The Guardian’s Chris McGreal has identified one group of opponents:
America’s major banks are pouring millions of dollars into an apparently successful attempt to weaken Barack Obama’s finance reform bill, currently stalled in Congress by Republican opposition.
In the face of deep public anger over the financial crisis and government bailouts, banks have flooded Congress with lobbyists seeking to curtail key parts of the sweeping regulatory bill – such as provisions to create an office for consumer protection and more strongly regulate the vast derivatives market.
Well, well, well. Wonders will never cease.