Mike Lofgren: Washington Money Politics
on Sunday, September 16, 2012Mike Lofgren Money Quotation saying during an Interview with Bill Moyers that the political process is controlled entirely by campaign funding and pork barrel. Mike Lofgren said:
“Wall Street has captured Washington at its source, the capital” — Mike Lofgren
The quote “Wall Street has captured Washington at its source, the capital” by Mike Lofgren refers to the influence that the financial industry and large corporations have gained over the US government.
It suggests that Wall Street, which is the symbolic center of American finance, has come to exert disproportionate control over policymaking in Washington DC – the literal capital and seat of political power.
By “capturing” the capital, Mike Lofgren means that the economic priorities and preferences of big banks and businesses have come to dominate the policy agenda in Washington. As a result, decisions may be made more in favor of large corporate and financial interests rather than average citizens.
The quote portrays a system where moneyed interests can sway the government for their own benefit at the expense of the public interest and common good.