More than $1 billion was spent during the 2008 presidential campaign. A network of banks, corporations, investors and a wealthy elite funded both candidates. Those elite interests expect their chosen candidate to do their bidding. It is called “corruption” when it happens in other countries. In the US it is called “democracy.”
Barack Obama received over $1 million from Goldman Sachs alone and raised even more Wall Street money than his GOP competitor John McCain—perhaps because they perceived in Obama a greater chance at winning. Wall Street bets on both horses in presidential races, and both parties' presidents serve the banks well. It has been both Democrats and Republicans who have done Wall Street’s bidding and landed us where we find ourselves.
So far, GOP presidential candidate Mitt Romney is outpacing President Obama in raising Wall Street money.
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