Friday, September 07, 2012

Bankers campaign for reduced regulations -- oh, goody!

To be filed under the category of "things that make me weary," the American Bankers Association, a group representing the largest banks in the U.S., is likely to launch a new Super PAC "to back candidates who favor rolling back provisions of the Dodd-Frank financial reform law."

This is according to a piece by ThinkProgress, which also says this:

The group plans to focus on Senate races, as "attempts in the Republican-controlled House to roll back regulation of the financial industry, particularly the 2010 Dodd-Frank Act, have so far run aground in the Democratic-controlled Senate." Having a Super PAC would allow the ABA to funnel money anonymously to these races; so far, the ABA has donated $1.7 million to 2012 candidates, the majority of which went to Republicans.

Doesn't that make you feel optimistic about the future of financial regulation in America?

(Cross-posted at Lippmann's Ghost.)

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