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Sun May 26, 2013, 08:35 AM

Banks’ 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 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.)

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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Reply Banks’ Lobbyists Help in Drafting Financial Bills (Original post)
kentuck May 2013 OP
Berlum May 2013 #1
Berlum May 2013 #2
pipoman May 2013 #3
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SummerSnow May 2013 #4

Response to kentuck (Original post)

Sun May 26, 2013, 08:55 AM

1. Republican "Family" Values. As usual.

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Response to kentuck (Original post)

Sun May 26, 2013, 08:57 AM

2. "All your bank legislation are belong to us. Smirk.." - Da Banksters (R)

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Response to kentuck (Original post)

Sun May 26, 2013, 08:57 AM

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...

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Response to kentuck (Original post)

Sun May 26, 2013, 10:54 AM

4. .

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