Break up the Big Banks and End the Oligarchy on Wall Street
Continued from previous page
But how much is this freedom worth if the political power of the megabanks – based on campaign contributions, lobbying efforts, and more general ideological control - can effectively prevent an up-or-down vote in the US Senate on the most pressing issue of financial reform?
This is, of course, partly about the political power of corporations. But corporations are, in this sense, merely a veil – this is really all about which people have what kind of power in our society. To what extent are we really still a democracy – and how far have we already slipped down the road to oligarchy?