Thursday, September 20, 2012

Tim Pawlenty Goes Into Total Crony Mode and Grabs Bankster Dollars

Former Republican presidential hopeful Tim Pawlenty will become the head of the Financial Services Roundtable, a U.S. bank lobbying group that represents JP Morgan Chase & Co and Wells Fargo & Co, among other financial companies, the group said on Thursday.

As the industry's top lobbyist, he will play a major role in the industry's efforts to make new Dodd-Frank rules, which Congress passed in 2010 in response to the 2007-2009 financial crisis, more favorable for Wall Street as regulators implement the law, reports Reuters.

"Few industries have more impact on the entire economy - and on the lives of average Americans - than financial services. I realize there is still work to be done to continue to earn customers' confidence," Pawlenty said in the statement.

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