Lobbying and Contributions by High Frequency Traders
Posted at 3:01 p.m. on May 13, 2013
The political contributions and lobbying expenditures of 48 high frequency trading companies have soared from 2008 to 2012. Political contributions jumped from $2.1 million to $16.1 million. Lobbying expenditures went from $1.4 million to $2.7 million.
Since 2008 political contributions from these 48 companies and their employees totaled $21 million, and lobbying expenditures totaled $10 million. The largest jump came between 2009 and 2010 when the early drafts of what would become the Dodd-Frank reforms and the Consumer Protection Act were discussed.
The findings came in a new press release and report by the Citizens for Responsibility and Ethics in Washington.