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Listen Up: What A Bank Lobbyist Wants Right Now

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Listen Up: What A Bank Lobbyist Wants Right Now

Listen Up: What A Bank Lobbyist Wants Right Now

Sen. Chris Dodd (left) wants to limit executive pay. The bank lobbyists, not so much. Lauren Victoria Burke/AP hide caption

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Lauren Victoria Burke/AP

Listen Up: What A Bank Lobbyist Wants Right Now

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Scott Talbott, chief lobbyist for the Financial Services Roundtable, will spend this week trying to get the best possible deal for his clients — the bankers and investors whose miserable balance sheets almost brought down the global economy last week.

Now those bankers stand to get a bailout from the federal government. Congress and the U.S. Treasury are working out a bill that would allow the Treasury secretary to buy up $700 billion in bad debts.

Talbott says the banking industry does bear some responsibility for things going so wrong, though not sole responsibility. Among his concerns this week: erasing a proposed provision to limit executive pay.

Update: Congress says White House agrees to limit executive pay.

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