banking industry

Public Campaign Action Fund is now Every Voice. Check out our new website: EveryVoice.org

The Chronicles of Money, Politics, and a New York State of Mind

Here's a recap of Public Campaign and Public Campaign Action Fund's (PCAF) work from March 26 through April 13, 2012.

Bankers: "Woe is me"

Try not to laugh, but citing a lack of influence in Congress, bankers have formed a new super PAC: Friends of Traditional Banking.

From the story in the American Banker: "Congress isn't afraid of bankers," adds Roger Beverage, the president and CEO of the Oklahoma Bankers Association. "They don't think we'll do anything to kick them out of office. We are trying to change that perception."

Plane Truth

Hee hee. Our own Nancy Watzman also writes for the Politics West section of the Denver Post and today she takes on links between campaign contributions and recent legislative favors to the banking and airline industries to discuss the fates of Frontier Airlines vs. Franny Airlonowitz.

How strange that for all political rhetoric about caring for the needs of the people/helping hard-working Americans/family values etc., so often corporations go to the front of the line:

Catching a Break

Bank of America has announced it's buying out Countrywide Financial for a cool $4.1 billion and taking a huge tax break by writing off the losses that Countrywide brings to the table from the collapse of the subprime mortgage market, and shifting the tax burden right on over to the taxpayers (many of whom were bitten by the subprime crisis and are now without homes).