News

Senate Republicans Vote With the Money; Wall Street Wins Over Car Dealers
Emily Calhoun | May 24, 2010
May 24, 2010 - A look at the campaign contributions to Senate Republicans from both groups over the last few election cycles might explain why the auto dealer exemption didn't make it off the lot.
States’ Rights to Cap Interest Rates Defeated by Senators Receiving Money from Banks and Credit Industry
Emily Calhoun | May 20, 2010
May 20, 2010 - On Wednesday, May 19, the Senate defeated an amendment introduced by Sheldon Whitehouse (D-RI) that would "restore to the states the right to protect consumers from usurious lenders." Senators opposing the amendment received 129% more money from banks and credit institutions, such as American Express, Moneytree International and Ace Cash Express, that would be negatively impacted by the measure.
Senate Blocked From Final Vote on S 3217: the Restoring American Financial Stability Act of 2010
admin | May 19, 2010
May 19, 2010 - The Senate was blocked Wednesday afternoon from moving to a final vote on financial regulatory reform. Senators voting to proceed received 28% less money from industries opposing the bill than those wanting the debate to continue.
Republicans Supporting Stricter Loan Origination Rules Receive Half as Much Money from Mortgage Brokers
Emily Calhoun |
May 13, 2010 - Five Senate Republicans crossed party lines to support a Wall Street Reform measure to reign in predatory loan practices; on average they received half as much money from the mortgage brokerage industry than the Republicans who opposed the measure.
Senate votes to Audit the Fed
Emily Calhoun |
May 12, 2010 - Yesterday's Senate floor debate on Wall Street Reform began with votes on two amendments related to auditing the Federal Reserve. Commercial banks and bank holding companies have contributed millions of dollars to Senate and House campaigns. Because these banks have spread their money to supporters and opponents alike, there was no significant correlation on the Vitter amendment between Senators' votes and the amount of money they received from these banks.
Wall Street Reform: SAFE Banking Act Fails
Emily Calhoun |
May 10, 2010 - Despite bipartisan support, an amendment to break up the six largest banks failed. On average, contributions from the six largest banks that would have been affected by this amendment made 2004-2009 to Senate Democrats who voted to defeat the measure were $85,496, 70% more than the $50,241 average contributions to those who supported the Brown-Kaufman amendment.
Industry Channels Money to Senators Voting to Keep the Banks Big
Jeffrey ErnstFriedman |
May 6, 2010 - Finding out positions on major legislation before a vote sometimes requires the tried and true method of picking up the phone and asking. The blog A New Way Forward, a group in favor of restricting the size of financial institutions, is conducting a whip count of Senators ahead of an amendment to the financial regulations bill that would restrict just how big, big banks can get. Our friends at OpenSecrets.org have provided ANWF with some figures showing how much the banks favor Senators voting to keep the banks together.Check out the post here.
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