David Goldman
CNNMoney.com Staff Writer
The collapse of Lehman led to a deeper recession and a litany of government programs to try to end the pain. We rate just how bold and effective the plans have been so far.
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Filed under: 360° Radar • Bailout Turmoil • Economy |
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Is the government going to take back the 8 billion dollar stimulis fund it gave to ACORN? If not, why? Is this the way the government does business too? If you don't get caught, you're okay?
A mixed report card to be sure – what changes will the Obama administration do to "tweak" their plan to where it is all working? And yes, I see a major problem with the sizable donations of the financial industry to the major political parties. It sets up the appearance of a "conflict of interest. No one industry should be able to donate over so much to a party – the average voter is not fairly represented in this sort of arrangement.
According to the Center for Responsive Politics, the financial industry has given $50 million in campaign contributions this years–60% to the Democrats and 40% to the Republicans. They have spent over $200 million on lobbying. Does anyone else see a problem here? Both of these major parties are owned by various big money interests, which is why we need to abolish all these donations completely, by constitutional amendment if necessary.