Comments for Firms That Got Bailout Money Keep Lobbying »
Posted By engineer 11 months, 1 week ago in Business & FinanceThe 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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tchef11 months, 1 week 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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steveleeComment removed: Hard Banned
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