Excerpts from THE PAYOFF: WHY WALL STREET ALWAYS WINS, By Jeff Connaughton
The Blob
In January 2009, Ted Kaufman was sworn in as a U.S. Senator, filling Joe Biden’s seat and saying immediately he wouldn’t run two years later in the special election. Kaufman never had to raise money to become a Senator or to stay there longer. For two years, he fought for average investors. THE PAYOFF: Why Wall Street Always Wins, written by Jeff Connaughton (Kaufman's chief of staff), tells how Kaufman and he took on Wall Street in Washington and had to fight “The Blob.”
The Blob (it’s really called that) refers to the government entities that regulate the finance industry—like the Banking Committee, Treasury Department, and SEC—and the army of Wall Street representatives and lobbyists that continuously surrounds and permeates them. The Blob moves together. Its members are in constant contact by e-mail and phone. They dine, drink, and take vacations together. Not surprisingly, they frequently intermarry.
lots more!
http://www.zerohedge.com/news/payoff-why-wall-street-always-wins-excerpt
See previous Matt Taibbi posting abot the Blob
http://www.democraticunderground.com/111622531#post10
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