Quid Pro Quo: Collecting Wall Street Money For Blocking Financial Reform

Dave Johnson

This is something people should know about. Every effort to reform financial regulations is blocked by Senate filibusters. Maybe now we know why.

From last week: Republicans Chase Wall Street Donors

Last week, House Minority Leader John Boehner of Ohio made a pitch to Democratic contributor James Dimon, the chairman and chief executive of J.P. Morgan, over drinks at a Capitol Hill restaurant, according to people familiar with the matter.

Mr. Boehner told Mr. Dimon congressional Republicans had stood up to Mr. Obama’s efforts to curb pay and impose new regulations.

Isaiah Poole wrote this morning,.

The bipartisan courtship rituals between big politics and big money in Washington are bad enough, but Republican leaders in Congress are in the process of taking the process to a new low by openly declaring, “Give us your money and we will do your bidding.”

They do so in spite of the grassroots anger against the banking industry and polls that indicate majority support for the financial reforms that the banking industry vigorously opposes.

It is not just Republicans. Certain House and Senate Democrats are also feeding at the Wall Street trough. But clearly it’s the Wall Street money making the decisions here, not the good of the public or the country.

Comments