Here’s a handy chart explaining why you should move your money, particularly if you didn’t today. The lobbying totals are for 2011, the political contributions are for the 2010 cycle, and the percentage for Republicans and Democrats are how much each party’s politicians received from the 2010 cycle contribution. The lobbying figures for 2010 were not available; however, the debate over financial reform has intensified this year, so I would imagine quite a bit has gone to lobbying. Also, 2011 is not an election year.
I included the ever-vilified Koch Industries in the chart to show how little they spend as opposed to all various banking corporations combined. Also, Koch Industries lobbies for and against the same bills as the large banks. They play for the same team. Check it out at Open Secrets.
This stems from opposition that I’ve seen to the move your money movement on Twitter, Facebook, etc. that basically states credit unions donated $4 million to Congress last year, so why bother?
Well, adding in lobbying for 2011 and contributions for 2010 together, it’s a grand total of $6,179,817. That’s significantly less than the $38,162,642 spent by the banking industry.
So who do you trust?