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Since the “Gang of Six” in the Senate Finance Committee worked out so well, and produced such outstanding results (sarc) in writing health care reform legislation, why not just repeat the process in the Senate Banking Committee as they tackle reforming the financial industry? More openness and transparency from our elected officials in Washington:

“For two months, four pairs of Senate Banking Committee members — each with one Democrat and one Republican — have been meeting behind closed doors to reach a bipartisan compromise on regulatory reform.”

Here are the 8 senators involved, along with the amounts each has taken from financial industry PACs:

Chris Dodd, (D-CT) $3,124,237
Richard Shelby (R-AL) $2,171,369
Mark Warner (D-VA) $330,800
Bob Corker (R-TN) $426,750
Jack Reed (D-RI) $1,554,449
Judd Gregg (R-NH) $709,941
Chuck Schumer (D-NY) $1,629,295
Micheal Crapo (R-ID) $1,237,955

That’s a grand total of $11,184,796. And these are the people who are going to reform the financial system? That’ll be the day. But as good as things are for this new “Gang of Eight.” they’re about to get better:

“…the president’s new proposals have already provoked a sharp increase in the volume and energy of the lobbying on regulatory reform, with more chief executives stepping over their government relations staff to request personal meetings with lawmakers. The big banks, the lobbyists say, have become increasingly alarmed that the legislative process may move in unexpected directions outside their control.”

Well, we certainly have to put a stop to that. Can’t have anything going on that the banksters can’t “control,” can we? Speaking of banksters:

“...Jamie Dimon, chief executive of JPMorgan Chase had lunch with Mr. Obama last Tuesday, and then met separately on Friday with the Federal Reserve chairman Ben Bernanke and the Treasury secretary, Timothy Geithner.”

No doubt to discuss who they like in Sunday’s Super Bowl.