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Too busy for Obama, Wall St. has time to "educate" hill staffers

February 4, 2010

The same Wall Street CEOs who didn’t have the time to meet with President Obama in September made time today to meet with Congressional staffers who could help them in their billion dollar effort to derail financial reform, according to the Huffington Post.

We’ve long known that the big banks are using tons of money to lobby Congress in an attempt to prevent reform, even using bailout funds as they struggle to maintain the status quo.  Now, they’re taking it straight to the legislative staffers who could be writing financial reform legislation, and “educating” these government employees about what they think needs to be done to fix the economy.

The article quotes one CEO as saying “…We want to support regulatory reform — the things that make sense.”  But past events have shown that what “makes sense” to the banks includes continuing their current practices and refusing to modify mortgages, charging ridiculous ATM fees, and making it difficult for consumers to get out from under credit card debt.  It appears to “make sense” for the banks to make all their decisions at the expense of consumers, but we think that the staffers would do better to learn their lessons from us, the American  voters.

Contact your Senators today and ask them to stand up for consumers, not the big banks.

(Photo: Andrew Ciscel)

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