Congress Daily reports today that the Consumer Financial Protection Agency (CFPA), faces another serious challenge and this time from Wisconsin. Milwaukee Rep. Gwen Moore, D-Wis., appears close to getting her amendment adopted to exclude providers of credit insurance from regulation by the CFPA.
Politico is reporting that the financial services industry has lost about 600 registered lobbyists this year with the economic meltdown. But, the amount of money being spent on financial services lobbying is actually up from last year. So in general, the remaining bank lobbyists are actually making more money now, despite the crashed economy!
In 2008, before the bank failures, less money was being spent lobbying Congress but, astonishingly, this year after taxpayer funds were used to bailout the banks they are spending more money lobbying the federal government. Here is a clip from Politico's report:
Submitted by Bob Burton on
Dick Armey, who was the Republican Majority Leader of the U.S. House of Representatives between 1995 to 2002, has been doing well for himself as the Chairman of FreedomWorks, a conservative lobby group. Meredith Simons reports that, according to the group's tax filings for 2008, Armey was paid $550,000. “I don't apologize for my paycheck. I'd like to think I'm worth it," he said.
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