A coalition of banks, credit unions, and electronic payment networks have hired a vast team of lobbyists that includes 118... View Article
Continue readingGroups Opposing Debit Card Rule Have PAC, Lobby Support
In the first two months of 2011 groups associated with a coalition opposing the implementation of new rules for debit... View Article
Continue readingProposed Policies To End Fannie, Freddie Stem From Lobbying Prohibition
This week the Obama administration released three different plans to end or vastly shrink the role of the government in... View Article
Continue readingFurther Wall Street to Washington revolving door thoughts
In the post below I noted that the selection of William Daley as chief of staff to the President (now... View Article
Continue readingThe revolving door shouldn’t spin again for William Daley
President Obama is likely to select former Commerce Secretary and current JPMorgan Chase executive William Daley as his next chief... View Article
Continue readingInformation scarce on bids for failed banks
The Federal Deposit Insurance Corporation (FDIC) is making less information available to the public about how it is dealing with the rising number of bank failures in 2010. Over the last year, the agency has failed to post a complete list of bids on 41 percent of the deals it makes with other banks to take over failing institutions--and what information it does provide is more limited than before.
Before May 2009, the FDIC would provide, upon request, the names of all entities placing bids on failed banks and how much each of them bid for the bank in question ...
Continue readingToo Big To Fail: Is the financial sector too big in Washington?
Thomas Hoenig, the president of the Federal Reserve Bank of Kansas City, recently penned an op-ed in the New York... View Article
Continue readingBank lobbyist to lead Senate banking panel
Last week Sen. Tim Johnson, the incoming chairman of the Senate Banking Committee, hired Dwight Fettig, a lobbyist with numerous... View Article
Continue readingNew Financial Services Committee members raise money from finance sector
Eight of the twelve new members chosen to take seats on the House Financial Services Committee can count the finance,... View Article
Continue readingIncoming finance committee chairman relies on finance campaign contributions
The House Republican Steering Committee voted on Tuesday to name all committee chairman for the incoming Congress. Their choice to head the House Financial Services Committee, the committee in charge of overseeing the financial sector and the government's implementation of new financial reforms, happens to be the member of Congress most reliant on contributions from the financial sector.
Contributions from the finance, insurance and real estate sector accounted for 62.5 percent of all contributions received by Rep. Spencer Bachus, the incoming House Financial Services Committee chairman, during the 2010 election cycle. These contributions amounted to $1.23 million out of a total $1.97 million that Bachus' campaign and political action committees raised.
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