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It’s been
a few weeks since the country was in an
uproar over bonuses paid to AIG
executives after company had received of
a large chunk of taxpayer’s money. It
was eventually disclosed that the clause
put into the agreement with AIG that
authorized the bonuses was put there by
Senator Chris Dodd (D) CT. He initially
denied being the culprit until it was
proven. Then he owned up, meaning he had
been caught in a lie, but claimed that
he had been ordered to do so by the
White House. Naturally, the White House
denied it. While I’m sure it was a mere
coincidence, AIG gave Senator Dodd
$103,100 in campaign donations. An even
bigger coincidence is that AIG also gave
then Senator Obama $100,332. These
things happen all the time. Politicians
receive large campaign donations from
certain donors and then something good
happens to the donors as a result of
federal legislation or other action. Is
it magic, or is it something else? While
I certainly wouldn’t intentionally
besmudge the escutcheons of our
honorable elected officials, it would
seem that such things happen all too
often to be just chance.
Another
seemingly strange thing that happens to
many long-term elected officials in
Washington is that they arrive with very
little money and retire wealthy.
I think many,
if not most, get into it thinking they
can make a difference. But once in
office, they become addicted to the
power. Almost any politician that makes
it to the national level can become very
wealthy if so inclined—and they are.
In a
March 2008 Reuters News Agency article,
Kevin Drawbaugh wrote, “The personal
wealth of members of the U.S. Congress
has soared in recent years, leaving
lawmakers on average far more well-to-do
than most Americans as of 2006, said a
study on Thursday.
The median net
worth of senators was estimated at $1.7
million and House of Representatives
members at $675,000, said the Center for
Responsive Politics, a Washington
watchdog group that monitors the
influence of money on government.
The center released
a report saying that until the recent
economic slowdown, lawmakers ‘enjoyed an
extraordinary run in their personal
investments and other finances.’
The report said,
‘Members of Congress, who are now paid
about $169,000 annually, saw their net
worths soar 84 percent from 2004 to
2006, on average.
They have millions
of dollars invested in politically
influential industries that they also
regulate," such as real estate, banking,
pharmaceuticals and energy, the center
said.’"
Although
it will never happen, it would be a good
idea to require elected members of
congress and former elected officials
serving in the current administration to
dress in uniforms similar to NASCAR race
car drivers. Like racers with patches of
their sponsors sewn all over their fire
suits, the politicians would have to
display patches showing logos of their
major campaign contributors. Once those
we have entrusted to run the country are
suitably credentialed, it would become
easier to understand that the reason why
certain new laws seem to benefit certain
companies is neither magic nor
coincidence. It would be easier to
follow the money.
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