Deja Vu on the Hill: Wall Street Lobbyists Roll Back Finance Reform, Again

[laserhaas]

Source: Rolling Stone Magazine Reporter Matt Taibbi

It's becoming an annual tradition: Spring rolls around, and while nobody is looking, Wall Street quietly lays siege to Washington and reaches a hand out to yank the last remaining teeth out of the government's financial regulatory head.

In the last two weeks, we've seen two major developments here. There was a wave of deregulatory bills that snuck through the House with surprisingly bipartisan support, and a series of regulatory decisions by the Commodity Futures Trading Commission that will seriously weaken the already-weak Dodd-Frank reform legislation, particularly with regard to derivatives trades.

But this is the key to understanding how financial lobbyists succeed in getting what it wants on the regulatory front: They never stop. It's not a war of ideas, it's a war of resources. You march up the Hill with some crazy idea about overturning a bill prohibiting bailouts of companies that engage in risky derivative trades, you get knocked down, and you march up again, then you march up again, and again

Read more: http://www.rollingstone.com/politics/blogs/taibblog/deja-vu-on-the-hill-wall-street-lobbyists-roll-back-finance-reform-again-20130521?utm_source=dailynewsletter&utm_medium=email&utm_campaign=newsletter

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[center]I truly adore Matt Taibbi and his work [/center]

(Though I must also disclose that I do have a person bone to pick with him of my being part of his sourcing of his September 2012 story "Greed and Debt&quot .

Taibbi might have been able to get Romney indicted when Mitt was running for POTUS; but the powers that be cancelled his & my conference call. So he missed my KEY facts (like Michael Glazer as CEO of Kay Bee - was also at Stage Stores).




Be that as it may - Taibbi is one of the heroes of the common man. The voice tossing slings & arrows of truth against the powers that be. Matt Taibbi keeps a large audience focused upon the obvious and remains one of our few voices of verity.

They (the nefarious hordes upon Wall Street like Bain Capital and Goldman Sachs) - fleece U.S. without remorse or relent. And then they utilize those unjust enrichments to assure they get more chances to perpetrate White Collar Grand Larceny. Like Taibbi said in his other recent article

[center][div style="display:inline; background-color:#FFFF66;"]EVERYTHING is RIGGED

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[naaman fletcher]

1. Taibbi is the best reporter today! nt.

[laserhaas]

2. He's a good one. Those who compete - just don't have the same audience.

Be that as it may;

I'd hate to be without him.

[laserhaas]

3. flickr changed its format now and my pics aren't appearing

does anyone see them? (2) - 1 of Bernie Sanders, the other one about WS Jailed

[laserhaas]

4. Got them up there now - the format change makes me jump through hoops

about five of them.

Dang!

[xtraxritical]

5. Yes, the graphics loaded quickly for me, this time...

but often I have to "reload/refresh" to make them work. Sometimes trying to "post" will make them work too. I've had some problems too.

[laserhaas]

8. flickr now copies the gif - instead of jpg - So I had

to open the photo in separate page and view source - then copy link

Damn Yahoo is messing up everything...

[Turbineguy]

6. Yeah, it's just not fair

to regulate or constrain parasites.

[laserhaas]

9. Our laws are to keep the citizenry in line and out of the way of the Bankers

It sucks!

[marmar]

7. Why do we even bother electing people......

....... when corporations are going to get what they want anyway?

Just name Jamie Dimon, Lloyd Blankfein or Bryan Moynihan CEO of the country, and replace Congress with a Board of Directors. Then we won't have to keep up this Kabuki Democracy shite.

[laserhaas]

10. Dimon & Blankfein are strategizing on it already.

Just think how many trillions in lobbying money they could save;
if they could eliminate those pesky middlemen of Senators etc.

[im1013]

11. And why should the bankers/criminals take the hit?

When congress is ALL TOO HAPPY to chop away at Social Security, Medicare,
Food Stamps, Medicaid, etc....etc.....etc.......

[LaPera]

12. Rolling Stone is the best investigative journalism Mag anywhere - Mother Jones comes close.....

The Nation Mag a distant third - Truthout and Salon the best Internet Mags....Raw Story doesn't do as much as they once did - Cost a lot of money.....Huffington Post is not in the sa league just a lot of good liberal writers...but not much investigating.