Dodd-Frank revisited

A headline in yesterday’s Wall Street Journal had me wondering whether their proofreader had missed an extra comma:

Wall Street, Banks Press to Shape Dodd-Frank Rules

The article reports recently disclosed figures on financial industry lobbying. Since the Dodd-Frank law left so much for regulators to spell out, the numbers are not surprising:

Wall Street and the financial industry spent more to lobby Washington in the first quarter of this year than a year ago when Congress was writing sweeping financial-overhaul legislation, according to a Wall Street Journal review of lobbying reports released Thursday.

…

The disclosures show that 26 of the financial firms and trade associations that spent the most in 2010 collectively spent $27 million in the three months ending March 31, a 2.7% increase from the $26.3 million spent in the comparable period in 2010.

The industry’s first-quarter lobbying tally is its second-highest ever, according to an analysis of data provided by the Center for Responsive Politics.   …