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."
And why should Congress fear the banks when they seemingly go out of their way to accomodate the industry. As Rep. Spencer Bachus (R-Miss.) famously said when he told the Birmingham News that his job as Chairman of the House Financial Services Committee would be to, “serve the banks.”
This may seem like an elaborate Onion story, but sadly it's true. The banks think they don't have ENOUGH influence. One wonders how millions of Amercians feel while they continue to struggle finding work after "traditional banking" nearly collapsed our economy. The premise for this super PAC is truly mindblowing.
Here's a response that sums up the absurdity of the Friends of Traditional Banking super PAC.