Why Sam Bankman-Fried of Alameda/FTX isn't in jail already

 

Data here.

Your next opportunity to pick a parasite is little more than two months away

In a truly representative republic which reflected the intent of the Founders, America would have 100 senators picked by the state legislatures, not by popular vote, and at least 6,561 members of the US House (using the ratio of 1 representative per 50,000 of population intended by Article the First, not ratified; the father of our country wanted a ratio of 1:30,000 for 10,934 members of the US House in 2018). Instead we have 100 senators and 435 representatives, and 10,840 lobbyists in 2018. The corporate takeover of the Congress was a fait accompli by 1929, thanks to Republicans.

The English today are better represented than Americans with one member of parliament to about 101,000 of population, for all the good it does them. In the US the current ratio is 1:754,092. When Republicans stopped the growth of representation once and for all in 1929, the ratio stood at about 1:280,460. Using the 1929 ratio in 2018 would mean 1,170 members in the US House instead of 435.

Surely what was good enough for 1929 is good enough for 2018, no? But good luck even with that.

Representation as performance art: 49% of political campaign expenditures in 2016 went to media

12.1% went to fundraising, 11.2% to salaries, 9.4% to administrative costs, 6.7% to campaign expenses and 5.2% to strategy and research. $375 million of spending was uncategorizable.

A total of $5.9147 billion was spent.

Data here.

Average candidate cost to win a Senate race in 2016 was $10.4 million, $1.3 million to win a House race

At least according to the story here.

The figure nearly doubles when factoring in outside money for winning Senate seats. Apparently outside money doesn't matter much for House seats:

Outside groups are a relatively unimportant factor in most House races, unlike in the Senate.

Marlene Ricketts of Chicago Cubs/TD Ameritrade fame is funding #NeverTrumper Erick Erickson, spending nearly $15 million so far against Trump

Reported here with FEC documentation here:

So it perhaps shouldn’t come as a surprise to find out that Erick Erickson’s media venture “The Resurgent“, is taking Super-PAC money from the (formerly Scott Walker advocates and financial backers) Ricketts family of Wisconsin who fund OUR PRINCIPLES PAC to the tune of $3,000,000 in February alone.

OpenSecrets reports here that Our Principles Pac, organized to oppose Donald Trump, has spent $14.8 million so far in the 2016 election cycle.

Last I checked Joe and Marlene Ricketts live in Wyoming, not Wisconsin.

Top 47 organization contributors in politics, mostly unions, gave $2.4 billion and 75% of that to Democrats

The Kochs come in 48th, giving just $27 million to Republicans.

When it comes to money in politics from organizations as opposed to individuals, Democrats easily get the majority of it . . . mostly from the unions both public and private. Almost all the top 20 contributors to Democrats are unions, contributing $1.4 billion total with unions accounting for $1 billion of that. The top 20 contributors to Republicans can't even crack the $600 million level.

Open Secrets has the data, here.

Pelosi Backs Off Romney Tax Returns. Does She Fear Having To Release Her Own?

She's rich as Croesus, after all. Her financial disclosure for 2010 makes her nearly as rich as Romney.

Roll Call reports here that only 17 of 535 elected members of the US House and Senate have disclosed their tax returns:

The Minority Leader faced questions about the issue after a McClatchy News report showed only 17 of 535 Members released their tax returns when asked. ...

“Some people think the same standard should be held to the ownership of the news media in the country who are writing these stories about all of this. What do you think of that?” she asked.

How quickly they pivot to put the focus anywhere but where it belongs get the stink off.

Hey, but while we're at it, how about Diane Sawyer, who married the descendant of a famous communist? She makes an awful lot of money, asking no important questions of anyone, especially of Democrats.

According to salon.com, here:

In 2008, Forbes ranked her 65th on the list of the “World’s 100 Most Powerful Women.” She is said to command a salary of between $12 and $15 million a year.

Obama has spent about $100 million trying to put the stink on Romney, and it isn't working. Obama's rating on his handling the economy has slipped into the 30s during the same interval.

Pelosi is telling him it's time to move on.

MoveOn!

Forward! 

Instead of 10,267 US Representatives We Had 12,592 Lobbyists in 2011

If we followed the US Constitution our House of Representatives would have 10,267 elected representatives today.

Republicans and Democrats put the kibosh on that in 1929 to concentrate power in themselves, which is why today we have only 435 elected to the House. They don't much give a damn what we think about anything, and the approval rating of Congress is now so low it's almost within the margin of polling error.

Instead of the founders' idea of adequate representation we had 12,592 active lobbyists in 2011, spending over $3 billion to influence the 435 petty tyrants. Isn't it odd how closely the natural lobbying market today approximates what the authors of the constitution deemed to be a suitable level of representation?

Does anyone really think Occupy Wall Street, The Tea Party, The Heritage Foundation, The National Association of Realtors, The American Bankers' Association or any of the other myriad interest groups would exist in their current form if Congress were more representative of the individual American? Congressmen must sit in their offices and laugh at all the wasted, disorganized and therefore impotent effort spent influencing their votes.

When a representative's constituency is only 30,000 strong instead of 700,000, however, the prospects of his reelection are more sensitive to a narrower range of interests: Yours. Blow it with a few thousand of us and out he would go.

No wonder they got rid of the idea when they could.

Isn't it time to right this wrong?

Taxpayer-Insured Commercial Banks Continue To Write CDS in $Trillions

Protest that you numbskulls.

These banks' political contributions are going to your man in The White House.

Gretchen Morgenson has the story here for The New York Times.

House Democrats' Insider Trading Easily Bests Republican Track Record

According to opensecrets.org, as reported here:

Despite the GOP’s reputation as the party of the rich, House Republicans fared worse than their Democratic colleagues when it comes to investing, according to the study. The Democratic subsample of lawmakers beat the market by 73 basis points per month, or 9 percent annually, versus 18 basis points per month, or 2 percent annually, for the Republican sample.