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May 24, 2013

Citigroup Lobbyists Help Write House Bill to Deregulate Trading 
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The New York Times has revealed lobbyists from Citigroup essentially
wrote a recent bill approved by the House Financial Services Committee
that would exempt broad swathes of trades from new regulation. According
to the paper, Citigroup’s recommendations were reflected in more than
70 lines of the House committee’s 85-line bill. Two crucial
paragraphs, prepared by Citigroup in conjunction with other Wall Street
banks, were copied nearly word for word.

 

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