“Top lobbyists for the banking industry were gathered in a war council. The Obama administration had proposed big changes in financial industry oversight, including a consumer protection commission and regulation of some executives’ paychecks. The lobbyists listened to presentations from big Washington public affairs firms ready to deploy arsenals including television commercials and direct-mail campaigns. But at the end of the meeting, the lobbyists publicly opted to emphasize, if with caveats, their industry’s backing of President Obama’s broader call for reform.” (New York Times, Tuesday)

Corporate lobbyists’ motto: Get in early and cut your deal.

FEE Timely Classic
“Government Regulation and Business Management” by John Semmens