells Corporate America welcome to the political world of special interest. To the cartel, government and the people are pawns to be used for their own satisfaction. They lack character, courage and understanding of what being an American is all about. And that really says it all.
This commentary written by John Lucia.
