Obamacare, Financial Reform: Cash Cows for Lobbyists

Thursday, 17 Mar 2011 03:00 PM

By Dan Weil

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Since his 2008 campaign, President Barack Obama has spoken out strongly against the influence of lobbyists. But the healthcare and financial reform bills he signed are lining the pockets of K Street – with cash, Politico reports.

Regulators are now coming up with the specific rules for each reform, and that means a lot of business for lobbying groups who are assisting companies in their effort to influence and obey the new stipulations.

“A lot of people did very well in the lobby community off the Recovery Act,” Democratic lobbyist Rich Gold told Politico, referring to the 2009 fiscal stimulus package. “Regulatory work is the new Recovery Act for lawyers and lobbyists in Washington.”

Former Rep. Ron Klein, D-Fla., said there is “no question” that the hefty quantity of regulatory work helped lead him to join Holland & Knight law/lobbying firm.




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