Friday, August 17, 2012

Lobbying $s Spent in Congerss

Here's an interesting infographic published by GlobalExchange which shows how the financial industry invests in congress.  There is an accompanying report containing extensive research tracking Wall Street’s investment in political power, and analyzes exactly how Wall Street has secured industry-loyal voting practices of members of Congress using whopping amounts of money. 

The FIRE Sector (Finance, Insurance, and Real Estate)

Since 2006, FIRE sector, has poured around $4.2 billion into efforts to maintain influence in the halls of Congress, according to a report by Elect Democracy, a nonpartisan effort by human rights organization Global Exchange. That comes out to $1,331 a minute.

Of that total, $879 million has gone to the campaigns of lawmakers. Like most influence peddlers in Washington, the FIRE industry takes positions on legislation that affects the way it operates. Donations can't guarantee that a lawmaker votes a certain way on a bill, of course, but the intrinsic goal of lobbying is to encourage them to support the cause, in part by padding their campaign coffers.

http://www.globalexchange.org/
ED LegislativeScorecard