Monday, October 27, 2014

Bankers And Brokers Have Bought Themselves A US Senate

If you didn't already know this, the fix is in. The winner of the US Senate races will be bankers and brokers. The securities and investment industry has already purchased the Republican leadership, and they will dominate public policy after the GOP takes power.

The Washington Post published an article about the top 13 most consequential races this election. Using data from Open Secrets, I found the top contributors for both sides in every race.

Below is a list of Republican Senate candidates with how high up the Securities and Investment industry ranked among their top donors:

Mitch McConnell (Kentucky) - S&I rank: 1
Scott Brown (New Hampshire) - S&I rank: 1
Thom Tillis (North Carolina) - S&I rank: 3
David Perdue (Georgia) - S&I rank: 2
Joni Ernst (Iowa) - S&I rank: 3
Pat Roberts (Kansas) - S&I rank: 3
Cory Gardner (Colorado) - S&I rank: 3
Dan Sullivan (Alaska) - S&I rank: 1
Bill Cassidy (Louisiana) - S&I rank: 4
Tom Cotton (Arkansas) - S&I rank: 1
Mike Rounds (South Dakota) - S&I rank: 4
Shelley Moore Capito (West Virginia) - S&I rank: 5
Steven Daines (Montana) - S&I rank: 1

In five of the 13 races, it is the top contributor. The top categories in the remaining eight races are:

Retired (Tillis, Perdue, Ernst, Gardner, Capito)
Leadership PACs (Roberts, Rounds)
Health Professionals (Cassidy)

As you can see there's only one actual industry in this group! I'll dig into this some more soon, but the rankings here speak for themselves. When the GOP takes power there is one group of people who will get their calls returned. Every time.

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  1. How strange you fail to mention the Democrats are also owned by bankers and brokers. Even Obama has members of his cabinet who work for Goldman Sachs.

    So why are you trying to hide the fact that the Democrats are just as corrupt as the Republicans?

    As long as people like you blame only the Republicans or only the Democrats, then you too are part of the duopoly problem.

    1. Actually the Dems are owned by law firms.

      I do not have a problem criticizing Democrats, or Obama. Have you read much of my site?

  2. Hey Paul,

    Here's my Johnny one-note comment whenever anyone complains about politics:

    From the USPIRG study, The Wealth Primary.
    1) The candidate who spends the most money in a congressional primary wins, 98% of the time. Literally.
    2) Over 3/4 of that money shows up in chunks larger than $200, from millionaires and billionaires, mostly.
    3) Ergo, any candidate with opinions that might offend millionaires gets filtered out of the process in the primary, at least 98% of the time.

    This basically explains U.S. politics.

    For example:
    Bernie Sanders (my senator!), and perhaps the most progressive person in congress, gets about 60% of his donations in amounts under $200. But he still gets 40% from the big money crowd.

    Mitch McConnell gets 4% of his donations in amounts under $200.

    The best we can hope for right now is one or two 60% progressives.


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