Big banks increase lobbying against regulation
So after they basically screwed up the whole economy, a mess we are finally begining to claw our way out of. These guys have the sociopathic gall to spend to lobby against regulatoin.
Leaders of the nation’s financial industry are turning up the heat on lawmakers to put the kibosh on some of the stiffest regulatory proposals pending in Congress — lobbying expenditures have leapt from 12 percent in 2008 to nearly 30 percent this year in an effort to quash financial-reform proposals such as a bank tax, limits on big bank size and curbs on lenders’ flexibility in risky hedge funds and private equity funds. JP Morgan is the biggest lobbying spender, followed closely by Wells Fargo and Morgan Stanley.
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