Obama Wall Street:buck up support for an overhaul of financial regulation
Economic Financial Market News Today about President Obama hope to Wall Street.From CNN News that the President Obama wants Wall Street’s help, but pay packages keep on rising. the President Obama administration is trying to buck up support for an overhaul of financial regulation. The Democrats have so far had no success winning Republican support for all of their financial reform proposals. They need at least one Republican vote to avoid a filibuster in the Senate.More partisan clashes look inevitable. Both Republican SEC commissioners reportedly voted against bringing the Goldman case, for instance, and Rep. Darrell Issa, (R-Calif.) this week demanded the SEC reveal any case-related dealings with Democrats in the administration or Congress. The banks aren’t the only big spenders. The U.S. Chamber of Commerce spent nearly $31 million lobbying in the first quarter, according to federal filings compiled by the Center for Responsive Politics. The biggest spender among public companies was General Electric (GE, Fortune 500), with $7 million.
