As the financial reform bill makes its way through Congress and the tug of war continues between the proponents and opponents of greater regulation, a nonpartisan consumer advocacy organization has released a report that details the Washington lobbying efforts of the financial industry.
According to the report, the Senate Banking committee members received $41 million in contributions since 2005, and representatives of Wall Street banks and investment firms spent $336 million lobbying Congress in the first three quarters of 2009.
Those who received the highest contributions during 2005-2009 included Democratic Senator Chris Dodd of Connecticut ($9 million), while the top grossing Republican was Senator Bob Corker of Tennessee, who netted more than $2.5 million.
Among the biggest contributors were the American Bankers Association ($1.26 million), Citigroup and Morgan Stanley, both of which donated more than $400,000.
The report also found that contributors in particular opposed the creation of The Consumer Financial Protection Agency (CFPA), preferring the authority to remain with the current regulators who failed to prevent abuses such as predatory mortgage lending that led to the near-economic collapse, according to Consumer Watchdog.
"To ordinary voters, this flood of dollars looks like Wall Street buying votes," said Carmen Balber, Washington director for organization.
"The fate of an independent consumer regulator is a test of whether politicians will rise above financial industry influence to enact meaningful regulatory reform that directly aids ordinary Americans," she concluded. 
The administration’s decision to hold the 9/11 terrorism trial in New York City has met with much criticism over the last few months, but when the mayor of an impoverished upstate town invited the trial to be relocated there, the proposal did not satisfy everyone. 
Penn State University officials have cleared climate researcher Michael Mann of concealing information, falsifying data and misusing confidential information, following an investigation into the unauthorized release of more than 1,000 private emails that brought into question current global warming science. 
While speaking at a town hall meeting in New Hampshire last week, President Obama acknowledged that it is conceivable that an energy bill may be approved in the Senate without the cap-and-trade component that he has been pushing since taking office last year. 
While speaking at a Democratic policy committee conference last week, President Obama urged Senate Democrats to stay aggressive and press ahead with their legislative agenda. He also took several shots at Republican lawmakers, stating that they have been unwilling to compromise and have been impeding progress. 
White House Chief of Staff Rahm Emanuel has been in the news lately with some progressives calling for his dismissal and blaming him for trying to accommodate the conservatives. However, a new revelation has railed some GOP members. 
Appearing before the Senate Armed Services Committee last week, the nation’s top military and civilian leaders argued for a repeal of the 1993 Act of Congress that banned openly gay and lesbian Americans from serving in the military. 
At a Senate Armed Services Committee hearing on Tuesday, Defense Secretary Robert Gates declined to say whether he agrees with Attorney General Eric Holder’s prosecution strategy of trying self-proclaimed 9/11 mastermind Khalid Sheikh Mohammed in a civilian court in New York City. 
A new study has found that an extract from green tea may be a useful treatment for uterine fibroids, a condition that affects 40 percent of women of reproductive age, commonly causing vaginal bleeding, anemia and fatigue. 
The Republican Party response to President Obama’s State of the Union address, given by Virginia Governor Bob McConnell last week criticized the current administration’s policies regarding the economy, healthcare reform and unemployment. 
Although the climate summit in Copenhagen took place in December, it has recently emerged that the large congressional delegation headed by Nancy Pelosi charged taxpayers some $1 million for the trip. 
A recent study suggests that the consumption of blueberries can improve memory in older adults and may offer an alternative treatment for cognitive decline. 
To help subsidize the $3.8 trillion proposed budget for fiscal year 2011, President Obama will increase taxes on some businesses and upper-income households by nearly $2 trillion during the next decade, a plan that will still leave the nation with $8.5 trillion in added debt in 2020, The Wall Street Journal reports. 
Last Wednesday’s State of the Union speech was more than an hour long, but President Obama devoted only one sentence to immigration, promising to fix a "broken" system by securing borders and enforcing the laws. For both opponents and proponents of immigration, this was not nearly enough. 
Four men have been arrested and charged by the FBI with trying to wiretap the phones in the New Orleans office of Democratic Senator Mary Landrieu, according to media reports. 
According to a recent study, a naturally occurring steroid found in pomegranate seed extract may be able to stimulate uterine contractions and could help women who experience difficulty during labor. 
On Monday, President Obama sent his $3.8 trillion budget to Congress for fiscal year 2011, a plan that will add $1.3 trillion to the already ballooning deficit. 
According to a recent study, women who regularly practice yoga can reduce inflammation that is commonly associated with normal aging and stress. 
House Minority Leader John Boehner said last week that Republican leaders are determined to prevent suspected terrorists from being tried in a civilian court in New York City. 
During his first State of the Union address on Jan. 27, President Obama said he will push for overturning the ban on openly gay people serving in the military. But his former rival John McCain criticized the proposal. 