A small Wall Street securities firm has teamed up with a lobbyist for the financial services industry to host an all-day event on June 15 — right in the middle of the conference committee negotiations over the financial reform bill — that will feature “the KEY House and Senate Conferees and majority and minority Committee staff, as well as leading financial lobbyists covering interchange, banks and major non-banks affected by so-called Wall Street Reform bill,” according to an invitation obtained by TPM.
The firm, JNK Securities Corp., declined to comment about the event.
The other firm helping to organize the event, according to the email invitation, is Federal Advisory LLC. The registered agent for Federal Advisory LLC is Tim Rupli, according to Virginia corporation records. Rupli is a former aide to Tom DeLay and now a high-powered Republican lobbyist for the payday lending industry and the community banks trade association, among other clients.
Reached last week, Rupli declined to be interviewed, but suggested that the event may not take place after all. He hung up before elaborating.
While the invitation says the event will be on Capitol Hill, it doesn’t not specify the exact venue. Rupli’s Capitol Hill townhouse on New Jersey Avenue within easy walking distance of the House office buildings next to the Capitol, has been the frequent venue for fund-raising receptions, ranking as the 10th most popular congressional partying spot of 2008.
Last week, we reached out to all 12 of the Senate’s Wall Street reform conferees to ask if they planned to participate in the event. Most of the Senate offices said they had never heard of the event. Two — Sens. Tom Harkin (D-IA) and Patrick Leahy (D-VT) — said they will not be attending.
But the event, which does not appear to be a fundraiser, may not be targeting Democrats as much as Republican opponents of financial reform. The plain language of the invitation—such as the line: “so-called Wall Street Reform bill”—is taken straight from the GOP rhetorical playbook.
Regardless of which elected officials are being targeted, though, if you wanted evidence that Wall Street hasn’t given up the fight—and hasn’t lost its powerful friends in Washington—look no further. You can read the entire invitation below.
From: “Bill Williams” ********** Date: May 26, 2010 4:46:44 PM EDT Subject: (BAC, V, WFC, MA, GS, JPM) ** Confirmed ** Tuesday June 15th in Washington DC w/ KEY House & Senae Conferees
*Timely* Financial Reform Event on TUES June 15th in Washington DC
JNK will be hosting a financial reform event with Federal Advisory, LLC on Tuesday June 15th in Washington DC from 10am - 7pm on Capitol Hill. Speakers will include the KEY House and Senate Conferees and majority and minority Committee staff, as well as leading financial lobbyists covering interchange, banks and major non-banks affected by so-called Wall Street Reform bill. This event will comply with Congressional ethics and gift ban rules. JNK Securities Corp does not participate in any lobbying or fundraising events.
Attendance will be limited, Please indicate your interest.
Federal Advisory: Industry sources suggest the following is proposed conference schedule:
Tuesday, June 8 th-conferees appointed
Wednesday, June 9th-first open meeting of the conference; organizational matters and opening statements only
Tuesday, June 15th, Wednesday, June 16th, Thursday, June 17th-conference meets on substantive issues
Tuesday, June 22nd, Wednesday, June 23rd-conference meets on substantive issues
Thursday, June 24th-conference concludes with formal signing ceremony; conference report filed shortly thereafter
Monday, June 28th-Rules Committee meets to grant rule
Tuesday, June 29th-House passes conference report; this gives the Senate three days to pass it before the beginning of the July 4th recess.
Bill Williams | Director of JNK 3rd Party Research and Sales
JNK Securities Corp | Customized Research Solutions + Trade Execution
Semiconductors - Semiconductor Equipment - EMS/Hardware Supply Chain - U.S. Wireless/Mobile Devices - Global Telecom & Data Centers - Security Software - Retail - Gaming & Lodging - U.S. Government Strategy
JNK works with a select group of 3rd Party Consultants. Their work is exclusive to JNK Securities. We do our best to ensure that you are receiving the most up to date, accurate and actionable information on the Street. In an effort to maintain that value, it is important that our clients, keep our proprietary information to themselves. Please do not distribute our work to any outside party including (but not limited to) other Funds, friends, IR departments from mentioned companies etc.
If you have any further questions, please feel free to contact myself, Bill Williams, our Head of 3rd Party Research or Jodi Heitner, our Chief Compliance Officer.
Additional reporting by Justin Elliott
Brian Beutler is TPM's senior congressional reporter. Since 2009, he's led coverage of health care reform, Wall Street reform, taxes, the GOP budget, the government shutdown fight, and the debt limit fight. He can be reached at email@example.com.