Find us on:
The U.S. Chamber in the news - August 21
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. 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.
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.
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.