Wall Street Scrambles on STOCK Act
A veteran GOP lobbyist watching the disclosure battle emails to note that Wall Street lobbyists, who were asleep at the switch before the provision passed, are now jammed up.
"Wall Street firms (are) up in arms over the political intelligence section but the more they squawk publicly, the more difficult it is for House Republicans to risk being seen as 'weakening' the bill ... for dreaded Wall Street," the lobbyist emails the Alley. "It is not yet clear whether congressional Democrats will provide any political cover for the needed changes - some changes are needed just to make the current bill work as intended, others to get the language to better reflect intent of the authors -- and, no certainty that the White House won't attack the House Republicans for making changes even if privately the Treasury and others have admitted revisions are necessary."
Which is all to say that it's going to be extremely difficult to undo Grassley's disclosure requirements.
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