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ShockediSay Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 05:34 PM
Original message
Firms That Got Bailout Money Keep Lobbying
Source: NYTimes

WASHINGTON The financial giant Bank of America says it is no longer lobbying the federal government about its unfolding bank bailout. After receiving $45 billion in bailout money, lobbying was just too unseemly.

We are very sensitive to the fact that we have taxpayer money, said Shirley Norton, a spokeswoman for the company.

Citigroup, recipient of another $45 billion, made the opposite call. While trying to keep a low profile, the company is still fielding an army of Washington lobbyists working on a host of issues, including the bailout. In the fourth quarter, it spent $1.77 million on lobbying fees, according to its lobbyists filings.

Read more: http://www.nytimes.com/2009/01/24/business/24lobby.html...



Let me get this straight. $45 billion of our taxpayer dollars went to subsidize

almost $2 million for the lobby lawyers, so they can get more taxpayer dollars?

THIS IS AN OUTRAGE !!!

We SHOULD eliminate Thain type expenditures and excessive top of the heap
over compensation.

We SHOULD ALSO eliminate organizations who are relying on our taxpayer dollars
to stay in business, from using our money to lobby our government for more
taxpayer dollars.
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DCKit Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 06:02 PM
Response to Original message
1. No, we need to begin prosecutions.
What they've done is little more than a Ponzi scheme - defrauding investors, lying about profits, investing in derivatives (and other imaginary vehicles) and lining their own pockets with outrageous salaries, bonus packages and golden parachutes (though that may be more akin to "embezzlement").
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Hydra Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 06:58 PM
Response to Original message
2. Our Gov't, for sale.
That part has to stop, immediately, for all companies. This is OUR gov't, not a gov't for the highest bidder, at least by the theory.
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Marie26 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 07:27 PM
Response to Original message
3. Of course, that's how they got the bailout money.
Maybe if they lobby enough, they can get even more.
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stillcool Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-24-09 07:39 PM
Response to Reply #3
4. good point!..
sometimes I wonder if it's more like extortion.
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biopowertoday Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-25-09 07:39 AM
Response to Reply #3
5. that is the job of lobbiests. ---
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Earth_First Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-25-09 07:45 AM
Response to Reply #5
6. Huh?
:shrug:
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Solly Mack Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jan-25-09 08:01 AM
Response to Original message
7. How does my vote (my voice) compete with all that money (their voice)
Evidenced by how things are....it doesn't.

I hear how "the people have spoken" - then I see how it really goes...

Sigh
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