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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBanks’ Lobbyists Help in Drafting Financial Bills
http://dealbook.nytimes.com/2013/05/23/banks-lobbyists-help-in-drafting-financial-bills/<snip>
WASHINGTON Bank lobbyists are not leaving it to lawmakers to draft legislation that softens financial 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 Citigroups, 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 Streets resurgent influence in Washington, Citigroups recommendations were reflected in more than 70 lines of the House committees 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.)
The lobbying campaign shows how, three years after Congress passed the most comprehensive overhaul of regulation since the Depression, Wall Street is finding Washington a friendlier place.
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Banks’ Lobbyists Help in Drafting Financial Bills (Original Post)
kentuck
May 2013
OP
Berlum
(7,044 posts)1. Republican "Family" Values. As usual.
Berlum
(7,044 posts)2. "All your bank legislation are belong to us. Smirk.." - Da Banksters (R)
pipoman
(16,038 posts)3. And..
pharmaceutical company lobbyists participate in pharma legislation, and auto manufacturers lobbyists in CAFE legislation, and food company lobbyists in food legislation, and tobacco lobbyists in tobacco legislation, and...