Thursday, November 17, 2011

Throw Them All Out by Peter Schweizer

60 Minutes this week highlighted one of the biggest scandals in American politics. The full story of the inside game in Washington shows how the permanent political class enriches itself at the expense of the rest of us. Peter Schweizer's book Throw Them All Outhas doggedly researched through mountains of financial records, tracking complicated deals and stock trades back to the timing of briefings, votes on bills, and every other point of leverage for politicians in Washington. The result is a manifesto for revolution: the Permanent Political Class must go. Insider trading is illegal on Wall Street, yet it is routine among members of Congress. Normal individuals cannot get in on IPOs at the asking price, but politicians do so routinely. The Obama administration has been able to funnel hundreds of millions of dollars to its supporters, ensuring yet more campaign donations. An entire class of investors now makes all of its profits based on influence and access in Washington.

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