Big banks are very powerful, and they destroy politicians they don’t like. Obviously, they don’t do it directly, but operate through front groups. Some of these organizations are known as “media outlets”, such as the New York Post, which outed one of Eric Schneiderman’s lawyers as a dominatrix to embarrass and intimidate his office. On a Federal level, the most prominent front group through which bank-friendly and corporate-friendly smears happen is the Politico, a powerful establishment trade publication that caters primarily to media insiders and politicians, but gets nearly all of its substantial advertising revenue from lobbyists seeking legislative favors. As an example, almost every single print issue from 2009-2010 had a full-page back page ad from Goldman Sachs.
Today’s online advertisers in Politico include AT&T, Altria (ie. Phillip Morris), Boeing, Lockheed, Time Warner, and Verizon, all of whom are putting in money through yet another front group, RATE (Reduce America’s Taxes Equitably).
I’ve been hard on Elizabeth Warren for a lot of reasons, and I still don’t think she should be running for Senate. But if you want to understand how Wall Street exercises its political power, the Massachusetts race will be a great object lesson.
And lo and behold, the six most recent headlines in Politico about Elizabeth Warren are:
Elizabeth Warren’s campaign revises pay from TARP panel
Read more: www.politico.com/news/sto.../64306.html#ixzz1YqTixyKC
Warren faces surprising headwinds
Warren’s TARP panel under scrutiny
Will Warren have much Mass. appeal?
Passed over, Warren still ‘celebrating’
Warren unable to soothe Hill critics
Let’s look at a couple of the recent articles. You’d never know if you read the piece on the 23rd, “Warren faces surprising headwinds” that Warren had gone from being 20 points behind Scott Brown in Massachusetts polls to 2 points ahead. And what is the substance of article...
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