US Chamber of Commerce Coordinating Wall Street’s Stealth Lobbying Campaign To Kill Reform

On Thursday, President Obama announced his commitment to pass sweeping legislation to reform Wall Street and to create a new regulatory structure meant to avert another economic crisis. However, the financial industry is fighting back, hoping to obstruct legislation, water down the bill, and possibly kill effective reform.

The legislative battle is multifaceted. Frank Luntz, a consultant who is paid by financial services firms, wrote a messaging memo now used by opponents of reform to confuse the public and smear the legislation. As Talking Points Memo revealed earlier this week, a K Street PR firm known as the DCI Group — with ties to Wall Street — is working with a front group to run ads against reform. And recently, Republicans have met with top bankers and representatives from the banking industry to trade campaign dollars for a promise to fight reform.

rest http://thinkprogress.org/2010/04/24/stealth-chamber-banks/