“It’s only November, but if Wall Street gets its way, Christmas could come early for the industry. That’s because its army of lobbyists are already hard at work, trying to hijack the appropriations process as a vehicle to enact its deregulatory wish list. Wall Street is essentially holding national priorities like health care, the environment and education hostage until members of Congress agree to put the industry’s narrow special interests before the interests of the American people.
“A key priority for Wall Street this time around is eviscerating one of the most important institutions established under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Financial Stability Oversight Council. This Council is our nation’s only early warning system for the threats posted by systemically significant nonbank financial firms like insurance giant AIG, which the government and taxpayers were forced to rescue during the 2008 financial crash.”
Read the full Bill Moyers & Company Op-ed by Dennis Kelleher here.