Banks Run The Country

Banks Run The Country
In Crisis, Banks Dig In for Fight Against Rules
(NY Times)
6-3-9

"...Murmurs were already emanating from Washington about the need for a wide-ranging regulatory overhaul, and Wall Street executives girded for a fight."

http://www.nytimes.com/2009/06/01/business/01lobby.html?pagewanted=1&_r=2&partner=rss&emc=rss

Page 3...

"...Because the banks' lobbyists persuaded some of his Republican colleagues to resist more sweeping changes, Mr. Peterson said, he has had to modify a bill he introduced that is similar to Mr. Harkin's in calling for wide-ranging limits on derivatives.

(Referring to Congress)..."The banks run the place," Mr. Peterson said. "I will tell you what the problem is - they give three times more money than the next biggest group. It's huge the amount of money they put into politics."

(Representative Collin C. Peterson, a Minnesota Democrat and the chairman of the House Agriculture Committee)