Wednesday, March 4, 2009

Lobbyists & The Bailout

Here's something that you may find interesting. Despite all the trouble many banks are having these days, and the government money many of them have received .. they still found a way to spend dollars to lobby. An article from TheHill says JPMorgan Chase & Co. spent about $87,000 on lobbying lawmakers since November 2008. (including $5,000 to former Sen. Norm Coleman of Minnesota, $5,000 to Sen. Mark Warner of Virginia, $15,000 to the National Republican Senatorial Committee and $5,000 to the New Democrat Coalition.)
Chrysler's political action committee spend $62,500 in campaign contributions in December .. no doubt some of it went to those who agreed to bailout the company.
Since mid-November money spent on lobbying: American Bankers Association $132,000, Independent Community bankers Association $106,000.

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