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Tag Archive: Steve Stivers

Big financial interests chip away at Dodd Frank regulations

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Today the House plans to take up two industry-backed bills dealing with derivatives, the hitherto opaque financial instruments so crucial to the 2008 meltdown, under a procedure usually reserved for noncontroversial matters.

coalition of labor and consumer groups, Americans for Financial Reform (AFR), believes the bills, which have bipartisan support, should be controversial and is urging lawmakers to oppose them. "Both proposed bills are unnecessary and potentially harmful attempts to micromanage the work of regulators in implementing the Dodd-Frank Act," the groups argued. "They amplify the views of the regulated industries which already have overwhelmingly greater resources to intervene ...

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Simmons-controlled company fights for protectionist measures

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When Titanium Metals Corp., a defense contractor that's part of Harold Simmons's business empire, lobbied for protectionist policies designed to shield it from foreign competition, the fight allied the Texas billionaire and Republican mega-donor with some unlikely political bedfellows, including Sen. Sherrod Brown, a liberal Democrat from Ohio, and a union that overwhelmingly gives to Democrats. 

Of the more than $34 million that Harold Simmons, his wife and daughters have contributed to politicians, parties and political organizations, just $520,000 has benefited Democrats. 

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