Last fall I criticized Wall Streeters for giving the hangman the rope he would use to hang them, but several readers defended the industry’s campaign contributions to Obama as “protection money. Well that’s an effective strategy only if your money does in fact buy protection. Now that they’ve discovered what I already knew, Wall Street has stopped giving money to any politicians, Republican (ha!) and Demmerkrat alike. This won’t work, of course, because Congress will just impose even harsher punishment until the industry caves. Do you recall that Microsoft once refused to hire lobbyists, figuring it didn’t need them? One anti-trust suit later, it now spends hundreds of milions on those bloodsuckers. Who is John Galt?
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