DODD-FRANK FINANCIAL REFORM BILL
“At that time [2010], [President Barak] Obama was shepherding the Dodd-Frank
financial-reform bill through Congress, and the White House did not intervene in the
carried-interest fight. Speaking about the Administration, a former senior Democratic
Senate aide told me, ‘They're judicious about using their lobbying - you want to use it
where you're thinking you're going to be effective.’ The White House decided that its
advocacy would not ‘move the needle one way or another.’"
financial-reform bill through Congress, and the White House did not intervene in the
carried-interest fight. Speaking about the Administration, a former senior Democratic
Senate aide told me, ‘They're judicious about using their lobbying - you want to use it
where you're thinking you're going to be effective.’ The White House decided that its
advocacy would not ‘move the needle one way or another.’"
Alec MacGillis, “The Billionaires’ Loophole,” New Yorker,
March 14, 2016, pp: 64-73.
