In the American political process, the financial sector spent a record sum of nearly $3 billion on campaign contributions and lobbying during the 2019-2020 election cycle.
Wall Street has one goal: to maximize profits and uses the power of its wealth as leverage over the electoral and legislative processes. The wealthy have their own priorities, which are typically opposed to the needs of most Americans. The wealthy seek policies that make them richer, creating a cycle of political and economic inequality.
For Wall Street, spending massive sums on lobbying and campaign contributions is a highly calculated decision. Wall Street wants to derail financial regulation and keep low tax rates. It needs friendly legislators to do it, and it has something they want: money. Wall Street's priorities have become Congress' priorities.