According to CNN reports, the U.S. interactive Center for Political Studies (Center for Responsive Politics) data released Tuesday show that the financial industry lobbying spending in Washington 2011 more than 2 consecutive $ 150 million, the focus of lobbying to Dodd – Frank (Dodd-Frank) financial reform law regulators.
data show that in 2011 the cost of lobbying investment banks $ 98 million, compared to the 2010 record of 101 million decreased slightly – Dodd – Frank (Dodd-Frank) Act is a law in 2010; including the Wall Street Division, including the large commercial banks lobbying expenditures of $ 56.6 million from 2010 to grow to 61.5 million. Both total $ 159.5 million, up a slight increase in 2010 of 157.6 million.
in Congress by Dodd – Frank (Dodd-Frank) Act, the financial institutions to move from Capitol Hill to lobby key regulatory agencies. Lobbying activities of the Sunlight Foundation to track corporate data analyst Lee Drutman said Dodd – Frank bill is huge with 2300, the creation of the rule-making process more than 240, so Wall Street to continue lobbying at this level is not surprising. These are complex technical issues, and the more complex the more popular and lobbyists have the power.
lobbying expenditures largest institutions, including the Securities Industry and Financial Markets Association (Securities Industry and Financial Markets Association) and the American Bankers Association (American Bankers Association ), respectively, $ 5.2 million and 8.8 million. In the large commercial banks, Wells Fargo 2011 lobbying expenditures from 2010 to $ 5.4 million 7.8 million; JP Morgan Chase from 7.6 million to 7.4 million. Goldman Sachs and Morgan Stanley are decreased slightly year on year, the former fell from 4.6 million in 2010 4.4 million, the latter from 280 million to 2.4 million.
the banks and industry associations are reluctant to comment. Wall Street’s focus on Washington’s lobbying industry, including mortgage loans and other credit risk and capital buffers.Tags: Wall Street's 2011 lobbying spending over 150 million for the second Wall Street