From: Center for Media and Democracy [mailto:[email protected]] Sent: Thursday, November 12, 2009 4:08 PM Subject: Scott Talbott is a top lobbyist for Financial Services Roundtable 100 Banks to stop any reform to save the taxpayers from being looted
<http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=YZd7q53HHfTVxH9EArgz eDTTy5P8QP14> Image removed by sender. The Center for Media and Democracy -- PR Watch.org Image removed by sender. PRESS RELEASE: November 12, 2009 CONTACT: Mary Bottari at (608) 260-9713 or [email protected] "Golden Throne" Award Presented to Scott Talbott of the Financial Services Roundtable Image removed by sender. Scott Talbott - Golden Throne Recipient The Center for <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=vHSTMrML5hmB%2BQAVs5 uQ2jTTy5P8QP14> Media and Democracy and BanksterUSA <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=kyg8fSh5VkXmbT%2FUAO dfCzTTy5P8QP14> are pleased to present a Golden Throne Award to Scott E. Talbott <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=pe9HqUoYzL1bMSCEKygP HTTTy5P8QP14> , the Senior Vice President for Government Affairs at the Financial Services Roundtable <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=%2BfO9re7hyWSjmXIyIt U9ZzTTy5P8QP14> . The Golden Throne Award salutes the behind-the-scenes lobbyists and spinmeisters of the financial services sector who have done their utmost to hold off any meaningful reform of their industry, even after collapsing the global economy and sending the U.S. unemployment rate above 10%. It invokes fond memories of the $1.2 million office renovation - with its $35,000 commode - ordered by Merrill Lynch's CEO, John Thain, shortly before the firm lost $27 billion and was rescued from extinction by Bank of America <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=FmC84umY5a3bsEyySB3D 2zTTy5P8QP14> . Scott E. Talbott <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=LjllpCUeDdgBK0%2BSNj %2FeJzTTy5P8QP14> is a top lobbyist for the Financial Services Roundtable. The Roundtable lobbies on behalf of 100 of the top banks, credit card companies, insurance and securities firms operating in the United States. Its membership includes many bailed-out banks including: Citigroup <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=3p35h7Nq%2B73SsRhc23 xSzDTTy5P8QP14> , JPMorgan Chase <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=HLT0t4N7Hr%2BUp0OXYU B09DTVIjI%2Bmkod> , Bank of America <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=%2FIA6ulDjNk8SI%2BoK wwFCqTTTy5P8QP14> , Wells Fargo <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=q3gJaFLEU38J5mDi2N5y hDTTy5P8QP14> , and PNC Financial <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=gpyLU9i5MbKXR%2F%2FX llBexDTVIjI%2Bmkod> Services Group. "Few have done more to earn this place of honor. Through his work in the Financial Services Roundtable, Scott Talbott has been an influential advocate for the special rights and privileges enjoyed by the American Bankster," said Mary Bottari of BanksterUSA <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=8djcJ4CoWK9n6asSnaaW njTTy5P8QP14> . The Financial Services Roundtable traces it roots back to 1912 when it was called the Association of Reserve City Bankers. It represented banks until the November 12, 1999 repeal of the depression-era Glass-Steagall Act <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=2L2tEXkv49y0%2FF28HV 5MzjTTy5P8QP14> . This repeal, 10 years ago today, tore down the fire walls between commercial banking, insurance and investment banking and created mammoth "too big to fail" firms. After fighting for the repeal of Glass-Steagall, the Roundtable transformed itself to also represent the largest securities, investment and insurance firms. Today the Roundtable is a powerful force against financial services reform in Congress and represents many of the largest bailed-out firms and financial institutions from around the globe including France's AXA, London's Barclays, Switzerland's UBS and Germany's Allianz. Click here <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=2tp%2BcWyu%2BiW9k4ch etqLITTTy5P8QP14> to see its members. Talbott's Lobbying Talbott views his role as an important, even historic, one. "Washington is making changes that will affect the industry for the next 100 years, so we're seeing a lot more interest from the C-suite. And our role is now more important than ever, because we're in uncharted territory," he told an admiring reporter <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=DX5Kg2oSdnykp0uQqUp6 RjTTy5P8QP14> who detailed his day including his 3:30 a.m. workout and his 1,000 calls. According to the report, Talbott is one of the few, the proud and the brave: "As finance lobbyists gird for one of their biggest battles, their ranks are growing thin. Slightly fewer than 2,600 people are now making the case for U.S. banks, insurers and investment shops - 300 fewer than last year." These few brave souls appear to be making quite the salary. According to Common Cause <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=PC8twRmZZZh%2F7okGcd U7HjTTy5P8QP14> , commercial banks, finance and credit card companies spent nearly $42 million on lobbying during the first six months of 2009, about $1.6 million a week. According to the Center for Responsive Politics <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=BuWYSKBT%2B9RHDTqMC8 HPZDTTy5P8QP14> , Talbott's group, the Financial Services Roundtable, has spent $5.1 million on lobbying so far in 2009. These recent efforts include undermining caps on executive compensation, fighting transparency requirements for risky derivatives trading, destroying various bills to help families facing foreclosure, preventing caps on credit card interest rates and bank fees, and of course leading the fight to kill the Obama administration's signature pro-consumer reform - a Consumer <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=GNy7KRQx%2Fyr%2BpDL% 2BJAnGAjTTy5P8QP14> Financial Protection Agency. Tidbits from Talbott Subtlety is not Talbott's strength. With regard to the Obama administration's landmark reform proposal, a Consumer <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=0ICGj%2FeIcGD4tUs91F Wu7DTVIjI%2Bmkod> Financial Protection Agency, Talbott told the American Banker publication, "Our goal will be to kill it, or make it the least-worst way to do the wrong thing." - American Banker, July 1, 2009. While appearing on C-Span to discuss the Consumer <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=4wKjjKQA5Jyc2NfTTBkx MTTTy5P8QP14> Financial Protection Agency, Talbott was asked what type of regulation the Roundtable would support. Talbott let slip, "We're not for any regulation." - The Wonk Room, July 8, 2009 <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=7ESJ8TmNfyxpJBptSpoe UTTVIjI%2Bmkod> . Oblivious to the fact that the "too big to fail" banks held disproportionate responsibility for the financial crisis, Talbott fought to shelter them: "We think that it's outrageous to disproportionately and unevenly impose the cost of new regulation on the top banks." The largest banks, he added, "should not be forced by the government to ... pay the larger share of the funding costs of the Consumer Financial Protection Agency and regulatory oversight." - The Washington Post, August 14, 2009 <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=mdB%2FW4xggDOfnzFwvb yVvzTTy5P8QP14> . As the Roundtable geared up to do battle against a bill to limit overdraft fees bank fees which amounted to $38 billion last year, Talbott showed his sympathy for recession-battered consumers: it's "unfortunate that low- and moderate-income Americans find themselves (using) overdraft services more often." - USA Today, July 9, 2009 <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=N4FijyXKsgtDgh4lXt85 OjTTy5P8QP14> . When Congress discussed placing limits on lobbying for bailed-out institutions so that taxpayer money would not be used to lobby the government for more funds, Talbott wrapped the lobbyists in the American flag: "Our concern is with the limitations and new restrictions on free speech and the constitutional right to petition your government." - The Hill, September 11, 2009. Opposing breaking up the biggest banks, Talbott romantically opined that big banks - just like people - dream the American dream: "They provide a number of benefits across the globe. We have a global economy, and these institutions can handle the finances of the world. They can also handle the finances of large, non-bank institutions like General Electric or Johnson & Johnson. They need these institutions [that] can handle the complex transactions. Simply breaking them up ... then you're discouraging a company from achieving the American Dream, working hard, earning money, producing products, and getting bigger." - The Baseline Scenario, October 12, 2009 <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=GAiOtZWJfatk%2BdYpre CFMzTTy5P8QP14> . Talbott predicted calamity if the results of bank "stress tests" were revealed to the public (which they were): "I'm worried about the overreaction - people selling every bank short and pulling out all their deposits and hiding their money in the mattress." - USA Today, April 24, 2009 <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=wSTSjxdCg43Ou%2FjlVB UVnDTTy5P8QP14> . Talbott successfully fought against executive pay restrictions proposed for the 2008 TARP bank bailout bill: "We support the bill, but we are opposed to provisions on executive pay," said Talbott. "It is not appropriate for government to be setting the salaries of executives." - New York Times, September 23, 2008 <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=RFGYEgwB1i%2BNeqR%2B Bz5o9TTTy5P8QP14> . On the same topic, Talbott told ABC News that bank executives might quit their jobs if they were only paid only $500,000 per year. "The pay scale for Wall Street is different for the pay scale for America ... I don't think the issue is a dollar amount. It's being paid what you're worth ..." - ABC News, February 4, 2009 <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=K6yyJGo6Sr%2FKpnCmDj txTTTTy5P8QP14> . Fighting to kill a bill which would allow people facing hardship to discharge student loan debt as part of bankruptcy proceedings, Talbott said forgiving student loans: "will increase the cost of tuition." - UPI, May 13, 2009 <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=xpu7Mg9VANTYSarGP8a8 xjTTy5P8QP14> . About Us BanksterUSA <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=Mo6aYX4AdTEidZwASaZz JzTTy5P8QP14> is a new project of the Wisconsin-based Center for Media and Democracy (CMD). CMD was founded in 1993 as an independent, non-profit, non-partisan, public interest group focusing on exposing corporate spin and government propaganda. CMD brought you the book "Weapons of Mass Deception" before the Bush team failed to find weapons in Iraq, and we exposed "Fake News" in the media and the "Pentagon Pundits" on cable news. With this new effort, we will debunk the spinmeisters of the powerful financial services industry and help ordinary Americans take positive action on the financial crisis and the real economy. CMD's first Golden Throne Award <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=sVF56eR6E7Kv588UEq9O QDTTy5P8QP14> went to lobbyist extraordinaire Edward Yingling <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=wh2VetKXp6rNmhgETRkR EDTTy5P8QP14> , of the American Bankers Association who, for over 30 years, has been a top lobbyist and front man for the banking industry. Image removed by sender. <http://salsa.democracyinaction.org/dia/track.jsp?v=2&c=a6O3nG0pVkotwQEqf1PM uzTTy5P8QP14> Click here to unsubscribe Center for Media and Democracy 520 University Avenue, Suite 227 Madison, Wisconsin 53703-4929 Phone: 608-260-9713 | Fax: 608-260-9714 E-mail: <mailto:[email protected]> [email protected] Image removed by sender. *** exposing the hidden truth for further educational research only *** CAVEAT LECTOR *** In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. NOTE: Some links may require cut and paste into your Internet Browser. Please check for daily real news posts and support the truth! (sorry but don't have time to email all posts) at <http://tinyurl.com/33c9yr> http://tinyurl.com/33c9yr or <http://groups.google.com/group/total_truth_sciences/topics?gvc=2> http://groups.google.com/group/total_truth_sciences/topics?gvc=2 ; You can also subscribe to the multiple daily emails by sending an email to <mailto:[email protected]> [email protected] ; free book download: <http://www.lulu.com/content/165077> http://www.lulu.com/content/165077 *** Revealing the hidden Truth For Educational & Further Research Purposes only. *** NOTICE: Due to Presidential Executive Orders, the National Security Agency (NSA) may have read emails without warning, warrant, or notice. They may do this without any judicial or legislative oversight. You have no recourse, nor protection.......... IF anyone other than the addressee of this e-mail is reading it, you are in violation of the 1st & 4th Amendments to the Constitution of the United States. Patriot Act 5 & H.R. 1955 Disclaimer Notice: This post & all my past & future posts represent parody & satire & are all intended for entertainment and amusement only. To be removed from the weekly list, please reply with the subject line "REMOVE" --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "total_truth_sciences" group. To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/total_truth_sciences -~----------~----~----~----~------~----~------~--~---
<<inline: image001.jpg>>
<<inline: image002.jpg>>
<<inline: image003.jpg>>
<<inline: image004.jpg>>
