Wall Street Pushes Back at Dodd-Frank & Obama

  • Goldman Sachs is attempting to persuade lawmakers into exempting credit funds from Volcker regulation. 
  • Volcker rule limits a firms total investment in hedge and private equity ventures to 3% of capital.
  • Credit funds provide loans to companies in need of capital that cannot otherwise achieve terms. 
  • Wall Street has spent $330 million on lobbying (GS $8.3 million) since Dodd-Frank passed. 
  • A trend has shifted Wall Street support from Obama to Romney, with donations pouring in support of amiable regulation of the finance industry.