In the years between 1989 and 1994, the big-three American automobile companies (with combined annual sales of well over two hundred billion dollars) contributed about two million dollars to congressional-election campaigns. The ten largest American gas and oil companies, with an even greater chunk of the nation’s gross domestic product, gave contributions totaling seven million dollars. The nation’s trial lawyers, meanwhile, contributed nearly thirty-one million dollars.
It doesn’t take Sherlock Holmes to figure out that vast economic self-interest must be at stake here. After all, as Charles Keating—formerly head of a major savings and loan bank and now in a federal prison—reportedly said when asked if his contributions to congressional PACs had bought him influence, “I certainly hope so.”