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Finance industry lobbying, with $300 million alone spent to repeal the Glass Steagall Act which kept banks from getting involved in the securties business, is having the effect of making changes without the due diligence and care necessary for changing legislation that had deep reason embedded in experience during the Great Depression. Citigroup's failure is a result of its involvement in the securities business, and it was a principal backer for the repeal. Similar situation is playing out in the U.S. health-care area which has overtaken the finance industry in money spent for lobbying. Lobbying of this magnitude is having distortional effects on national priorities on necessary regulation, and on creating sustainable economical systems for health care in health care laws.
Grouped Articles
Banks' Lobbyists Help in Drafting Financial Bills
New York Times 05/23/2013
New York Times 04/10/2009
Finance Lobby Cut Spending as Feds Targeted Wall Street
Wall Street Journal 07/02/2009
New York Times 07/20/2009
New York Times 07/20/2009
Doctors' Payments Snag Health Bill
Wall Street Journal 07/20/2009
The influence on legislation and federal regulation that the pharmaceutical companies and industry associations are seeking, with $168 million spent on lobbying in 2006. As a result pricing of pharmaceutical products and healthcare services is the major unsolved problem in the U.S.
Grouped Articles
Wall Street Journal 06/25/2008
Health-Care Firms Have Supported Lawmakers Debating Reform
Washington Post 07/21/2009
Dana Milbank - Washington Sketch: GOP's Steele Couldn't Have Said It Better Himself
Washington Post 07/21/2009
Obama's Health Expert Gets Political
Wall Street Journal 07/24/2009
New York Times 08/02/2009
As Congress Goes on Break, Health Lobbying Heats Up
Wall Street Journal 08/05/2009
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