The Wall Street Money Ties That Lead to Loopholes

By
Friday, December 11, 2009 at 3:28 pm

Advocates for financial regulatory reform must be shaking their heads today after watching Rep. Melissa Bean’s (D-Ill.) efforts to weaken a comprehensive financial regulatory reform bill — which have been, all told, pretty effective. As we noted earlier, House lawmakers struck a deal late Thursday night on a modified form of an amendment pushed by bank-friendly Democrats, led by Bean, that would still allow federal laws to override stronger state protections. The House passed the financial overhaul bill today.

And why would Bean be so interested in protecting big banks from stricter state regulations? One reason may be that, as Mike Elk in The Huffington Post points out, Bean is Wall Street’s favorite Democrat. She has already pocketed $338,125 in campaign contributions from the financial services and banking industries so far this year, according to the Center for Responsive Politics, which tracks money in politics. And it’s not like the rest of that committee had huge incentives to push back against Bean’s amendment. The House Financial Services Committee as a whole has benefited greatly from Wall Street’s largesse, taking in a total of $77.6 million in campaign cash since 1989, figures show.CRP’s

Elk clearly has had just about enough:

We shouldn’t stand for Democrats doing the work of Wall Street when they are supposed to be doing the work of the American people. We need to get our cops back on the beat protecting Main Street from Wall Street.

But the problem isn’t a lack of cops on the beat – it’s Rep. Barney Frank’s (D-Mass.) committee, after all. The bigger issue seems to be the money the cops are taking in from Wall Street.

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wine clubs
Comment posted December 11, 2009 @ 7:25 pm

Unfortunately money tends to create these types of loopholes and I'm not sure there is any way to fix human nature. As soon as the economy turns, I do hope these firms don't take more chances to make up for lost time.


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monkey99
Comment posted December 12, 2009 @ 1:32 pm

wine clubs,

Don't hold your breath. Wall St. had 8 years or so to “refine' the practices that almost screwed this country into the ground, and show no evidence of reformation, just recalcitrance.

They are like toddlers. Funny to watch, but you can't trust them long enough to leave them by themselves for any length of time. Regulation is the only measure that resembles a babysitter in this case.


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DOUGLASFIELD
Comment posted December 13, 2009 @ 7:11 pm

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LETS ALL HOPE AND PRAY THAT THESE 3 GREAT CHRISTIAN SOCIETIES OF PERU,AMERICA AND THE VATICAN BECOME WILLING AND CAPABLE OF UNITING 2 BRING GOOD~WILL TO MANKIND IN THE AMERICA~S DURING THIS CHRISTMAS AND NEW~YEARS HOLIDAY SEASON ???

LAWYERS FOR POOR AMERICANS WISHES HAPPY HOLIDAYS TO ALL THE BEAUTIFUL PEOPLE OF PERU AND THEIR CONTEMPORARY AND PRAGMATIC PRESIDENTIAL LEADER ALAN GARCIA.

SINCE IT IS THE CHRISTMAS HOLIDAY SEASON,LAWYERS FOR POOR AMERICANS THOUGHT MAYBE OUR FRIENDS IN AND OUT OF GOVERNMENT IN PERU AND AMERICA MIGHT NOW HAVE AN INTEREST TO SERIOUSLY DISCUSS A POSSIBLE FUTURE TRADE OF PRISONERS BETWEEN BOTH OUR COUNTRIES ???

MOST ALL AMERICANS AND I'M SURE ALSO MOST CITIZENS OF PERU BELIEVE IN THE TEACHINGS OF JESUS CHRIST AND ARE ALL STRIVING IN BEING ABLE TO EMULATE THE LORD AND HIS LOVE FOR ALL OF MANKIND .

CURRENTLY AMERICA STILL HAS TWO BLACK AMERICAN CITIZENS ON DEATH ROW(TROY DAVIS OF GEORGIA AND MUMIA ABU~JAMAL OF PENNSYLVANIA)WHO JUST MIGHT BE POSSIBLY FALSELY EXECUTED IN THE NEAR FUTURE FOR CRIMES THEY NEVER COMMITTED.

SADLY EVEN THOUGH AMERICA IS CONSIDERED THE WEALTHIEST COUNTRY IN THE WORLD,WE STILL HAVE SEVERE PROBLEMS NATION~WIDE WITH OUR AMERICAN JUDICIAL SYSTEM NOT BEING NEARLY CAPABLE OF AFFORDING JUST AND FAIR LEGAL OPPORTUNITIES FOR ALL OUR POORER CITIZENS TO RECEIVE PROPER JUDICIAL TRIALS NATION~WIDE.

MILLIONS OF VARIOUS CITIZENS WORLD~WIDE ARE WELL AWARE OF THESE TWO U.S.LEGAL CASES OF TROY DAVIS OF GEORGIA AND MUMIA ABU~JAMAL OF PENNSYLVANIA AND HAVE ALSO VOICED THEIR CONCERNS INTERNATIONALLY FOR NEW AND JUST TRIALS TO BE OFFERED BOTH THESE AMERICAN MEN.

LAWYERS FOR POOR AMERICANS PROPOSES A CHRISTMAS PRISONER TRADE THAT ALL CHRISTIANS IN BOTH OUR FRIENDLY COUNTRIES COULD REJOICE IN.TROY DAVIS AND MUMIA ABU~JAMAL LIVES COULD BE SPARED THIS HOLIDAY SEASON IN EXCHANGE FOR THE POSSIBLE EARLY RELEASE OF OUR LOST AMERICAN AND HER NEWBORN CHILD~ LORI BERENSON.

MILLIONS OF AMERICANS AND CITIZENS OF PERU ARE AWARE THAT LORI BERENSON RECENTLY GAVE BIRTH TO A BABY BOY IN PERU IN MAY AND HOPE AND PRAY THAT MOST EVERYONE IN PERU AND AMERICA CAN FIND IT IN THEIR HEARTS THIS CHRISTMAS TO ALLOW THIS NEWBORN AND MOTHER THEIR FREEDOM WHILE SPARING THE LIVES OF TROY DAVIS AND MUMIA ABU~JAMAL.

PRESIDENT OBAMA AND ALAN GARCIA ARE BOTH REASONABLE AND CARING MEN WHO COULD INITIATE A WHOLE NEW WORLD CONCEPT EVERY CHRISTMAS AND NEW YEAR OF FORGIVENESS IN FUTURE PRISONER EXCHANGES BETWEEN VARIOUS COUNTRIES ???

THE WORLD IS ALWAYS IN NEED OF POSITIVE CHANGE,NEW ENLIGHTENMENT, AND INTERNATIONAL PRESIDENTIAL LEADERSHIP.OUR TWO SPECIAL PRESIDENTS OF BOTH OUR UNIQUE COUNTRIES HAVE A WONDERFUL OPPORTUNITY TO SET A NEW AGENDA OF LOVE,PEACE AND FORGIVENESS FOR THE REST OF THIS SILLY & VIOLENT WORLD TO BE INSPIRED BY…

LAWYERS FOR POOR AMERICANS IS A WWW VOLUNTEER LOBBY THAT SINGS OUT 4 MIDDLE~ CLASS AND WORKING POOR AMERICANS THAT CAN BE FOUND WITH ANY SEARCH ENGINE. ~WE BRING THE GOOD LIFE ON THE WWW TO MASSES OF POORER AMERICANS~ (424-247-2013)


DOUGLASFIELD
Comment posted December 13, 2009 @ 7:11 pm

IF OUR U.S. MIDDLE~CLASS AND WORKING POOR AMERICANS ONLY HAD THEIR OWN REP MELISSA BEAN (BACKERS) LOBBYING ON THEIR BEHALF IN THIS THE PEOPLES U.S.CONGRESS AND WHITEHOUSE…. THEN ALL WOULD BE WELL THIS HOLIDAY SEASON IN PENNSYLVANIA GEORGIA AND PERU……………………

LETS ALL HOPE AND PRAY THAT THESE 3 GREAT CHRISTIAN SOCIETIES OF PERU,AMERICA AND THE VATICAN BECOME WILLING AND CAPABLE OF UNITING 2 BRING GOOD~WILL TO MANKIND IN THE AMERICA~S DURING THIS CHRISTMAS AND NEW~YEARS HOLIDAY SEASON ???

LAWYERS FOR POOR AMERICANS WISHES HAPPY HOLIDAYS TO ALL THE BEAUTIFUL PEOPLE OF PERU AND THEIR CONTEMPORARY AND PRAGMATIC PRESIDENTIAL LEADER ALAN GARCIA.

SINCE IT IS THE CHRISTMAS HOLIDAY SEASON,LAWYERS FOR POOR AMERICANS THOUGHT MAYBE OUR FRIENDS IN AND OUT OF GOVERNMENT IN PERU AND AMERICA MIGHT NOW HAVE AN INTEREST TO SERIOUSLY DISCUSS A POSSIBLE FUTURE TRADE OF PRISONERS BETWEEN BOTH OUR COUNTRIES ???

MOST ALL AMERICANS AND I'M SURE ALSO MOST CITIZENS OF PERU BELIEVE IN THE TEACHINGS OF JESUS CHRIST AND ARE ALL STRIVING IN BEING ABLE TO EMULATE THE LORD AND HIS LOVE FOR ALL OF MANKIND .

CURRENTLY AMERICA STILL HAS TWO BLACK AMERICAN CITIZENS ON DEATH ROW(TROY DAVIS OF GEORGIA AND MUMIA ABU~JAMAL OF PENNSYLVANIA)WHO JUST MIGHT BE POSSIBLY FALSELY EXECUTED IN THE NEAR FUTURE FOR CRIMES THEY NEVER COMMITTED.

SADLY EVEN THOUGH AMERICA IS CONSIDERED THE WEALTHIEST COUNTRY IN THE WORLD,WE STILL HAVE SEVERE PROBLEMS NATION~WIDE WITH OUR AMERICAN JUDICIAL SYSTEM NOT BEING NEARLY CAPABLE OF AFFORDING JUST AND FAIR LEGAL OPPORTUNITIES FOR ALL OUR POORER CITIZENS TO RECEIVE PROPER JUDICIAL TRIALS NATION~WIDE.

MILLIONS OF VARIOUS CITIZENS WORLD~WIDE ARE WELL AWARE OF THESE TWO U.S.LEGAL CASES OF TROY DAVIS OF GEORGIA AND MUMIA ABU~JAMAL OF PENNSYLVANIA AND HAVE ALSO VOICED THEIR CONCERNS INTERNATIONALLY FOR NEW AND JUST TRIALS TO BE OFFERED BOTH THESE AMERICAN MEN.

LAWYERS FOR POOR AMERICANS PROPOSES A CHRISTMAS PRISONER TRADE THAT ALL CHRISTIANS IN BOTH OUR FRIENDLY COUNTRIES COULD REJOICE IN.TROY DAVIS AND MUMIA ABU~JAMAL LIVES COULD BE SPARED THIS HOLIDAY SEASON IN EXCHANGE FOR THE POSSIBLE EARLY RELEASE OF OUR LOST AMERICAN AND HER NEWBORN CHILD~ LORI BERENSON.

MILLIONS OF AMERICANS AND CITIZENS OF PERU ARE AWARE THAT LORI BERENSON RECENTLY GAVE BIRTH TO A BABY BOY IN PERU IN MAY AND HOPE AND PRAY THAT MOST EVERYONE IN PERU AND AMERICA CAN FIND IT IN THEIR HEARTS THIS CHRISTMAS TO ALLOW THIS NEWBORN AND MOTHER THEIR FREEDOM WHILE SPARING THE LIVES OF TROY DAVIS AND MUMIA ABU~JAMAL.

PRESIDENT OBAMA AND ALAN GARCIA ARE BOTH REASONABLE AND CARING MEN WHO COULD INITIATE A WHOLE NEW WORLD CONCEPT EVERY CHRISTMAS AND NEW YEAR OF FORGIVENESS IN FUTURE PRISONER EXCHANGES BETWEEN VARIOUS COUNTRIES ???

THE WORLD IS ALWAYS IN NEED OF POSITIVE CHANGE,NEW ENLIGHTENMENT, AND INTERNATIONAL PRESIDENTIAL LEADERSHIP.OUR TWO SPECIAL PRESIDENTS OF BOTH OUR UNIQUE COUNTRIES HAVE A WONDERFUL OPPORTUNITY TO SET A NEW AGENDA OF LOVE,PEACE AND FORGIVENESS FOR THE REST OF THIS SILLY & VIOLENT WORLD TO BE INSPIRED BY…

LAWYERS FOR POOR AMERICANS IS A WWW VOLUNTEER LOBBY THAT SINGS OUT 4 MIDDLE~ CLASS AND WORKING POOR AMERICANS THAT CAN BE FOUND WITH ANY SEARCH ENGINE. ~WE BRING THE GOOD LIFE ON THE WWW TO MASSES OF POORER AMERICANS~ (424-247-2013)


DOUGLASFIELD
Comment posted December 14, 2009 @ 12:11 am

IF OUR U.S. MIDDLE~CLASS AND WORKING POOR AMERICANS ONLY HAD THEIR OWN REP MELISSA BEAN (BACKERS) LOBBYING ON THEIR BEHALF IN THIS THE PEOPLES U.S.CONGRESS AND WHITEHOUSE…. THEN ALL WOULD BE WELL THIS HOLIDAY SEASON IN PENNSYLVANIA GEORGIA AND PERU……………………

LETS ALL HOPE AND PRAY THAT THESE 3 GREAT CHRISTIAN SOCIETIES OF PERU,AMERICA AND THE VATICAN BECOME WILLING AND CAPABLE OF UNITING 2 BRING GOOD~WILL TO MANKIND IN THE AMERICA~S DURING THIS CHRISTMAS AND NEW~YEARS HOLIDAY SEASON ???

LAWYERS FOR POOR AMERICANS WISHES HAPPY HOLIDAYS TO ALL THE BEAUTIFUL PEOPLE OF PERU AND THEIR CONTEMPORARY AND PRAGMATIC PRESIDENTIAL LEADER ALAN GARCIA.

SINCE IT IS THE CHRISTMAS HOLIDAY SEASON,LAWYERS FOR POOR AMERICANS THOUGHT MAYBE OUR FRIENDS IN AND OUT OF GOVERNMENT IN PERU AND AMERICA MIGHT NOW HAVE AN INTEREST TO SERIOUSLY DISCUSS A POSSIBLE FUTURE TRADE OF PRISONERS BETWEEN BOTH OUR COUNTRIES ???

MOST ALL AMERICANS AND I'M SURE ALSO MOST CITIZENS OF PERU BELIEVE IN THE TEACHINGS OF JESUS CHRIST AND ARE ALL STRIVING IN BEING ABLE TO EMULATE THE LORD AND HIS LOVE FOR ALL OF MANKIND .

CURRENTLY AMERICA STILL HAS TWO BLACK AMERICAN CITIZENS ON DEATH ROW(TROY DAVIS OF GEORGIA AND MUMIA ABU~JAMAL OF PENNSYLVANIA)WHO JUST MIGHT BE POSSIBLY FALSELY EXECUTED IN THE NEAR FUTURE FOR CRIMES THEY NEVER COMMITTED.

SADLY EVEN THOUGH AMERICA IS CONSIDERED THE WEALTHIEST COUNTRY IN THE WORLD,WE STILL HAVE SEVERE PROBLEMS NATION~WIDE WITH OUR AMERICAN JUDICIAL SYSTEM NOT BEING NEARLY CAPABLE OF AFFORDING JUST AND FAIR LEGAL OPPORTUNITIES FOR ALL OUR POORER CITIZENS TO RECEIVE PROPER JUDICIAL TRIALS NATION~WIDE.

MILLIONS OF VARIOUS CITIZENS WORLD~WIDE ARE WELL AWARE OF THESE TWO U.S.LEGAL CASES OF TROY DAVIS OF GEORGIA AND MUMIA ABU~JAMAL OF PENNSYLVANIA AND HAVE ALSO VOICED THEIR CONCERNS INTERNATIONALLY FOR NEW AND JUST TRIALS TO BE OFFERED BOTH THESE AMERICAN MEN.

LAWYERS FOR POOR AMERICANS PROPOSES A CHRISTMAS PRISONER TRADE THAT ALL CHRISTIANS IN BOTH OUR FRIENDLY COUNTRIES COULD REJOICE IN.TROY DAVIS AND MUMIA ABU~JAMAL LIVES COULD BE SPARED THIS HOLIDAY SEASON IN EXCHANGE FOR THE POSSIBLE EARLY RELEASE OF OUR LOST AMERICAN AND HER NEWBORN CHILD~ LORI BERENSON.

MILLIONS OF AMERICANS AND CITIZENS OF PERU ARE AWARE THAT LORI BERENSON RECENTLY GAVE BIRTH TO A BABY BOY IN PERU IN MAY AND HOPE AND PRAY THAT MOST EVERYONE IN PERU AND AMERICA CAN FIND IT IN THEIR HEARTS THIS CHRISTMAS TO ALLOW THIS NEWBORN AND MOTHER THEIR FREEDOM WHILE SPARING THE LIVES OF TROY DAVIS AND MUMIA ABU~JAMAL.

PRESIDENT OBAMA AND ALAN GARCIA ARE BOTH REASONABLE AND CARING MEN WHO COULD INITIATE A WHOLE NEW WORLD CONCEPT EVERY CHRISTMAS AND NEW YEAR OF FORGIVENESS IN FUTURE PRISONER EXCHANGES BETWEEN VARIOUS COUNTRIES ???

THE WORLD IS ALWAYS IN NEED OF POSITIVE CHANGE,NEW ENLIGHTENMENT, AND INTERNATIONAL PRESIDENTIAL LEADERSHIP.OUR TWO SPECIAL PRESIDENTS OF BOTH OUR UNIQUE COUNTRIES HAVE A WONDERFUL OPPORTUNITY TO SET A NEW AGENDA OF LOVE,PEACE AND FORGIVENESS FOR THE REST OF THIS SILLY & VIOLENT WORLD TO BE INSPIRED BY…

LAWYERS FOR POOR AMERICANS IS A WWW VOLUNTEER LOBBY THAT SINGS OUT 4 MIDDLE~ CLASS AND WORKING POOR AMERICANS THAT CAN BE FOUND WITH ANY SEARCH ENGINE. ~WE BRING THE GOOD LIFE ON THE WWW TO MASSES OF POORER AMERICANS~ (424-247-2013)


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