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As Congress Goes on Break, Health Lobbying Heats Up

Wall Street Journal Original article ›

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The perverse effects of lobbying in damaging the public interest.

04/10/2009

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

Making Banking Boring

New York Times 04/10/2009

Finance Lobby Cut Spending as Feds Targeted Wall Street

Wall Street Journal 07/02/2009

Costs and Benefits

New York Times 07/20/2009

Sharks Circle in Congress

New York Times 07/20/2009

Doctors' Payments Snag Health Bill

Wall Street Journal 07/20/2009


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