Billed as the biggest opponent of financial regulatory reform, the US Chamber of Commerce is deploying former government officials to... View ArticleContinue reading
Top Financial Services Committee Members Rely Heavily On Finance Campaign Contributions
One year after the biggest economic collapse since the Great Depression, Congress is still debating new financial regulations to protect... View ArticleContinue reading
- The Hill reports that Melissa Bean’s (D-IL) “aggressive courting of K Street” is putting her challenger at a disadvantage in fundraising. The political director of the business lobby the Chamber of Commerce stated, “In Bean’s case, she has stepped out and has supported our agenda.” Bean is one of a handful of House Democrats who voted in favor of the Central American Free Trade Agreement, which was a huge victory for the business lobby.
- Google has hired two lobbying firms, one bipartisan and another with close ties to Karl Rove and Ken Mehlman, as it enters the world of Washington politics, according to the New York Times. The internet powerhouse also plans to hire a Republican political director for a new political action committee and give campaign contributions to both Republicans and Democrats. The company currently has an image as a Democratic donor as almost every employee employee contribution in 2004 went to the Democrats.
- Lobbying reform appears to be back on track in the Senate as Sen. Chuck Schumer (D-NY) agreed to remove an amendment that sought to prohibit a Dubai company from taking over control of a number of ports. According to Roll Call, the Senate appears ready to hear the bill and one of the bill’s principal authors Sen. Trent Lott (R-MS) stated, “If they’ll give me a day, I can do it.” On the House side chances for reform look questionable as the Republican caucus cannot decide what direction to take nor which proposals to consider.
- Ralph Reed is getting off the hook for his alleged violations of lobbying laws in Texas because the two-year statute of limitations had expired, according to the Atlanta Journal-Constitution. Travis County Attorney David Escamilla said, “There’s smoke. And we have the tools, via grand juries and subpoenas, to go find out if there's fire. But all of the smoke relates to a time period I can't do anything about.”
- In a new report by the Minority Office of the House Committee on Government Reform the second Iraqi oil contract for Halliburton comes under intense scrutiny and criticism for “intentional overcharging,” “inadequate cost reporting,” and a “refusal to cooperate.”
- The Associated Press reports that, “The former Republican leader of the Wisconsin Assembly was sentenced Monday to 60 days in jail for putting a party fundraiser on the state payroll.” Steven Foti is the “third former state legislator to be sentenced among five convicted in an investigation that began in 2001. Two of the others are Democrats, and two are Republicans.”
- According to the Wall Street Journal, the White House has pulled the nomination of David Sanborn to run the U.S. Maritime Administration. Sanborn was previously the former director of operations for Europe and Latin America for Dubai Ports World and his nomination became a key point of attack for critics of the deal for DP World to take over American port operations. The article notes, “Sen. Bill Nelson (D., Fla.) said he would block it until he learned more about Mr. Sanborn's involvement in the deal that gave operation of some U.S. ports to DP World, and about DP World's pending sale of those operations.”