Wall Street pays big to influence Washington
January 31st, 2012
02:31 PM ET
3 years ago

Wall Street pays big to influence Washington

Washington (CNNMoney) - Financial industry spending to influence Washington topped $150 million for the second year in a row, with emphasis shifting to regulators of the Dodd-Frank reform law, according to watchdog groups.

Lobbying by investment firms hit $98 million, down a little from the record $101 million spent in 2010 when the Wall Street reform bill became law, according to the Center for Responsive Politics.

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Filed under: Wall Street
soundoff (12 Responses)
  1. Wire Palladin, S. F.

    The Cayman Kid says Wall Street, big oil, big corporations, are people too.

    January 31, 2012 02:43 pm at 2:43 pm |
  2. Truth and Nothing But the Truth

    How much do labor unions spend in Washington and all across the country to influence government, primarily to elect Democrats??? ALL of that is money taken from people and many of those people do NOT support Democrats, yet are forced to give their money to them.

    January 31, 2012 02:44 pm at 2:44 pm |
  3. Data Driven

    And they get what they pay for.

    January 31, 2012 02:45 pm at 2:45 pm |
  4. Anonymous

    "How much do labor unions spend in Washington and all across the country to influence government, primarily to elect Democrats???"

    So, are you willing to ban corporate money if the left agrees to ban union money?

    January 31, 2012 03:01 pm at 3:01 pm |
  5. Howard

    the suckers donate to obama...while Mz obama drops $50,000.00 in a dress shop in NY, tieing up trafic for blocks. Now his reelection team is out with credit card swipers for donating...this guy has no shame. If he were principaled he would resign for the mess and division he has created...but, like all power mongers he will spend a billion dollars to hold on to POWER, say and do all he can to do so.

    January 31, 2012 03:11 pm at 3:11 pm |
  6. Lando

    The Republibans got most of the lobbying money...no wonder they always spout on repealing the Dodd-Frank regulation
    law.....suckers and crocodiles...

    January 31, 2012 03:30 pm at 3:30 pm |
  7. Ed 1

    AND THE UNIONS DON'T YEA RIGHT.

    January 31, 2012 03:32 pm at 3:32 pm |
  8. Gurgi

    @wiredwrong, Of course they won't mention that. We know that there are two sets of standards/rules to the game. One set for the democrats, and a different set for everyone else.

    January 31, 2012 03:37 pm at 3:37 pm |
  9. Truth and Nothing But the Truth

    Anonymous - So, are you willing to ban corporate money if the left agrees to ban union money?
    =====================================================================
    Of course, now that corporations have a "level playing field" (isn't that what Obama is always asking for?!) the leftist unions want to negotiate a surrender of our new found freedom after the unions have had free reign for decades. Comical.

    The Democrats, leftists and unions will now be getting a taste of the medicine they have been force feeding the rest of the country for years. Long live freedom of speech, the greatest threat to leftists!!

    January 31, 2012 03:39 pm at 3:39 pm |
  10. Gurgi

    @Howard, not that I'm one to defend the Obamas, but didn't that story get debunked?

    January 31, 2012 03:45 pm at 3:45 pm |
  11. Rudy NYC

    Truth wrote:

    How much do labor unions spend in Washington and all across the country to influence government, primarily to elect Democrats??? ALL of that is money taken from people and many of those people do NOT support Democrats, yet are forced to give their money to them.
    ---------------–
    What about all of the people who buy products from multi-national corporations like big oil, banks, insurers, yet are forced to contribute to their profit Despite the fact that most people do not agree with their politics; making campaign contributions, lobbying, writing legislation that favors themselves and hurts consumers, etc.

    January 31, 2012 03:51 pm at 3:51 pm |
  12. Truth and Nothing But the Truth

    Rudy NYC - What about all of the people who buy products from multi-national corporations like big oil, banks, insurers, yet are forced to contribute to their profit
    ============================================================================================
    Forced??? You don't like it don't buy it! In a union? Try NOT paying your dues! Can't do it. FORCED WITHDRAWAL, just like taxes. Legalized THEFT!

    January 31, 2012 04:21 pm at 4:21 pm |