By most accounts, FACEBOOK CEO Mark Zuckerberg fared poorly at a recent hearing in the House Financial Services Committee. This is perhaps especially true with respect to questions about FACEBOOK’s Libra project—the technotrust’s ambitious attempt to mint “real money” for worldwide use.
Wall Street poured at least $1.9 billion into the political process, the largest-ever amount for a non-presidential year, according to a new report by Americans for Financial Reform. This sum outstrips the total of $1.4 billion, in the 2013-14 election cycle, by 36 percent.
The $1.9 billion Wall Street poured into American politics includes contributions to campaign committees and leadership PACs ($922 million) and lobbying expenditures ($957 million). The money backed a massive rush of pro-industry nominees and legislation over the last two years, at a time when the biggest banks made $100 billion in profits for the first time.