TV News LIES

Sunday, May 01st

Last update05:20:13 AM GMT

You are here News Congress Banks’ Lobbyists Help in Drafting Financial Bills to Soften Regulations

Banks’ Lobbyists Help in Drafting Financial Bills to Soften Regulations

E-mail Print PDF

Lobbyists draft finance billsBank 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.

TVNL Comment: Predatory capitlism is alive and well in Washington.  The 99% be damned, - they control Congress now and always will.  Wake up, America.

More...


Most Recent Related Stories...


Pentagon slams Benghazi panel for wasting money with exhaustive probe

DOD slams Benghazi panelThe U.S. Department of Defense this week sent a letter to the House panel still investigating...

Former House speaker sentenced to more than a year in prison

Denny Hastert sentenced to 15 months- Dennis Hastert, the Republican who for eight years presided over the House and was second...

House committee votes to require women to register for draft

Women and the draft Women would be required to register for the military draft under a House committee bill that...

60 Minutes: U.S. Rep. was told to raise $18,000 a day so he could get reelected.

Dialing for dollars: 60 MinutesRep. David Jolly says he was told his first job as a newly elected congressman was...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!