Monday, November 30, 2015

Amid 'reform' debate, banks shovel cash to Congress

South Jersey Rep. John Adler is among the Congressmen raising money from big banks while reviewing new bank regulations, reports Bloomberg

Amid 'reform' debate, banks shovel cash to Congress


"At least 20 House and Senate lawmakers have scheduled fundraisers in May targeting the industry or hosted by lobbyists for banks such as Goldman Sachs Group Inc. and Citigroup Inc... The events allow lobbyists to mingle with lawmakers as the Senate debates sweeping new regulations for the industry," reports Bloomberg here.

"Some members of Congress have criticized Wall Street one month only to ask the industry for money the next. U.S. Representative John Adler, a New Jersey Democrat, demanded accountability from Wall Street in an April 29 statement. This week, he’s holding what is billed as a “financial services dinner” in Washington with a minimum contribution of $1000...

"Lobbyists for New York-based Goldman Sachs and Citigroup are among those hosting a $1,000-a-plate breakfast on May 20 for Senator Mike Crapo of Idaho, a Republican member of the Senate Banking Committee. The group sponsoring the Washington event, Capitol Tax Partners LLP, lobbies on tax issues...

"One of the hosts of a $1,000-per-person Washington fundraiser on May 18 for another Senate Banking Committee member, (Republican) Bob Corker of Tennessee, will be Tim Locke, a lobbyist whose clients include Charlotte, North Carolina-based Bank of America Corp."

We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog

PhillyDeals posts interviews, drafts and updates that Joseph N. DiStefano writes alongside his Sunday and Monday columns and ongoing articles about Philadelphia-area business.

DiStefano studied economics, history and a little engineering at Penn. He taught writing and research at St. Joe’s. He has written for the Inquirer since 1989, except when he left a few times to work at Bloomberg and elsewhere. He wrote the book Comcasted, and raised six kids with his wife, who is a saint.

Reach Joseph N. at, 215.854.5194, @PhillyJoeD. Read his blog posts at and his Inquirer columns at Bloomberg posts his items at NH BLG_PHILLYDEAL.

Reach Joseph N. at or 215 854 5194.

Joseph N. DiStefano
Also on
letter icon Newsletter