Banks step up reform opposition

[cory777]

Source: UPI

Published: Feb. 15, 2010 at 9:49 PM

NEW YORK, Feb. 15 (UPI) -- Some of the largest banks in the United States are ratcheting up spending on lobbying intended to defeat proposed regulatory reform in Congress, records show.

Citing data contained in disclosure forms filed with Congress, the Los Angeles Times reported Monday lobbying expenditures rose 12 percent from 2008 to 2009 -- with eight banks and private equity firms reporting they spent $29.8 million last year on lobbying.

JPMorgan Chase & Co. spent $6.2 million -- an increase of 12 percent from 2008. Wells Fargo & Co. increased spending on lobbying by 27 percent and Morgan Stanley spent 16 percent more, the Times said.

Read more: http://www.upi.com/Top_News/US/2010/02/15/Banks-step-up-reform-opposition/UPI-20281266288540/

[Skittles]

1. I think the effectiveness of proposed legislation

can be calculated based on the opposition efforts it receives from the thieving banking industry

[NRaleighLiberal]

2. So how many nearly foreclosed families would that money help stay in their homes?

The older I get, the less patient I am with the naked bullshit - on one hand, politicians and businesses see people struggling and say that there is no money to do anything - yet millions are pissed away on useless political campaigns, ads, and lobbying.

There isn't enough shame in the world to apply to the current situation.

[proudohioan]

7. Not to mention the trillions spent on useless wars!

[Robb]

10. Naked bullshit is right. nt

[moonbatmax]

11. No Kidding!

That should be one of TWO questions that Congress IMMEDIATELY asks ANY bank exec who comes begging:

1) How much did you pay out in bonuses last year?

2) How much did you spend on lobbyists and political activity?

There probably ought to be a couple dozen such questions covering all sorts of things banks could have cut to meet their core obligations. Not that I expect Congress to have the guts, but, hey! Who knows? Stranger things have happened...

[BadgerKid]

3. There goes our bailout money. n/t

[maryf]

4. Hey but Banks are people too! right??

k&R

[DeSwiss]

5. K&R

[provis99]

6. quit fooling around with these bastards Obama and nationalize them.

either that or put their CEO's in pillories on Main Streets across America.

[Frank Cannon]

8. Time to turn over their tables and run these MFers out of town with a whip

Like Jesus, the original progressive Democrat, did 2,000 years ago.

[fasttense]

9. It seems to me our government has become nothing more than a bank.

It taxes working citizens and re-distributes our money to the wealthy. Isn't that what a bank does? Takes depositors money and lines the pockets of those rich enough to own the bank?

Why not just call us the United Banks of America. President Obama is the Bank's CEO.

Our legislature, executive and judicial branches of government seem to be all focused on getting as much of our national wealth into the hands of the uber wealthy. Very little of the people's work, legislation supported by the majority of citizens, gets done. Yet when the uber wealthy elite were about to lose all, when their fake banks on Wall Street were about to go belly up, in comes Hank Paulson and with the votes from the Democratic party, and pours trillions into them - as if they were branch offices of the US government.

Saving the banks has been the only thing accomplished since Obama took office. The stimulus package was a small hand out to the populace but it accomplished very little. We still have huge unemployment rates that are still climbing even though it's hidden with fancy bookkeeping by the BLS. In less than a year there will be a vote on our legislature. Yet, despite the historical fact that high unemployment always sees a change in parties, nothing is done. Obama himself said FDR style jobs programs are NOT suited to today. So he has absolutely NO intention of doing anything to affect unemployment, except give out tax cuts, less than a year out from an election.

Never since the 1st RepubliCON Great Depression have we seen so many long term unemployed. We still have record bankruptcies, we still have record foreclosures. The only jobs being created in the US are piss on jobs designed to serve the wealthy.

So, I say lets' acknowledge that our government is nothing more than a giant bank designed to give trillions to those with trillions.

[RUMMYisFROSTED]

12. Free speech up 12% in 2009!

It warms the cockles of my heart.

:patriot: