Financial Reform: Lobbyists Fret, Call Some Proposals 'Crazy' 'Draconian,' 'Insanely Unproductive'

washingtonpost.com:

Some industry lobbyists, bracing for significant setbacks in the Senate, already are pinning their hopes on the House-Senate conference process, where differences between the bill and the House version would be worked out. In a twist of fate, some say they'll be looking to Rep. Barney Frank (D-Mass.), chief architect of the House bill and a sharp critic of banking excesses, to restore what they call rational discussion.
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"I think some of this stuff is going to get totally irrational," said one of many lobbyists who spoke on the condition of anonymity to discuss the situation more freely.

Read the whole story: washingtonpost.com

Comments

[YMBM]

05:59 PM on 05/05/2010

If I was a Lobbyist in America, I would be concern with all aspects of their business model. I would make sure everything is above board and not to take any political candidate work as bonding, because we are in an Era of the PEOPLE. Loopholes and special deals will no longer be occurring within the Political Arena.

[BlueDog1]

01:58 PM on 05/05/2010

If "K" is upset it has to be great for the country put them all in jail.

[binksmom85]

11:15 AM on 05/05/2010

if you have not watched this Frontline episode, watch it now before they vote, and then call your rep and senator; we need the strongest regulation possible. Greenspan knew the derivatives market was going to be selling fraudulent goods at the beginning of the Clinton administration, and he did not want civil or criminal investigations, he wanted the market to regulate it. This person had Ayn Rand brought into the White House Oval Office for his oath of office under Reagan. Which we now know he abrogated, with malice aforethought.
http://www.pbs.org/wgbh/pages/frontline/warning/view/#morelink

[hellboundtrain]

10:11 AM on 05/05/2010

Demand that the SEC be investigated for not going after naked short sellers, the real destroyers of wealth! It is illegal, but the SEC has turned a blind eye to the practice! Take a look at the NYSE Reg SHO list to see how commonplace undelivered trades on a daily basis.

SEC. Where have they been while investors funds have been looted?!

[santai]

08:58 AM on 05/05/2010

...crazy draconian measures that means they won't be able to steal our savings and pensions.

[OtayPanky]

08:52 AM on 05/05/2010

Fro the article: These advocates say that stiff regulation could stifle the flow of credit, undermine American competitiveness in global markets and cost jobs.

---

As opposed to leaving this Wall St kids alone, which could destroy the economy altogether.

[norkas]

07:38 AM on 05/05/2010

Hello our firm TRG lobbyist will be working with Republicans to rid Americans of many freedoms they have. We are proud to tell you have an over 60% support of Republican politicians to move forward with a program changing the laws towards a Dictatorship to help Americans.

TRG is proud to announce that at a cost of only $150 million we have the votes to REFORM AMERICA.

Lobbyist often have no ethics or care about what is good for Americans. Are there good issues that are lobbied for? Of course but so few of them they are never discussed.

[iceage7]

05:05 AM on 05/05/2010

Abolish Lobbying!!! Now lets see how they squeel

[Azterix]

02:10 AM on 05/05/2010

LMAO! They are cry babies. LMAO!!!!!

[Azterix]

02:04 AM on 05/05/2010

WE, THE PEOPLE say "Shut the F up!" to your greedy, unpatriotic @ss lobbyists.

[PhilipTaylor]

01:28 AM on 05/05/2010

OUTRAGEOUS - G0LDMAN & Wall Street WANT US TO BELIEVE that

*** G0LDMAN did NOT KNOW loans to marginal buyers with PAYMENTS that would:

DOUBLE
TRIPLE or
EVEN QUADRUPLE!

Of course, these P00R PEOPLE were SURE TO FAIL! And G0LDMAN+PAULSON KNEW!

[PhilipTaylor]

01:26 AM on 05/05/2010

R1CO CHARGES ARE NECESSARY and LOGICAL!

http://www.youtube.com/watch?v=eP1G10eP1eE&feature=player_embedded#!

[unsense]

10:46 AM on 05/05/2010

The racist teabaggers will probably oppose it - like everything else! They are ruining our country!

[ihaveabalancedcheckbook]

01:25 AM on 05/05/2010

They are saying exactly what they are getting paid to say. Their opinions are bought. There is no reason to be outraged over what they are saying, you can only laugh. The outrage is that the lobbyist will bitch and moan, congress will pass a financial reform bill, and then the media will report that the lobbyist lost. When in reality a crap reform bill was passed, that will change nothing. Dems will claim victory over the Reps, and depending on who you like to get your news from be it FOX or MSNBC you'll either think that the Dems are winning or the Reps are going to do well in the upcoming midterm elections. The banks and bankers will make more $, they'll donate more to both parties, and the status quo remains...on your dime. That's not funny at all.

[Clayton139]

01:19 AM on 05/05/2010

We need to Regulate, Regulate, Regulate or vote every Representative, Senator out of office no matter what party and get new people in there to work for us; the American people !
The first law to pass is ban any and all Lobbyist from Washington and big money !
Get rid of the money hungry sellouts Palin's Beck's, Limbaugh’s Fox, Republican's Left-Right and move to take care of American and the people of the USA !
Look what both party's have done for us, nothing ! Big business has ruined this country for "A Majority" of people !
I'm so tired of blowing off steam on here and nothing gets done !

[bthechangeyouseek]

10:46 AM on 05/05/2010

When Orin Hatch is concerned that the people will replace all incumbents (he is not up this year) we know the GOP is concerned. Keep calling your representatives and let them know you will not tolerate pandering to Wall Street and the Senate will be held accountable to the people.

[MetalCanuck]

01:16 AM on 05/05/2010

These reforms are weak, they just want free reign, lets have an audit of the fed like Ron Paul wants then we should have Glass Stegal restored now.