You Only Need To Know Three Words To Be A Wall Street Lobbyist

Tim PawlentyTim Pawlenty, head of the Financial Services Roundtable

Photo: Getty

Usually, Wall Street’s top lobbyist are chosen from the creme de la creme of business and politics, so if that’s any indication, the job requires considerable talent.According to a quick blog post from DC non-profit Public Citizen, however, you actually only need three magic words to do the job — “innovation”, “complexity” and “liquidity” (h/t Politico’s Ben White).

Here’s how you can do it. Three examples:

Reformers say: “Wall Street behaved relatively well until 1999, when Congress repealed the 1933 Glass-Steagall law separating commercial and investment banking and commerce.”

You say: “Financial innovation overran the anachronism of Glass-Steagall. Today’s economy isn’t your father’s Buick.”

Reformers say: “Derivatives that were intended to manage risk actually magnified it through such products as credit default swaps.”

You say: “Derivatives are highly complex. Congressional efforts to address this arena will have unintended consequences and disadvantage American firms who must compete in the global arena.”

Reformers say: “Banks shouldn’t be gambling, but return to sound lending that serves Main Street. We need the Volcker Rule, which prohibits gambling.”

You say: “The Volcker Rule will threaten needed liquidity.”

Public Citizen invites you to mix and match these words to maximise their potential.

No too hard right?

For the full post head to CitizenVox>

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