Special interest groups

Special interest groups

Cry Wolf Quotes

In 1989, sympathetic members of Congress got the Home Mortgage Disclosure Act amended to force banks to collect racial data on mortgage applicants; this allowed various studies to be ginned up that seemed to validate the original accusation… bank regulators required the loosened underwriting standards, with approval by politicians and the chattering class. A 1995 strengthening of the Community Reinvestment Act required banks to find ways to provide mortgages to their poorer communities. It also let community activists intervene at yearly bank reviews, shaking the banks down for large pots of money.

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Stan Liebovitz, New York Post.

Well, that didn't take long. Democrats are planning to kick off the legislative portion of the 111th Congress as early as today with two big donations to one of their most loyal retainers: the plaintiffs bar….For the tort bar, this is pure gold. It would create a new legal business in digging up ancient workplace grievances…. Elections have consequences, and one price of November's vote is going to be a more powerful, and much richer, plaintiffs bar.

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From the Wall Street Journal's “Trial Lawyer Bonanza: Off and suing with the 111th Congress."

OPA 90 -- virtually everyone affected, except the environmentalists, think it is as the 'Rocky Horror Picture Show.' Congress crafted it in an emotional bonfire, which was ignited by the massive spill at Valdez.

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Joe Farrell, president of the American Waterways Operators, United Press International.

Prior to the passage of this legislation [the OSH Act], certain special-interest groups (i.e. unions) testifying in support of punitive legislation attempted to describe American business management as irresponsible and unsympathetic to safety on the job….We continue to maintain that standard setting should be carried out by an independent board of experts who are not subject to the pressures of special-interest groups.

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Richard B. Berman, Chamber of Commerce, Testimony, the Select Subcommittee on Labor of the House Committee on Education and Labor.