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Posts Tagged ‘Wall Street and consumer finance protection’

Barney Frank: “…Now They’re Starting to Hate Me…”

Posted by Larry Doyle on July 1st, 2009 12:21 PM |

U.S. Rep. Barney Frank (D-MA), House Financial Services Committee Chairman

Barney Frank should not be so presumptuous to think that it is just “now” that a large percentage of America is starting to hate him. The displeasure, if not the contempt, for Barney and his minions who have run our country into the ground over the last twenty years is soaring!!

As the Wall Street Journal reports this morning, Finance Lobby Cuts Spending as Feds Targeted Wall Street:

Wall Street’s spending on efforts to influence policy making diminished at the start of this year as the image of financial institutions has suffered with lawmakers and the public. Some of the sector’s major advocate groups lost funding and staff. Their spending declined just as the administration was hammering out its proposal for the biggest reorganization of financial-market oversight since the 1930s, details of which the White House released last month.

Industry lobbyists met last week to craft a response to the White House’s draft regulatory overhaul, particularly its creation of a consumer-oriented regulator for financial products, which could force major changes in how financial instruments are created and marketed. Whether or not the industry can influence this top administration priority, now that the plan is in the hands of Congress, will be a big test of its remaining clout.

The gig is up!! (more…)






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