Modern News

From Politico

The traditional pecking order of Washington’s top trade and business groups has been thrown into disarray by the Obama administration’s far-reaching domestic agenda and its tough tactics against opponents.

The U.S. Chamber of Commerce, engaged in a name-calling contest with the White House that has ended, for now, with an appearance by White House chief of staff Rahm Emanuel before its board, is down. The Business Roundtable, which made a conscious decision last November to find areas of common interest with the new administration, is up.

It’s the Independent Community Bankers of America and the Consumer Federation of America that are seeing their ideas prevail in the current debate over rewriting the regulatory framework for the financial industry, not the once-invincible, big New York investment banks.