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Fri Apr 6, 2012, 10:19 AM

The Best Congress the Banks’ Money Can Buy - by Bill Moyers and Michael Winship

The Best Congress the Banks’ Money Can Buy
by Bill Moyers and Michael Winship
Here we go again. Another round of the game we call Congressional Creep. After months of haggling and debate, Congress finally passes reform legislation to fix a serious rupture in the body politic, and the President signs it into law. But the fight’s just begun, because the special interests immediately set out to win back what they lost when the reform became law.

They spread money like manure on the campaign trails of key members of Congress. They unleash hordes of lobbyists on Capitol Hill, cozy up to columnists and editorial writers, spend millions on lawyers who relentlessly pick at the law, trying to rewrite or water down the regulations required for enforcement. Before you know it, what once was an attempt at genuine reform creeps back toward business as usual.

It’s happening right now
with the Dodd-Frank Wall Street Reform and Consumer Protection Act -- passed two years ago in the wake of our disastrous financial meltdown. Just last week, for example, both parties in the House overwhelmingly approved two bills that already would change Dodd-Frank’s rules on derivatives -- those convoluted trading deals recently described by the chairman of the Commodity Futures Trading Commission as "the largest dark pool in our financial markets."

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http://www.commondreams.org/view/2012/04/06

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Reply The Best Congress the Banks’ Money Can Buy - by Bill Moyers and Michael Winship (Original post)
kpete Apr 2012 OP
xchrom Apr 2012 #1
Uncle Joe Apr 2012 #2

Response to kpete (Original post)

Fri Apr 6, 2012, 10:20 AM

1. Du rec. Nt

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Response to kpete (Original post)

Fri Apr 6, 2012, 11:27 AM

2. Kicked and recommended.

Thanks for the thread, kpete.

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