The Chronicles of Money, Politics, and Occupying Wall Street...and democracy

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Here's a recap of Public Campaign and Public Campaign Action Fund's (PCAF) work from October 3 through October 7, 2011.

  • But who will defend the big banks? Cantor to big money donors: "I got this." Wall Street darling Rep. Eric Cantor (R-Va.) is apparently “increasingly concerned” about the growing Occupy Wall Street protests. PCAF is increasingly concerned about Cantor's Wall Street cash and his close ties to the financial industry. And so should his constituents.
  • Roemer occupies anti-Wall Street position. Anti-corporate and special interest presidential candidate Buddy Roemer comes out in support of Occupy Wall Street movement.
  • News from the foregone conclusion department. Yesterday, the Senate Banking Committee voted on the nomination of Richard Cordray to lead the Consumer Financial Protection Bureau. Every Republican on the committee had previously signed a letter saying they would oppose ANY nominee to head the agency. And every single Republican on the committee has received huge amounts of campaign cash from Wall Street. Draw your own conclusions.
  • "John Duh" letter. Fifty-three groups, including our friends at Oil Change International, sent a letter to the supercommittee on Wednesday demanding that the elimination of government handouts to the oil, coal and gas industries be a central part of the deficit reduction plan. They continue to break their own records for profit. We continue to subsidize them with taxpayer money. Something isn't right here.
  • Occupy democracy. On Tuesday, Public Campaign Action Fund (PCAF) issued a statement on the growing Occupy Wall Street movement, which is now spreading all over the country.

From the PCAF statement: "That’s why we stand in solidarity with those participating in Occupy Wall Street. We need a democracy that works for all Americans—not just for the Wall Street CEOs who can write big checks to politicians. We need a democracy that rebuilds the American dream and works for the 99 percent of us who can’t afford to make large campaign contributions."

  • Too much chemical plant regulation? After a dangerous plant explosion, that's a hard case to make. It's easier, however, when the people who own the plant are lining your campaign pockets.

As always, be sure to keep up with all the latest news on money-in-politics. Here's a link to our daily clips.

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