Wall Street, Billion | featured news

Wall Street is paying big time to influence this election. The financial industry is on track to break its 2008 campaign spending record of $170 million, according to data from the Center for Responsive Politics cited by CNNMoney. So far, Wall Street has spent $164 million donating to candidates and political groups, and CRP estimates the final tally of Wall Street cash will reach $2.5 billion.

Small banks still owe $11 billion of taxpayer money under TARP, and the government is threatening to unload its stakes in them at big discounts to new investors. Nearly four years after Washington bailed out Wall Street, small banks have yet to repay $11 billion of taxpayer money.