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1 controversy on Thu Apr 28, 2011 12:54 am

gypsy


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TEA PARTY REBELS QUICKLY TAMED
by Hightower Lowdown on Wednesday, April 27, 2011 at 2:00am

They came they saw, they conquered. This line pretty well sums up a little-reported but important story about the new tea partiers in the U.S. House of Representatives.

No sooner had they arrived than the corporate lobbying corps came to visit, saw what these supposed rebels were made of, and quickly conquered them without a fight. The forces of big business needed only to lay out some campaign cash and quicker than you can say "Business as usual," the budding lawmakers snatched up the money and immediately began carrying the lobbyists' corporate agenda.

Check out the financial services subcommittee, which handles legislation affecting Wall Street bankers. Five tea partiers got coveted slots on this panel, and all five were suddenly showered with big donations from such financial lobbying interests as Goldman Sachs. Now, all five are sponsoring bills to undo parts of the recent reforms to reign-in Wall Street excesses. Steve Stivers of Ohio, for example, hauled in nearly $100,000 in just his first two months in office 85 percent of it from the special interests his committee oversees. He insists that the cash he took from Goldman Sachs and others has nothing to do with his subsequent support of bills that Goldman is lobbying so strongly for. Stivers claims that his sole legislative focus is on jobs for Ohio's 15th district.

Really? Among the deform-the-reform bills that Steve is carrying is one to let Wall Street giants avoid disclosing the difference in what the CEO is paid and what average employees make. Another would exempt billionaire private equity hucksters from regulation. I can see that these bills are great job extenders for the barons of Wall Street, but how do either of them create a single job in his district?

This stuff does nothing but shelter the greedheaded banksters who wrecked our economy. Is that what the tea party rebellion was all about?
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