The nation’s six largest banks and their trade associations have hired more than 240 former government officials-turned-lobbyists to represent them in the fight over Wall Street reform, according to a new report by several progressive groups. The Service Employees International Union, Campaign for America’s Future and the Public Accountability Initiative will release the report Tuesday as part of a new campaign aimed at taking on the lobbyists who represent the financial services industry. Throughout the debate, progressive groups and their allies have targeted banks, but the report marks the first time they are singling out lobbyists by name with plans to march on their offices. ‘We’re going to lobby the lobbyists a little bit and let them know the anger that’s building about the role they play in warping and undermining democracy in this country, said Stephen Lerner, SEIU’s financial reform campaign director. The idea is to make individual lobbyists and their firms as politically toxic as Goldman Sachs and other big banks have become, Lerner said. The report cites 243 government insiders turned lobbyists working for the industry. Of those, 202 used to work in Congress, and the rest served in the White House, […]
Wednesday, May 12th, 2010
Big Banks Hire D.C. Heavyweights
Author: CHRIS FRATES
Source: Politico
Publication Date: 5/11/10 12:00 AM EDT
Link: Big Banks Hire D.C. Heavyweights
Source: Politico
Publication Date: 5/11/10 12:00 AM EDT
Link: Big Banks Hire D.C. Heavyweights
Stephan: The whoring begins. Only concerted citizen action will offset this and, frankly, I doubt the American populace is up to the job of protecting its own interests.