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Sun May 26, 2013, 09:49 AM

Does this mean the banksters have finally won? [View all]

While having my coffee I came across this...
"Banks’ Lobbyists Help in Drafting Financial Bills.."

"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.) "

http://dealbook.nytimes.com/2013/05/23/banks-lobbyists-help-in-drafting-financial-bills/

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Reply Does this mean the banksters have finally won? [View all]
pangaia May 2013 OP
AnotherMcIntosh May 2013 #1
CanonRay May 2013 #5
northoftheborder May 2013 #2
Turbineguy May 2013 #3
hobbit709 May 2013 #4
redqueen May 2013 #6
Octafish May 2013 #9
pangaia May 2013 #13
MrSlayer May 2013 #7
Deep13 May 2013 #8
vi5 May 2013 #10
Initech May 2013 #11
Tierra_y_Libertad May 2013 #12