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Americans for Financial Reform (AFR) released a study on Thursday that showed executives from Wall Street and various employees and trade groups spent a combined $2.9 billion in various political projects in 2020, according to a report on CNBC.
The business network pointed out that the amount equals about $4 million a day through the election cycle. It was the most spent since 2016 when $2 billion was spent.
CNBC, citing the study, reported Republicans benefited from about 47 percent of the $1.9 billion that went toward backing a candidate. Democrats pulled in 53 percent. The Hill reported that the top companies to contribute to the election cycle included Bloomberg, the National Association of Realtors, Citadel LLC, the Blackstone Group, and Charles Schwab & Co.
As AFR’s executive director Lisa Donner told CNBC:
“Year in and year out, this torrent of money gives Wall Street an outsized role in how we are governed, while driving and protecting policies that help this industry’s super-wealthy amass even greater fortunes at the expense of the rest of us.”
TRENDPOST: We note this article to illustrate how the election process in America is rigged. Plain and simple, without big money behind a candidate running for office, the chances of winning are slim to none.
Moreover, those candidates who are funded by the Money Mobs are beholden to them. Indeed, only imbeciles and morons call these bribes and payoffs “campaign contributions.”