Did the K-Street project cause the current Wall Street mess?

[Nitrogenica]

From Sourcewatch

http://www.sourcewatch.org/index.php?title=K_Street_Project


"The K Street Project is a project by the Republican Party to pressure Washington lobbying firms to hire Republicans in top positions, and to reward loyal GOP lobbyists with access to influential officials. It was launched in 1995, by Republican strategist Grover Norquist and House majority leader Tom DeLay.

K Street in Washington DC is where the big lobbying firms have their headquarters and is sometimes refered to as the fourth branch of government. Lobbying firms have great influence in U.S. national politics due to monetary resources and the revolving door policy of hiring former government officials. It is common practice for politicians to request money from lobbying firms for an exchange in better access to officials and to buy favoritism in policies.

Historically, K Street hires top ex-politicians from both major parties since party in power can vary between elections and among the legislative and executive branches in government.

During most of the George W. Bush administration, the Republican party had majority control of both houses of Congress, in addition to control of the White House. DeLay of the House, Rick Santorum of the Senate, and Grover Norquist took this opportunity to expand the K Street Project by pressuring major lobbying firms to hire only Republicans in any new or open positions."

[lapfog_1]

1. If you consider Phil Graham

as part of the K-Street project, then yes.