June 13, 2012

Senators Funded By Banks Suck Up To JP Morgan CEO Jamie Dimon During Hearing About $2 Billion Loss

Imagine if, when suspects were taken before a court to testify, they were able to pay off the judge and jury to make sure there was no serious grilling. Unfortunately, this isn’t a hypothetical. This is the U.S. Senate.

This morning, the Senate Finance Committee — which is managed by a former JP Morgan lobbyist — held a hearing about JP Morgan Chase’s stunning $2 billion trading loss last month, with CEO Jamie Dimon testifying.

While Americans put their faith in Congress to hold the Big Banks accountable, a large portion of the senators on the committee this morning pitched …

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May 19, 2012
Gephardt swore an oath to the Constitution, but Goldman Sachs pays more.

Goldman Sachs Is Paying Dick Gephardt’s Lobbying Firm To Weaken Financial Regulations

Rolling Stone’s Matt Taibbi released a new article last week where he laid out how Wall Street is at work undermining the toughest provisions of the Dodd-Frank financial reform law passed last year. Taibbi writes:

The fate of Dodd-Frank over the past two years is an object lesson in the government’s inability to institute even the simplest and most obvious reforms, especially if those reforms happen to clash with powerful financial interests. From the moment it was signed into law, lobbyists and lawyers have fought regulators over every line in the rulemaking process. Congressmen and presidents may be able to …

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