Simple answers to simple questions
Is corruption by the banking classes now such a normal state of affairs that no one bothers to take note unless the perps are called before Congress and made to squirm?
Simple answers to simple questions:
NOTE Susie looks at the same story of corruption in municipal bond sales that Yves did, and connects it to the political culture of Philadelphia:
Yeah, this is where the kickbacks – so-called “pinstripe patronage” – have always been hidden. And this was why I was so wary of Mike Nutter, the guy who became Philadelphia’s mayor — he’s a former municipal bond dealer. It’s an industry so rife with corruption, you can’t imagine.
As Lincoln Steffens wrote over 100 years ago in The Shame of the Cities:
Philadelphia is, indeed, corrupt; but it is not without significance. Every city and town in the country can learn something from the typical political experience of this great representative city. ... It is "good," too, and intelligent. I don't know just how to measure the intelligence of a community, but a Pennsylvania college professor who declared to me his belief in education for the masses as a way out of political corruption, himself justified the "rake-off" of preferred contractors on public works on the ground of a "fair business profit." ... Philadelphia is one of the oldest of our cities and treasures for us scenes and relics of some of the noblest traditions of "our fair land." Yet I was told once, "for a joke," a party of boodlers [grafters] counted out the "divvy" [division] of their graft in unison with the ancient chime of Independence
Hall. . . . Philadelphia is proud; good people there defend corruption and boast of their machine. My college professor, with his philosophic view of "rake-offs," is one Philadelphia type. Another is the man who, driven to bay with his local pride, says: "At least you must admit that our machine is the best you have ever seen." . . .
Today, we have "machine trading." And the corruption in our bankster elite makes Philly look small. As Philadelphia went, so went the nation...