Should Dodd-Frank be overturned, the financial industry stands to make (with government backing, of course) a ton of money. It’s unsurprising that its repeal has become a centerpiece of the 2012 campaign, with Wall Street donating far more to candidates who want to overturn or weaken the law. What is surprising is how brazen they’ve gotten.
Today, the board of directors of the American Bankers Association, a lobbying group representing over 5,000 banks, will vote on whether to create a nonprofit to advance its political lobbying. Most outlets expect the ABA board to approve the initiative.
