Letting a Wall Street lobbyist write your legislation is a surefire way to catch flak from campaign finance watchdogs. Rep. Jimes Himes (D-Conn.) learned that the hard way after a member of the anti-corruption group Represent.Us pranked his recent fundraiser, posing as a Citigroup lobbyist and spilling a bag full of fake money onto the floor in a very physical critique of the role played by money in politics.
WATCH Himes get pranked over his Wall Street legislation in the video above.
Himes is under fire for his support of H.R. 992, a bill that would reinstate taxpayer subsidies for a host of derivatives -- the complex financial products at the heart of the 2008 meltdown. In May, The New York Times reported that a Citigroup lobbyist wrote most of the bill.
Himes defended his bill on HuffPost Live in March.
Also on HuffPost:
S&P Lawsuit Emails Reveal Analysts Saw Problems With Quality of Ratings
According to a federal lawsuit, a 2007 email allegedly written by an investment banker to an S&P analyst included <a href="http://www.huffingtonpost.com/2013/02/05/sp-lawsuit-emails_n_2623933.html?utm_hp_ref=business" target="_hplink">this statement</a>. Other emails sent by S&P suggested that analysts were very much aware of how little quality control was valued at S&P.
The "Fabulous Fab" Email
Goldman Sachs Vice President Fabrice Tourre sent <a href="http://www.businessinsider.com/fabrice-tourre-fabulous-fab-2010-4" target="_hplink">internal emails</a> suggesting he had <a href="http://articles.marketwatch.com/2010-04-16/industries/30812338_1_fabulous-fab-tourre-exotic-trades" target="_hplink" target="_hplink">major doubts </a>about the collateralized debt obligations he sold to investors in early 2007.
S&P Employee and Collaterized Debt Obligations
In an internal email sent in December of 2006, an S&P employee indicated that he knew <a href="http://dealbook.nytimes.com/2013/02/04/u-s-and-states-prepare-to-sue-s-p-over-mortgage-ratings/" target="_hplink">how bad collateralized debt obligations</a> were before the heart of the financial crisis, The New York Times reported.
Goldman Sachs Traders On Subprime Mortgages
By 2006, Goldman Sachs traders were internally describing subprime home mortgages in <a href="http://www.huffingtonpost.com/2012/08/10/investigation-goldman-sachs_n_1765368.html" target="_hplink">a very negative light</a>.
Former Merrill Lynch Analyst Henry Blodget
Blodget <a href="http://www.time.com/time/business/article/0,8599,1938544,00.html#ixzz2K3H3Vm5H" target="_hplink">encouraged investors </a>to buy stocks that he privately wrote in emails were not good investments, to say the least, Time reported in 2009.
Barclays Traders and Libor
In private emails, Barclays traders wrote incriminating statements indicating <a href="http://ftalphaville.ft.com/2012/06/27/1062301/libor-manipulation-done-for-you-big-boy/" target="_hplink">the manipulation of libor</a>, the Financial Times reported.
JPMorgan Chase <a href="http://www.reuters.com/article/2011/02/18/jpmorgan-idUSN1829544020110218?WT.tsrc=Social Media&WT.z_smid=twtr-reuters_ com&WT.z_smid_dest=Twitter" target="_hplink" target="_hplink"> claimed</a> in a lawsuit that Lehman deceived JPMorgan with bad assets, which Lehman employees allegedly referred to internally as "goat poo."
Merrill Lynch Analysts
Back in the early 2000s, then-Attorney General Eliot Spitzer used internal emails from Merrill Lynch to prove that the bank continually promoted stocks -- <a href="http://usatoday30.usatoday.com/money/finance/2002-04-15-spitzer-email-evidence.htm" target="_hplink">such as Internet company GoTo.com</a> -- that it did not really believe in.
Morgan Stanley Bankers
Morgan Stanley bankers openly joked about <a href="http://www.huffingtonpost.com/2013/01/23/morgan-stanley-cdo-emails_n_2535784.html">a toxic investment</a> they were creating in 2007 and debated naming it "Shitbag," "Nuclear Holocaust," "Subprime Meltdown" and "Mike Tyson's Punchout," according to recently unearthed emails. The bankers later agreed upon the name "Stack."