Thursday, May 9, 2013

Wall Street Hiring Power To Deal With DC - It's The Way The World Works

Source:  Politico.

I'm not against companies hiring former DC guys, politicians, regulators, or anyone else, who once worked to regulate what Wall Street and other industries.  It's as old as apple pies.  These hires will become executives, attornies, and lobbyists that do the bidding of their masters against their former masters, the American people.

I get that.  It's okay.  However, I suppose the problem now is that companies have so much influence in Washington that they're literally running the place.  If not, they soon will.  Take the 2008 financial meltdown. The aftermath was the Frank-Dodd Wall Street Reform and Consumer Protection Act of 2010 that would rein in the financial institutions and what they can do with our money.  It also provides some consumer protections as well.

Now, the game in Washington is delay, delay, and delay while financial companies try to get Congress to "defang" the act.  When possible, defund parts of it.

And that's how it now works in Washington.  You do what you can against laws you don't like by not funding it or get the rules changed after the fact to work for you.  Here is a very, very long post about how it is allowed to happen.  But it's worth the read.

And it's not just this.  Obamacare is also facing the same issue.  I'm not for it but it's the law of the land and it has to be followed.  All conservatives know that.  Rules are rules.

So, Washington becoming a hired gun for special interests isn't surprising.  It's the way the world works now.  Party politics is about money politics and the good for those who has money, not the good for the nation.

And yes, had the gun control law for background checks passed, you would see the NRA and gun makers send in their armies of lobbyists and lawyers to defang/defund it and delay it by taking it to court.

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