This Bill just passed the House. The New York Times reports that 70 of the 85 lines in the new House bill reflect recommendations made in a piece of model legislation drafted by lobbyists for Citigroup, another bank that played a major role in the 2008 crisis and also received billions of federal stimulus dollars. The same report also revealed “two crucial paragraphs, prepared by Citigroup in conjunction with other Wall Street banks, were copied nearly word for word.” You can even view the original documents and see how Citigroup’s lobbyists redrafted the House Bill, striking out ideas they didn’t like and replacing them with ones they did. Citigroup is quite literally writing its own rules.
Posted on: Mon, 04 Nov 2013 20:21:31 +0000
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