financial institution chiefs snort about their executive connections in Congress (VIDEO)

The heads of America’s largest banks welcomed a Congressional staffer into their ranks all the way through a public listening to

Despite his function in overseeing america’ maximum tough monetary establishments, Indiana Representative Trey Hollingsworth publicly requested Bank of America CEO Brian Moynihan to “take care of” certainly one of his staffers leaving to paintings on the corporate. Critics say the alternate highlighted the “revolving door” between Washington and Wall Street.

Speaking at a House Financial Services Committee listening to on Wednesday, through which the heads of america’ 4 biggest banks had been meant to be grilled on emerging inflation and the state of the economic system, Hollingsworth requested Moynihan for a choose.

Announcing that certainly one of his aids, Sruthi Prabhu, would go away his place of business on Monday for a role with Bank of America, Hollingsworth, a Republican, requested Moynihan to “take good care of her and know and recognize the talent she has shown already in our office.”

“We will do that,” Moynihan spoke back, including: “Her father already works for us.”

“You should have called us,” quipped any other banker, who could not be noticed on digicam, as the gang laughed.

Walter Shaub of the Project on Government Oversight described the scene as “absolutely wild,” including that “anyone who says Washington’s revolving door isn’t a problem is either lying or hasn’t spent much time with folks working on the Hill.”

“I was in the room when this happened,” Democrat Representative Alexandria Ocasio-Cortez wrote on Twitter, “and it was just as gross and wild in person as it is here.”

The time period “revolving door” isn’t a brand new one, however the comfortable dating between Washington and Wall Street got here beneath intense scrutiny within the aftermath of the 2008 monetary disaster. Wikileaks revealed in 2016 that Citigroup hand-picked Barack Obama’s cupboard in 2008, and Public Citizen calculated in 2010 that the banking trade had despatched greater than 1,400 former executive workers again to Washington as lobbyists within the two years previously.

A businessman earlier than he entered politics, Hollingsworth is the ninth-richest member of Congress. While he spent massive sums of his personal cash to finance his 2016 marketing campaign, he took greater than $450,000 in donations from the insurance coverage, securities, banking and credit score industries all the way through his 2018 marketing campaign.

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