82% of Americans: Clamp Down on Wall Street • Financial Experts: Rein In Big Banks to Save Economy • Politicians: Keep Them Lobbying Dollars Coming!

George Washington's picture

82% of the American public wants tougher regulation of Wall Street.

Most top independent financial experts say that we need to break up the big banks and otherwise rein in the financial giants in order to save the economy.

But Summers, Geithner, Bernanke and Congress like things just the way they are.

Of course they do ... they're bought and paid for:

  • Lobbyists
    from the financial industry have paid hundreds of millions to Congress
    and the Obama administration. They have bought virtually all of the key
    congress members and senators on committees overseeing finances and
    banking. The Congress people who receive the most money from lobbyists
    are the most opposed to regulation. See this, this, this, this, this, this, and this.
  • Obama received more donations from Goldman Sachs and the rest of the financial industry than almost anyone else
  • Summers and the rest of Obama's economic team have made many millions - even in the first few months of being appointed, or right beforehand - from the financial industry

The chairman of the Department of Economics at George Mason University
(Donald J. Boudreaux) says that it is inaccurate to call politicians
prostitutes. Specifically, he says that they are more correct to call
them "pimps", since they are pimping out the American people to the
financial giants:

Real whores, after
all, personally supply the services their customers seek. Prostitutes
do not steal; their customers pay them voluntarily. And their customers
pay only with money belonging to these customers.

In contrast, members of Congress routinely truck and barter with other people's property...

Members
of Congress are less like whores than they are like pimps for persons
unwillingly conscripted to perform unpleasant services.

 

***

 

Politicians
force taxpayers to pony it up -- just as the services rendered for a
pimp's customers are rendered not by that pimp personally, but by the
ladies under his charge. The pimp pockets the bulk of each payment;
he's pleased with the transaction. His customer gets serviced well in
return; he's pleased with the transaction. The only loser is
the prostitute forced to share her precious assets with strangers whom
she doesn't particularly care for and who care nothing for her.

 

Also
like the ladies under pimps' power, taxpayers who resist being
exploited risk serious consequences to their persons and pocketbooks.
Uncle Sam doesn't treat kindly taxpayers who try to avoid the
obligations that he assigns to them. Government is a great deal more
powerful, and often nastier, than is the typical taxpayer. Practically
speaking, the taxpayer has little choice but to perform as government
demands.

So to call politicians "whores" is to unduly insult
women who either choose or who are forced into the profession of
prostitution. These women aggress against no one; like all other
respectable human beings, they do their best to get by as well as they
can without violating other people's rights.

 

The real villains
in the prostitution arena are those pimps who coerce women into
satisfying the lusts of strangers. Such pimps pocket most of the gains
earned by the toil and risks involuntarily imposed upon the prostitutes
they control. No one thinks this arrangement is fair or justified. No
one gives pimps the title of "Honorable." Decent people don't care what
pimps think or suppose that pimps have any special insights into what
is good or bad for the women under their command. Decent people don't
pretend that pimps act chiefly for the benefit of their prostitutes.
Decent people believe that pimps should be in prison.

 

Yet
Americans continue to imagine that the typical representative or
senator is an upstanding citizen, a human being worthy of being feted
and listened to as if he or she possesses some unusually high moral or
intellectual stature.

 

It's closer to the truth to see
politicians as pimps who force ordinary men and women to pony up
freedoms and assets for the benefit of clients we call
"special-interest groups."