"Regulatory Capture"

The Washington Post reports that

"Despite frosty relations with the titans of Wall Street, President Obama has still managed to raise far more money this year from the financial and banking sector than Mitt Romney or any other Republican presidential candidate, according to new fundraising data."

TigerHawk, who works on Wall Street, thinks he knows why: "regulatory capture." He writes:

At this point, Wall Streeters really do not like Barack Obama. It has been a long time since I have met one who still actually supports him. But the extent of the pain of Dodd-Frank depends on regulations that have yet to be written by executive branch agencies that report to the White House. The big financial firms know that their future profitability requires that President Obama influence those regulations, and he is exploiting that for all it is worth.

This, loyal readers, is "regulatory capture" in action.

The TigerHawk link: http://tigerhawk.blogspot.com/

The WaPo link: http://www.washingtonpost.com/politics/obama-has-more-cash-from-financial-sector-than-gop-hopefuls-combined-data-show/2011/10/18/gIQAX4rAyL_story.html?hpid=z1