Lobbyist In Charge Of ‘Trying To Kill’ Financial Reform Hired By GOP Chair

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Lobbyist In Charge Of ‘Trying To Kill’ Financial Reform Hired By GOP Chair To Oversee Financial Regulations
http://thinkprogress.org/2010/12/26/lucas-financial-reform/

A few days ago, incoming Agriculture Chairman Rep. Frank Lucas (R-OK) announced the hire of Ryan McKee as the senior staffer to oversee the Commodity Futures Trading Commission. McKee is currently a lobbyist working for the U.S. Chamber of Commerce’s division dedicated to deregulating complex derivatives products. In her new role working for Lucas, McKee will be liaising with regulators in charge of implementing new rules under the Dodd-Frank Wall Street reform law to overhaul the over-the-counter derivatives market.

As ThinkProgress reported, the Chamber, which is funded by AIG, JP Morgan, CitiGroup, and other financial interests, took the lead role in fighting to defeat Wall Street reform efforts. Last year, the Chamber organized a conference call with other financial industry lobby groups and bank lobbyists to coordinate their efforts. As Tim Fernholz reported, McKee made clear that she was fighting to “kill” financial reform:

“We want to make sure that we hold all the Republicans and are able to influence enough Democrats to have a working majority to kill this thing outright or modify it to the point where it’s palatable to the business community,” Jason Matthews, the Chamber’s director of congressional affairs, told the callers. Ryan McKee, a senior director at the Chamber’s Center for Capital Markets, was even more direct in response to a question from an caller: “We’re fundamentally trying to kill this,” she said.

To undermine the new rules created by the Dodd-Frank law, the Chamber recently launched a new website dedicated to smearing the new Bureau of Consumer Financial Protection.

The Wonk Room’s Pat Garofalo has noted that Lucas and other Republicans on the Ag Committee have already signaled that they will seek to delay implementation of new derivatives regulations. Republicans raised eyebrows recently by proclaiming that they intend to “serve the banks” rather than regulate them. By hiring bank lobbyists like McKee to oversee reform, it’s clear Republicans plan on fulfilling that promise to undermine reform.

[leeroysphitz]

1. Shouldn't that headline read the other way around?

[RandomThoughts]

2. LOL.

If true that is really bad.

It is good to serve, but that means serving all people, not some subset that hurts far more.


That is helping people above you for reward, although for them to want to be on top, when they can, they will take from you also. (side note, top and bottom depend on metaphor of V or ^



Although it is possible they are doing the opposite, and reports like that are to cover others doing the same thing.

:shrug: The big banks and corporations have to be broken up, they are not a legitimate authority.


In Pulp Fiction, there was a scene, the wallet said Bad MF on it, and money was in it, a pretty good comment.

Same comment in the name of

IMF

Money does not have a moral component.

[Angry Dragon]

3. intend to “serve the banks” rather than regulate them

Then I can only believe these people are traitors to the American people and should be impeached and tried for treason

[FreakinDJ]

4. What did you expect the RATpubliCONs to do

actually work to benefit the people they were elected to represent

Ha

[Ruby the Liberal]

5. This is beyond the pale. We need Brooksley Born in there, not a bank lobbyist.