In a new report, Robert Weissman of Multinational Monitor points to twelve deregulatory steps that led to the financial meltdown. It also does an analysis of the amount of money Wall Street poured into Washington in campaign contributions and lobbying over the last ten years. Their answer? A staggering $5.1 billion over the past decade.
Guest:
Robert Weissman, Director of Essential Action and editor of the Multinational Monitor. He is author of the new report “Sold Out: How Wall Street and Washington Betrayed America.”
AMY GOODMAN: The Obama administration is making a concerted effort to boost confidence in the US economy amidst waves of continued layoff announcements, negative economic data, downward-spiraling markets. On Monday, the Dow Jones Industrial Average dropped below 7,000 for the first time in eleven years. The market has now lost almost a quarter of its value this year and more than half since its high in October 2007.
Speaking to reporters yesterday after meeting with the British Prime Minister Gordon Brown, President Obama said he was sure the US economy would rally back.
remainder here:
http://www.democracynow.org/2009/3/4/sold_out_new_report_follows_lobbying