Due to your 401K going poof and a potential worldwide economic collapse, large banking conglomerates are rightfully concerned about that you don't feel enough sympathy for them. That's why they've hired a bunch of skeezy politico types to boost their public image. Bloomberg has the scoop:
The internal papers call for using regional securities firms, many of which have escaped notoriety in the financial crisis, to push the industry’s message with their local members of Congress. The plan notes that brokers across the country can also be used.Not sure why they feel like they have to lobby congress to be on their side, because both a Democrat and a Republican administration have printed enough money to make Mugabe blush in order to save these bumbling boneheads... and we just sat back and took it! Maybe they're trying for a more aggressive approach whereby anyone who speaks ill of the cronyism between DC and Wall Street gets put on some DHS watchlist.
“The foot power of the private client group has proven to be effective in blunting populist messages in the past,” said board member Paul Purcell, chief executive officer of Milwaukee investment firm Robert W. Baird & Co., according to the minutes of one meeting.