Whenever Washington politicians get together on something "bipartisan," there's a very good chance it's a lobbyist-driven initiative - one that will enrich the lobbyists'' patrons, generate campaign funds for pliant politicians, and stick it pretty much everyone else.
Want to know where a "bipartisan" bill comes from? Follow the money.
Sen. Tim Johnson, D-S.C., is almost certain to be chairman of the Senate Banking Committee next year, once current chair Chris Dodd, D-Conn., is out of office. Johnson has never had a good reputation with consumer advocates, in large part because he's opposed nearly every piece of legislation designed to thwart predatory lending. more »
Tea Party members hate Wall Street bailouts, trade deals like NAFTA, job outsourcing, giant corporations buying laws, government spending, and elites telling the rest of us what to do. more »
As the Senate continues its debate on a financial reform bill, the Institute for America's Future Report, "Big Bank Takeover," looks at who's really behind the scenes attempting to control the debate. more »
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Two-hundred and forty former legislators, bank committee staffers, and Treasury officials deployed to lobby. $600 million spent in lobbying, trade association activity and political contributions since March 2008. And that is just from the six biggest banks. The entire financial industry is spending an estimated $1.4 million a day, hiring 70 former members of Congress to make their case.
Why did Angelides wait until 3:00 to hit Dugan on preemption? He really went for it, and it was great. Angelides to Dugan: "You tied the hands of the states and then you sat on your hands." more »
I'm going to Chicago next week for the American Bankers Association meeting. Oddly, I haven't been invited to the Roaring '20's dance party I hear they're having.
Why wouldn't they celebrate the era of wild money and hot times (which slid into the Great Depression)? After all, the bankers are doing well these days. more »
I congratulate the House passing the Student Aid and Fiscal Responsibility Act (SAFRA) —see description of the bill here. This historic legislation commits billions to student aid and higher education investments, while ending wasteful bank subsidies that total $87 billion. more »
As the International Trade Commission considers comments on its recommendation to impose tariffs on Chinese tire imports, President Obama stands at a crossroads in the fight to rebuild the American economy. more »
I had the rare privilege of meeting one of my heroes, Paul Wellstone, shortly before his death in 2002 when I visited Washington as part of a conference for high school students interested in politics. more »
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