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National Journal's Under the Influence

EARLYBIRD

Monday, September 28, 2009

From this morning's Earlybird:

• "Wall Street has showered nearly $11 million on the Senate since the beginning of the year, and more than 15 percent of it has gone to a single senator: Democrat Chuck Schumer of New York," Politico reports. "Schumer's $1.65 million take from the financial services industry is nearly twice that of any other senator's -- and more than five times what the industry gave to any single Republican senator."

• "The trial lawyers lobby has been awash in debt and bleeding members - just as it embarks on a national campaign to block any clampdown on medical malpractice lawsuits as part of President Obama's health care overhaul," the Washington Times reports.

• "Lobbying over a proposed federal agency to regulate consumer financial products will get more intense now that lawmakers have scaled back the Obama administration's proposal," The Hill reports. "Rep. Barney Frank (D-Mass.) released a new draft of the proposal for a Consumer Financial Protection Agency (CFPA) that limits the scope and breadth of the industries that are covered. Frank, chairman of the House Financial Services Committee, restricted several provisions to dampen criticism from the non-financial lobbyists opposed to the bill and to win over centrist Democrats... Frank and the Obama administration believe the new agency should set a floor for regulation and allow state officials to pursue additional or stricter regulations."

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