Not surprisingly, lobbyists work to prevent a tightening of lending laws that emphasize short-term gains over long-term profits, to allow banks to underestimate risks-and set aside fewer reserves; to thwart legislation that would require tighter lending standards; to restrict competition; and to win favorable treatment in a crisis. All that, say the authors, "provides some support to the view that the prevention of future crises might require weakening political influence of the financial industry."
We're not holding our collective breath. Given the the amounts spent on lobbying by financial services companies, reform doesn't seem to be in the cards.
Below, lobbying expenses by firm per sector.