WASHINGTON — As Jefferson County, Ala., teetered on the edge of bankruptcy for much of this year, a financial industry group plowed more than $4 million into lobbying Washington lawmakers and regulators to dilute provisions of the reform law enacted last year to curb the kinds of abuses that helped trigger the municipality’s fiscal distress.
The Securities Industry and Financial Markets Association spent $3.96 million on lobbying during the first three quarters of 2011, slightly outpacing its efforts for the same periods in 2008 and 2009, according to reports filed with the clerk of the U.S. House that contain information for both houses of Congress.
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