By Cliff Montgomery – Aug. 17th, 2010
Though federal officials recently passed sweeping financial oversightlegislation, many of the day-to-day rules that will give that law realteeth will be written by regulators over the next two years.
Wall Street lobbyists quietly are working to shape thoserules in their favor, according to a new video from The HuffingtonPost Investigative Fund.
In short, they’re daily peddling their money and influence in a spiriteddrive to restart casino capitalism all over again.
“We’re at half-time (in the oversight process),” states top lobbyist Scott Talbott, who represents the FinancialServices Roundtable, the trade group for this country’s most powerful banks and other financial corporations.
“Now the policymakers–Capitol Hill is sitting down, for the most part, and the regulation [is taking its realshape].”
Mr. Talbott and others like him plan to play a big part in the ‘second half’ of America’s much-needed financialreform.
Our view? God help us if they succeed.
