Beautiful Virgin Islands

Friday, Aug 08, 2025

Do the congress members work in the Bank of America or is the Bank of America subject to the congress regulations?

Well, in a truly wild moment yesterday from the House Financial Services Committee, where they laugh about something that all the American people crying about, the revolving door from Congress to the banks.
Despite his role in overseeing the US’ most powerful financial institutions, Indiana Representative Trey Hollingsworth publicly asked Bank of America CEO Brian Moynihan to “take care of” one of his staffers leaving to work at the company. Critics say the exchange highlighted the “revolving door” between Washington and Wall Street.

Speaking at a House Financial Services Committee hearing on Wednesday, in which the heads of the US’ four largest banks were supposed to be grilled on rising inflation and the state of the economy, Hollingsworth asked Moynihan for a favor.

Announcing that one of his aides, Sruthi Prabhu, would leave his office on Monday for a job with Bank of America, Hollingsworth, a Republican, asked Moynihan to “take good care of her and know and recognize the talent she has shown already in our office.”

“We will do that,” Moynihan responded, adding: “Her father already works for us.”

“You should have called us,” quipped another banker, who couldn’t be seen on camera, as the group laughed.

Walter Shaub of the Project on Government Oversight described the scene as “absolutely wild,” adding that “anyone who says Washington’s revolving door isn’t a problem is either lying or hasn’t spent much time with folks working on the Hill.”

“I was in the room when this happened,” Democrat Representative Alexandria Ocasio-Cortez wrote on Twitter, “and it was just as gross and wild in person as it is here.”

The term “revolving door” is not a new one, but the cozy relationship between Washington and Wall Street came under intense scrutiny in the aftermath of the 2008 financial crisis. WikiLeaks revealed in 2016 that Citigroup hand-picked Barack Obama’s cabinet in 2008, and Public Citizen calculated in 2010 that the banking industry had sent more than 1,400 former government employees back to Washington as lobbyists in the two years beforehand.

A businessman before he entered politics, Hollingsworth is the ninth-richest member of Congress. While he spent large sums of his own money to finance his 2016 campaign, he took more than $450,000 in donations from the insurance, securities, banking and credit industries during his 2018 campaign.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Administration Increases Reward for Arrest of Venezuelan President Maduro to Fifty Million Dollars
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
OpenAI Launches GPT‑5, Its Most Advanced AI Model Yet
Embarrassment in Britain: Homelessness Minister Evicted Tenants and Forced to Resign
President Trump nominated Stephen Miran, his top economic adviser and a critic of the Federal Reserve, to temporarily fill an open Fed seat
The AI-Powered Education Revolution: Market Potential and Transformative Impact
Chikungunya Virus Outbreak in Southern China: Over 7,000 Hospitalized
French wine makers have seen catastrophic damage to vines that were almost ready to be harvested after the worst fires in more than 70 years burned through the south of the country
US Lawmaker Probes Intel CEO’s China Ties Amid National Security Concerns
Brazilian President Lula says he’ll contact the leaders of BRICS states to propose a unified response to U.S. tariffs
Trump Open to Meeting Putin as Soon as Next Week, with Possible Trilateral Summit Including Zelenskiy
Katy Perry and Justin Trudeau spark dating rumors, joining high stakes world of celeb-politician romances
US envoy Steve Witkoff arrived in Moscow to seek a breakthrough in the Ukraine war ahead of President Trump’s peace deadline
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Karol Nawrocki Inaugurated as Poland’s President, Setting Stage for Clash with Tusk Government
Trump Signals JD Vance as ‘Most Likely’ MAGA Successor for 2028
US Charges Two Chinese Nationals for Illegal Nvidia AI Chip Exports
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
U.S. Tariff Policy Triggers Market Volatility Amid Growing Global Trade Tensions
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
Representative Greene Urges H-1B Visa Cuts Amid U.S.-India Trade Tensions
U.S. House Committee Subpoenas Clintons and Senior Officials in Epstein Investigation
Sydney Sweeney Registered as Republican as Controversial American Eagle Ad Sparks Debate
Trump Accuses Major Banks of Politically Motivated Account Denials and Prepares Executive Order
TikTok Removes Huda Kattan Video Over Anti-Israel Conspiracy Claims
Trump Threatens Tariffs on India Over Russian Oil Imports
German Finance Minister Criticizes Trump’s Attacks on Institutions
U.S. Proposes Visa Bond of Up to $15,000 for Some Applicants
U.S. Farmers Increase Lobbying Amid Immigration Crackdown
Elon Musk Receives $23.7 Billion Tesla Stock Award
Texas House Paralyzed After Democrats Walk Out Over Redistricting
Mexican Cartels Complicate Sheinbaum’s U.S. Security Talks
Mark Zuckerberg Declares War on the iPhone
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
Tesla Seeks Shareholder Approval for $29 Billion Compensation Package for Elon Musk
Nvidia is cutting prices on its RTX 50-series graphics cards after sales slowed and inventories piled up
Ghislaine Maxwell Transferred to Minimum-Security Prison Amid Ongoing DOJ Discussions
U.S. Tariffs Surge to Highest Levels in Nearly a Century Under Second Trump Term
Matt Taibbi Slams Media for Role in Russiagate Narrative
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
×