Monday, July 30, 2007

Chucky One of the PEU Boys

Senator Chuck Schumer promised the high dollar investment boys that he'd work hard to keep their preferred tax on profits. The New York Times reported he raised $1 million from private equity underwriters (PEU's) and investment houses for the Democratic Senatorial Campaign Committee for which he is chairman. That's only scratching the surface as the securities and investment industry is Senator Schumer's number one lifetime donor at $6 million. Toss in commercial banks and the number climbs to $7 million.

Another NYT columnist quoted a professor who blamed voters for suboptimizing representative government. He stated “I see neither well-functioning democracies nor democracies hijacked by special interests.” Open your eyes man! Better yet, use your nose...