Wall Street Writes Bills, DC Passes Them

In a stunning sign of the political resurgence of bankers, Wall Street lobbyists not only have the ear of lawmakers, they have their pens as well. 

Rather than leaving it to members of Congress to draft legislation that softens financial regulations, bank lobbyists are helping to write it themselves, emails reviewed by The New York Times show. One bill that sailed through the House Financial Services Committee this month was essentially written by lobbyists for giant Citigroup.