World

Big bank chiefs laugh about their government connections in Congress (VIDEO) — RT World News


The heads of America’s biggest banks welcomed a congressional staffer into their ranks in a public hearing.

Despite his role in overseeing America’s most powerful financial institutions, Representative of Indiana, Trey Hollingsworth, publicly asked Bank of America CEO Brian Moynihan “take care” one of his employees left to work at the company. Critics say the exchange highlighted “revolving door” between Washington and Wall Street.

Speaking at a House Financial Services Committee hearing on Wednesday, in which the heads of America’s four largest banks were said to be suffering from rising inflation and the state of the economy. , Hollingsworth asked Moynihan for help.

Announcing that one of his aides, Sruthi Prabhu, would be leaving the office on Monday to work with Bank of America, Hollingsworth, a Republican, requested Moynihan. “Please take good care of her and know and recognize the talent she has shown in our office.”

“We’ll do it,” Moynihan replied, adding: “Her father worked for us.”

“You should give us a call,” satirizes another banker, who cannot be seen on camera, as the group laughs.

Walter Shaub of the Government Oversight Project describe scene like “Absolutely Wild” Add that “Anyone who says Washington’s revolving doors don’t matter is lying or not spending much time with the people who work on the Hill.”

“I was in the room when this happened,” Democrat Representative Alexandria Ocasio-Cortez Written on Twitter, “And it’s just as raw and wild as itself here.”

Duration “revolving door” not a new relationship, but the cozy relationship between Washington and Wall Street has come under close scrutiny in the aftermath of the 2008 financial crisis. disclosure in 2016, Citigroup selected Barack Obama’s cabinet in 2008, and Citizens calculate in 2010, the banking industry sent more than 1,400 former government employees back to Washington as lobbyists in the previous two years.

A businessman before entering politics, Hollingsworth was the ninth-richest member of Congress. While he spent a fortune of his own to fund his 2016 campaign, he take it over $450,000 in contributions from the insurance, securities, banking and credit industries in his 2018 campaign.

You can share this story on social media:





Source link

news7d

News 7D: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button