The cheapest reporting
April 21, 2009 | LA Times, federal legislation, industry | Comments (0)When the media is writing about campaign contributions to politicians, it is illuminating nothing. Politicians take contributions. They take them from industries who are regulated. That’s they way democracy works. From today’s LA Times:
Reporting from Hartford, Conn. — Sen. Christopher J. Dodd (D-Conn.), who has won praise from consumer groups for taking on credit card providers over predatory lending practices, has collected thousands of dollars in donations from people affiliated with the so-called payday loan industry.
The lawmaker raised more than $44,000 from pawnshop owners and other businesses that provide high-interest loans, often to people with bad credit ratings, according to campaign finance reports.
And $44,000 is a pittance compared to the total Dodd will raise for his re-election.
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