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The nation’s big banks and financial institutions, the ones we bailed out with our money, are busier than ever making sure that Congress doesn’t pass any regulations to crack down on their greedy and irresponsible behavior.

Check out the latest Newsweek for the most recent report. The financial industry has spent almost $350 million on lobbying in the first three quarters of the year.  They would rather wield their immense power in secret, as Newsweek reports.

This is an orchestrated, well-funded effort by the banks to manipulate our legislation and leave no fingerprints,” says a congressional staffer involved in drafting the legislation. The staffer, who would speak only on condition of anonymity, passed on to NEWSWEEK nine pages of proposed changes in the legislation intended to protect trading from open scrutiny—all of it on paper without a letterhead—that she says came from Goldman Sachs

2 Comments

  1. TT

    December 8, 2009 at 10:34 am

    Not the least bit surprising. The same old story continues.
    Until our capitalist system is taken apart and rebuilt we
    can expect more of the same greed and selfishness from
    the corporate sows.

  2. World Socialist Website

    December 8, 2009 at 4:04 pm

    yes TT, capitalism is failing.