It’s not just Britons and Europeans who are invested in the outcome of the referendum: Several American companies are lobbying hard to keep Britain in the EU.Continue reading
New research indicates STOCK Act might be working
New research into hedge funds with political access seems to have demonstrated that the STOCK Act is making a difference.Continue reading
Opposition grows to Jamie Dimon role at Federal Reserve
A grassroots movement with some big name support is calling for Washington’s favorite banker to cut his ties with the Fed. Some 30,000 signatures have been collected on a Change.org petition urging that the chief executive of embattled JPMorgan Chase, Jamie Dimon, resign or be removed from the New York Federal Reserve's board of directors. The petition creator, Simon Johnson, is the former chief economist of the International Monetary Fund. In the past Change.org waged successful campaigns on issues ranging form the Bank of America debit card fee, to working conditions in Apple’s Chinese ...Continue reading
Despite ‘unlikes’ over Facebook, Morgan Stanley still has friends in high places
The disappointing debut of Facebook’s IPO and Morgan Stanley’s seemingly unequal treatment of its customers in providing inside last-minute cautions about the social network giant has investors and regulators upset, and lawyers readying for business. But when the nation's lawmakers start making the inevitable inquiries (key House and Senate committees already are making noises) about the deal and its chief underwriter, Morgan Stanley will not be defenseless. The financial services giant has plenty of political capital from campaign contributions and a veteran lobbying team.
Morgan Stanley has heavily invested in lobbyists. In the last three quarters of ...Continue reading
JPMorgan better at hedging political bets than financial investments?
JPMorgan Chase & Co. may have lost a $2 billion dollar bet on the markets, but the investment giant's campaign contributions show a much more conservative approach, featuring mega contributions to both political parties -- and both of this year's leading presidential candidates.
The company and its employees have been generous donors to political campaigns. JPMorgan's political largesse has totaled more than $21 million since 1991, according to Influence Explorer. The Center for Responsive Politics lists the storied bank as one of President Obama's top 2008 donors; his haul that year made him the top recipient of JPMorgan ...Continue reading
Influence Explored: Capital One opens its wallet for HSBC, Congress
Bloomberg reported yesterday that U.S. based bank Capital One will purchase UK-based HSBC’s U.S. credit card arm for a reported... View ArticleContinue reading
Suspicions of mortgage fraud on the rise
In 2006 and 2007, at least 12 Riverside, Calif., residents with good credit found a real estate investment that seemed too good to be true. All they had to do was fill out a few forms and in return they could expect to receive checks of up to $50,000. The only problem was, the plan was a sham.
And earlier this year, Riverside county authorities finally caught up with the ploy and arrested Jose Ochoa and others accusing them with grand theft for the purported mortgage fraud. He was accused of misusing information from people with good credit to ...Continue reading
Finance PACs Fill Financial Services Committee Freshmen Coffers
On March 16, the House Financial Services Subcommittee on Capital Markets & Government Sponsored Enterprises held a hearing to discuss... View ArticleContinue reading
Financial Industry Showers House Financial Services Chairman With Contributions
Last year House Financial Services Committee Chairman Spencer Bachus, R-Ala., stated his philosophy on how the relationship between Washington and... View ArticleContinue reading
Banking Committee Staffer Revolves to Financial Consulting Firm
Promontory Financial Group announced yesterday the hiring of Amy Friend, the former chief counsel on the Senate Banking Committee. Friend... View ArticleContinue reading