“My fear is that this is probably the first time in my memory that it seems we have the same kind of people on both sides — in the Kremlin and in the White House. The same people. It’s probably why they like each other. It’s not a matter of policy, but it’s that they feel that they are alike. They care less for democracy and values, and more for personal success, however that is defined.”
Meanwhile, the types of organized interests who we might expect to provide a countervailing force to business — labor unions, groups representing diffuse public like consumers or taxpayers — spend $1 for every $34 businesses spend on lobbying, by my count. Of the 100 organizations that spend the most on lobbying annually, consistently 95 represent business.
The most memorable incidents in earth-changing events are sometimes the most banal. In the rapidly spreading scandal of LIBOR (the London inter-bank offered rate) it is the very everydayness with which bank traders set about manipulating the most important figure in finance.
It’s getting harder and harder to believe that the system isn’t thoroughly rigged by the bankers. Heads or tails, they win and everyone else pays for it.