Sunday, May 26, 2013

Banks' Lobbyists Help in Drafting Financial Bills


http://dealbook.nytimes.com/2013/05/23/banks-lobbyists-help-in-drafting-financial-bills/

were they just today raggin' on Pres. for asking AG to investigate his involvement in press investigations?
why are we paying them when they go get the cats that ate the canary to regulate themselves after fighting out front the last 4 1/2 years and still to kill and remove from the english language the word "REGULATION",
well isn't this the same game with another name?
WASHINGTON — Bank lobbyists are not leaving it to lawmakers to draft legislation that softensfinancial regulations. Instead, the lobbyists are helping to write it themselves.
One bill that sailed through the House Financial Services Committee this month — over the objections of the Treasury Department — was essentially Citigroup’s, according to e-mails reviewed by The New York Times. The bill would exempt broad swathes of trades from new regulation.
In a sign of Wall Street’s resurgent influence in Washington, Citigroup’s recommendations were reflected in more than 70 lines of the House committee’s 85-line bill. Two crucial paragraphs, prepared by Citigroup in conjunction with other Wall Street banks, were copied nearly word for word. (Lawmakers changed two words to make them plural.)
it's clearer as the days go by nothings going to change on the right wing, the business as usual has been the second goal second only to destroying this Pres. and his gov't.
his legislative push is a second front, with Wall Street’s other battle being waged against regulators who are drafting detailed rules allowing them to enforce the law.
And as its lobbying campaign steps up, the financial industry has doubled its already considerable giving to political causes. The lawmakers who this month supported the bills championed by Wall Street received twice as much in contributions from financial institutions compared with those who opposed them, according to an analysis of campaign finance records performed by MapLight, a nonprofit group.
and the beat goes on, that kinda change has to come at the insistance of us all not just Pres., remeber "YES "WE" CAN"