Bank Lobbyists Laugh At Congressional Dems

In a story about Banking Committee Chairman Sen. Chris Dodd's admirable efforts to amend bankruptcy laws and put limits on executive compensation (ie. what should be the absolute minimum in any bailout), Roll Call reports that the financial industry is openly laughing at him and fellow Democrats:

"Not all lobbyists believe the Dodd bankruptcy provision is the real deal. One industry advocate, who would speak only on background, said he believes it was floated for purely political purposes. 'No one’s taking Dodd seriously,' this lobbyist said."

The financial industry's attitude towards Congress is Henry Paulson's attitude: namely, that the national legislature is a joke whose only role is to cut fat taxpayer checks to lawmakers' Wall Street donors. Will Democrats once again be the punchline, or will they push back?

Sign Sen. Bernie Sanders' letter telling them to push back—hard.

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