Friday, June 26, 2009

Freedom Yes/Capitalism No! example #4 why capitalism sucks...

Lobbyists on a Roll: Gutting Reform on Banking, Energy, and Health Care
by: Arianna Huffington
posted June 25th, 2009

Remember all that change Americans voted for in November? Well, there's been a change in the plans for change.

The detour has come courtesy of a familiar nemesis: DC lobbyists who, this year alone, have watered-down, gutted, or out-and-out killed ambitious plans for reforming Wall Street, energy, and health care.

The media like to pretend that something's at stake when a big bill is being debated on the House or Senate floor, but the truth is that by then the game is typically already over. The real fight happens long before. And the lobbyists usually win.

They're used to administrations and newly elected Congresses that come in with big plans for the future. But, as Obama and Congressional reformers are finding out, the future doesn't have a well-funded lobby. The past, on the other hand, is extremely well represented.

Look at the auto industry. For decades, Detroit and its lobbyists fought tooth and nail against efforts to improve mileage efficiency standards or to close tax loopholes favorable to gas-guzzling SUVs. They were very successful at holding off the future. Until they went bankrupt.

click here for rest of report

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