Wall Street

New Dems Met With Wall St. Execs While Pushing to Weaken Financial Reform

Zachary Roth | January 6, 2010, 12:45PM

New Democrat Coalition chair Rep. Joseph Crowley (D-NY)

A group of moderate Democrats held private meetings this fall with executives from Goldman Sachs and JP Morgan Chase, while in the midst of pushing successfully to water down landmark legislation designed to beef up regulation of the financial industry.

In mid October, members of the New Democrat Coalition (NDC), a caucus of pro-business Democrats, traveled to New York City. According to an emailed itinerary for the trip drawn up by an event planner working for the group and obtained by TPMmuckraker, members met on October 12 with executives from Goldman, and the following day with execs from JP Morgan. Sandwiched between those events was a fundraiser for the New Dems, and a meeting with CEOs from Marsh and McLellan Companies, a consulting and insurance firm.

[SEE THE ITINERARY EMAIL HERE. SEE AN INVITATION FOR THE FUNDRAISER HERE]

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