The conclusions will probably come as a surprise exactly none of you, but a new study from the International Monetary Fund on the influence of campaign donations and lobbying politics is worth a mention because of the completeness of the research and the authority of its source. Two IMF economists, Deniz Igan and Prachi Mishra, have been examining how the targeted political activities of financial corporations between 1999 and 2006 affected how Congress voted on bills that strengthened or loosened regulation of Wall Street leading up to the 2008 crisis. They found -- surprise! -- that the more the corporations spent on campaign donations and lobbying, the more likely Congress was to vote in favor of deregulation. Furthermore, they found that the money Wall Street spent on lobbying members of Congress who were connected to Wall Street, either from having worked there in the past or through a former staff member who had gone through the revolving door to K Street, had a much stronger effect on their voting than on those who had no Wall Street connectionsRead Full Article
Freshman Democratic Sen. Michael Bennet [D, CO] has joined a handful of his Senate colleagues in the effort to reform the filibuster. The filibuster has long been used by both parties when they were in the minority to prevent the Senate from acting on certain measures. But starting with the 110th Congress, when Democrats took control of the House and Senate, the number of filibusters launched by the GOP has skyrocketed to historic levels.
Bennet last week introduced a Senate resolution (S.Res.440) that would not only limit a senator's ability to place anonymous holds, but would also make it easier for a majority party to break a filibuster. The Huffington Post's Sam Stein explains the rather byzantine way Bennet's resolution works:Read Full Article