Wall Street

Sen. Shelby's Financial Industry Money Keeps Pouring In

Sen. Richard Shelby (R-Ala.), the ranking Republican member on the Senate Banking Committee, introduced legislation today to hold “financial regulators accountable for rigorous, consistent economic analysis on every new rule they propose.”

End of Summer Recap: The Chronicles of Money, Politics, and the Summer of Special Interest Money "Well" Spent

It's been a whirlwind end of the summer. Here's a recap of Public Campaign and Public Campaign Action Fund's (PCAF) work from August 19-September 16, 2011.

FROM THE BLOG:

A Job Well Done

House Financial Services Committee Chairman Spencer Bachus (R-Ala.) will hold a press conference today bashing the “Dodd-Frank” financi

Will They Stand With the Banks or Consumers?

On Tuesday, the Senate Banking committee will hold a nomination hearing for Richard Cordray, the man selected by President Obama to lead the Consumer Financial Protection Bureau (CFPB).

Sen. Richard Shelby (R-Ala.), the ranking Republican on the committee, said Cordray’s nomination was “dead on arrival” unless concessions were made to weaken the agency’s ability to hold Wall Street banks accountable.

Sen. Shelby has received significant support from Wall Street donors during his time in Congress.

Pete Hoekstra Wants to Repeal Wall Street Reform Legislation

On Monday, the Huffington Post reported that former Rep. Pete Hoekstra (R-Mich.) called for the repeal of the Dodd-Frank financial reform legislation. According to Amanda Terkel’s story: “Former Republican congressman Pete Hoekstra, who is now running for the U.S. Senate in Michigan, called for the repeal of Wall Street reform legislation on Monday, arguing that ‘the heavy hand of the federal government’ is making it impossible for bankers to do their jobs.”

Wall St. Lobbyist to Provide Lesson on Reviewing (Wall Street) Regulations

Politico Influence reports today that House GOP Conference Secretary John Carter (R-Texas) has selected lobbyist Eric Ueland to teach his caucus about the Congressional Review Act (CRA), legislation that allows Congress to review “major” rules issued by federal agencies before they take effect and even disapprove such rules resulting in them having no force or effect.

Romney: Banks are my friends, people

"It's not healthy for rich people to feel maligned."

That's a recent quote from a Wall Street executive, who has shifted his campaign giving from President Obama to Mitt Romney. According to that article, "67 people who work in the financial sector and live in the New York City metro area gave to Obama in 2008 and to the former Massachusetts governor in 2011."

Eric Cantor's Op-Ed: Defending Campaign Donors?

House Majority Leader Eric Cantor (R-Va.) has an op-ed in the Washington Post today attacking President Barack Obama's policy agenda.

If read with the Center for Responsive Politics website opened right next to you, the op-ed could also look like a defense of some of Cantor's biggest campaign contributors.

Some excerpts (in bold):

What's in a Name?

"The names have been changed to protect the revolving door." You could say that. It's hard to say for sure, but it seems a little fishy. Think Progress reports on a former Goldman Sachs Vice President who changed his name shortly before going on to become a top staffer to House Oversight Committee chairman, Rep. Darrell Issa (D-Calif.).

Deficit Super Committee: Who Will They Look Out For?

Who will the deficit reduction “super committee” look out for, regular Americans, or their special interest campaign donors?