Firms That Got Bailout Money Keep Lobbying »

Posted By engineer 9 months, 2 weeks ago in Business & Finance

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.

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.

The different approaches from the two banks that have received the most money underscores the growing dilemma facing private companies, which increasingly deal with the federal government not only as rule-maker but also as shareholder, lender and trading partner.

Pressing federal policy makers risks the appearance of recycling public money to advance a private agenda, while staying on the sidelines could put a company at a comparative disadvantage.

Read Full Story at nytimes.com »

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engineer

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My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...

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    engineer9 months, 2 weeks ago

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    These are the companies who screwed the consumer and continue to do so for their greed.

    Let them go to H_ll!!!!

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    gwhiddon9 months, 2 weeks ago

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    Did people really think all Beltway business as usual was going to stop just because Obama is in power?

    Get real.

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    tchef9 months, 2 weeks ago

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    I don't expect that lobbying will ever end. It will continue in one form or another no matter what is done to try to stop it. We as constituents need to keep reminding our representatives who they work for by writing letters and voting them out when they refuse to listen to us.

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      simonsez9 months, 2 weeks ago

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      They are only exercising their Constitutional right ...

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      mnjyckque9 months, 2 weeks ago

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      This is the direct result of Ronald Raegan's attitude of deregulating big business. Greedy corporate fatcat are now getting loaded on our dime thanks to Saint Ronnie's sage advice!

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