New Report To Outline The Depth And Breadth Of The Financial Lobby Revolving Door

A new report to be jointly released by the Service Employees International Union, Campaign for America’s Future and the Public Accountability Initiative will provide the most in-depth view yet into the vast depth and reach that financial services lobbyists have in Washington.

The report will be released and discussed on a press call at 11 a.m. Tuesday, May 11. Click here for a copy of the report. [1]

The report, researched by the Public Accountability Initiative, will show that the six largest banks and their trade associations have spent close to $600 million since the first major federal bailout of Bear Stearns in March 2008 on lobbying, trade association activity and political contributions. In addition, 243 lobbyists for these six big banks and their trade associations used to work in the federal government —202 in Congress, the rest in the White House, Treasury or at a relevant federal government agency.

In addition to releasing the report, George Goehl from National People’s Action will be on the call to preview a series of demonstrations taking place across Washington, D.C. on May 17 targeting Wall Street and corporate lobbyists.

Who:

• Bob Borosage, Co-Director, Campaign for America’s Future
• Stephen Lerner, Director, Service Employees International Union’s Banking and Finance Campaign
• Kevin Connor, Co-Director, Public Accountability Initiative
• George Goehl, Executive Director, National People’s Action

What:

• National Press Call

Where:

• Contact Eliza Brinkmeyer [2] or Gena Madow [3], (202) 822-5200, for call-in details. For credentialed media and bloggers only.

When:

• 11 a.m. Tuesday, May 11