Deja Vu on the Hill: Wall Street Lobbyists Roll Back Finance Reform, Again [View all]

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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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