The U.S. Chamber in the news - August 21

Posted by Dorry Samuels on August 21, 2012

Mayors oppose new money market fund restrictions

A group including nine big-city mayors organized by the U.S. Chamber of Commerce came out on Monday against additional rules for money market mutual funds, ahead of a key regulatory vote like later this month.

The U.S. Securities and Exchange Commission is expected to vote on August 29 on a proposal aimed at bolstering the $2.4 trillion money fund industry, which suffered from a run of customer withdrawals at the height of the 2008 financial crisis. If approved, the proposal would be issued for public comment.

U.S. Business Groups Oppose 'Congo' Rule

U.S. market regulators are targeting violence in central Africa and corruption in oil-rich nations, moving ahead with a vote on rules that businesses say could cost U.S.-listed companies billions of dollars annually.

In a letter last month, the U.S. Chamber of Commerce asked the SEC to repropose the rule, saying the regulator hadn't analyzed the costs to the small suppliers to companies that are subject to the rule.

Is Missouri's Todd Akin ready for prime-time politics?

The current senator, Democrat Claire McCaskill, was seen as vulnerable, and conservatives have been pumping cash and organizing might into the race for a year now. The official Republican party was bolstered by millions in spending by outside groups such as Karl Rove's Crossroads GPS and the Koch brothers' Americans for Prosperity and the U.S. Chamber of Commerce.

Local view: Romney and other rich people receive special tax treatment

In addition to the individuals in the 1 percent, there are roughly 300 corporations that exercise disproportionate influence and make up lobbying groups like the U.S. Chamber of Commerce and the Business Roundtable.

Very wealthy people in our democracy seem to have undue influence on governmental actions. Does that fly in the face of “equal opportunity for all?” I sincerely believe it does.

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The surprising answer from Google on its membership in the U.S. Chamber of Commerce

It can be hard to get a big corporation to go on record about anything – much less something controversial.

That’s why I was pleasantly surprised by the answer I got at Google’s annual shareholder meeting when I asked cofounder Larry Page why the company is a member of the U.S. Chamber of Commerce, an organization that has publicly opposed many of Google’s positions and interests.

After receiving applause for my question, Google’s head lawyer David Drummond – who was helping Page to answer questions – responded that the company’s membership in the U.S. Chamber is something senior leadership debates a lot. He added that while there are some things that the U.S. Chamber is good for, there is a lot of stuff it does that Google doesn’t agree with.

He concluded by saying that, “while we are members for now, it’s something that we do review.”

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Google should disclose its political spending and leave the U.S. Chamber of Commerce

You can Google anything right?

Well, try going to the search engine and entering “Google’s political spending.”

You’ll get something like this:

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