Want an in-depth look at the legislative struggle for financial reform in Congress? Read this excellent article from the Huffington Post’s Laura Bassett, Jeff Muskus and Elyse Siegel. It’s chock full of revealing eye-openers that show why passing strong financial regulation to rein in Wall Street is so difficult.
The authors show that the revolving door between the lobbying industry and Congress sustains a culture of pandering to big business interests that at the same time marginalizes the progressives who fight for stronger reforms.
It’s a must-read for all who care about financial reform, and it provides an insightful case study for why we need campaign finance reform to prevent our elected representatives from being bought and sold. (And it’s sure to provide some lessons we’ll need to apply in the fast-approaching fight for strong financial reform legislation in the Senate).