Arianna Huffington: Why Are Bankers Still Being Treated As Beltway Royalty?
Just this week, America's bankers and their lobbyists -- who you might have reasonably thought would be the political equivalent of lepers these days -- have kneecapped bankruptcy reform in the Senate, helped pull the plug on a deal with Chrysler, and tried feverishly to place a roadblock in the way of credit card reform in the House. According to Sen. Dick Durbin, the banks "are still the most powerful lobby on Capitol Hill. And they frankly own the place." When it comes to reforming our financial system, we are truly through the looking glass. I mean, since when did it become "to the vanquished go the spoils"? How do the same banks that have repeatedly come to Washington over the last eight months asking for billions to rescue them from their catastrophic mistakes, somehow still "own the place"?
StoryCorps in Sacramento
23 hours ago