Politics

Banking Influence Link Omnibus

By Paul Blumenthal

1) The Hill reports that the big banks have increased their lobbying in the first quarter of 2010 from their 2009 first quarter numbers.

2) Banks are hiring a number of former senators and Senate aides to lobby Congress, according to Roll Call.

3) Both Democrats and Republicans are dealing with the question of what to do with campaign contributions from Goldman Sachs now that the company is facing a civil suit from the Securities and Exchange Commission.

4) Bloomberg reports on banks increasing their lobbying.

5) Ezra Klein looks at the type of contributing that Wall Street bankers do and how that is different from how ordinary people donate. Essentially, these people are hedging when they donate to both parties:

More infuriating is that they system is used qualitatively differently by the rich than by the poor. It would be one thing if the situation was simply that the rich had more money to donate to the candidates that ignited their passion. But in reality, the motivations of a child-care worker who sends $100 to Barack Obama or Ron Paul and a hedge fund manager who holds fundraisers for both the RNC and Chuck Schumer could not be more different. One is supporting a candidate. The other is investing in access to candidates.

Full post as published by Sunlight Foundation on April 21, 2010 (boomark / email).