Tuesday, June 7, 2011

Wall Street Stuffs Barney Frank's Pockets Tonight

Heidi Moore at Markeplace reports:
Every morning, a Wall Street trade group called SIFMA sends out an email with the day's news. SIFMA is the Securities Industry and Financial Markets Association. It represents banks and trading firms. So it's no surprise that the email is usually heavy with critical news stories about financial reform laws, like the Dodd-Frank Act.

But tonight, SIFMA will be hosting a fundraising dinner for Democratic Congressman Barney Frank: yes, he's the Frank in Dodd-Frank. SIFMA members will pay $1,000 or more for a seat at the table. The deal here isn't hard to spot: Wall Street wants to bend Frank's ear.

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