Kevin Zeese observed to WMAL.com that “President Obama, with his one billion dollar campaign, is holding fundraisers that cost $38,500 to get into.” Zeese noted that the fundraiser cost is “higher than the median individual income for Americans, which is $1,000 less.” He added that such a fundraiser “puts Obama out of touch with the people and very much in touch with the money elite.”
But businesses need to buy protection and influence so they pay.
At this point, Wall Streeters really do not like Barack Obama. It has been a long time since I have met one who still actually supports him. But the extent of the pain of Dodd-Frank depends on regulations that have yet to be written by executive branch agencies that report to the White House. The big financial firms know that their future profitability requires that President Obama influence those regulations, and he is exploiting that for all it is worth.
This, loyal readers, is “regulatory capture” in action.
Not that anybody from the “Occupy” movement or the New York Times will look at it that way.
It's the key to the fascist state: exercise power not so that the elite will love you but so like a beaten cur they both fear you and look to you for their sustenance.
It's how Republics die.
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