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Recommend The Truth About the Big Banks' Unprecedented Lobbying Avalanche (Email)

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By Kevin Connor, AlterNet
Posted on May 13, 2010, Printed on May 14, 2010
http://www.alternet.org/story/146856/

Over the course of the financial reform process, the six biggest banks and their murky trade associations have waged an historic assault on democracy, hiring hundreds of revolving door lobbyists and spending hundreds of millions of dollars to push their legislative agenda. I've detailed this all in a comprehensive report for Campaign for America's Future and SEIU, which you ought read because it shows the extent to which these too-big-to-fail bank behemoths own Congress.

The report details how the Big Six banks hired 243 lobbyists who once worked in the federal government, including 202 who used to work in Congress, as well as others who worked at the Treasury, the White House, or a relevant federal agency like the SEC. This is at best a conflict of interest, and at worst, a takeover of all checks-and-balances on the financial industry.


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