“Money is the basis of almost all relationships in D.C.,” he writes. “And, in a nutshell, this is why our political campaign system and DC’s mushrooming Permanent Class — who alternate between government jobs and lawyering, influence-peddling and finance — mean Wall Street always wins.”
Democrats, he argues, aren’t much different than Republicans when it comes to selling out. Connaughton describes the Washington taxonomy of the lobbyists, consultants and lawyers he calls “Professional Democrats.”
“If the Marine Corps’s hierarchy of allegiance is unit, corps, country, God, then the hierarchy for a Professional Democrat is current firm, former-elected-official boss, the congressional Democratic leadership, and the president (if he or she is a Democrat),” Connaughton writes.
"It's time people understand why - and how - Wall Street always wins," Connaughton writes at the outset of his book.
He is harshly critical of his own party and the Obama administration, arguing that the president is no different than most other Washington Democrats in his willingness to kowtow to Wall Street.
President Obama and Biden, he writes, are "both financially illiterate."