Last year, Wall Street spent $29.8 million on lobbying to undermine financial reform — a jump in spending of 12 percent, according to the Los Angeles Times.
Next week, Senate Banking Chairman Chris Dodd (D-Conn.) is expected to introduce legislation that is the result of months of bipartisan negotiation.
But will it be the real reform the people are demanding, or will it be the weak half-measure the banks are lobbying for?
At a recent hearing, Dodd said, “Too many people in the [financial] industry have decided to invest in an army of lobbyists, whose only mission is to kill the commonsense financial reforms that we are working so hard up here to try to achieve.”
Tell Dodd to keep standing up to the big bank lobbyists! We need financial policies that put the American people before Wall Street’s profits.