The Big Winners of a Dysfunctional Congress

Bloomberg: “Any Washington lobbyist worth their salt knows defeat or delay of new legislation is often the most lucrative outcome for corporate clients.”

“By that measure, 2023 was a success, as Congress passed few new laws amid months-long battles over raising the US debt limit and avoiding a government shutdown. All that inaction translated into wins for Wall Street banks, tech giants, and pharmaceutical companies, whose profits were spared the pinch of additional regulation.”