Tighter Financial Restrictions Get Friction From Lobbyists

This article is about the huge wave a of lobbyist groups trying to weaken of kill altogether the bill to overhaul regulations on the financial industry. Groups ranging from pro - business groups, to Wall Street, to United States Chamber of Commerce are spending money trying to kill the bill. Many groups have begun portraying the bill as government bailouts. This article goes all the way back to our first few lectures about market failure. This article is a reminder that lobbying can make a market failure worse instead of better. Furthermore, this article takes a look at how personal political interests can affect the way our economy operates. Finally, if this bill is passed it could change some of the ways our economic system currently operates.

I would also like to point out that some of the attacks call Obama a socialist in order to prove their point, a fact that is clearly not true.