Eight of the nation's largest banks spent nearly $26 million lobbying federal lawmakers in 2009, during one of the most tumultuous periods in financial history.
The banks spent nearly 6 percent more on federal lobbying last year compared with 2008, according to a review of congressional lobbying records. The banks spent $25.8 million on lobbying in 2009 and $24.4 million in 2008, the two years at the heart of the worst financial crisis since the Great Depression.
The eight banks include:
JPMorgan Chase & Co., Citigroup, Bank of America, Morgan Stanley, Goldman Sachs, Wells Fargo, Bank of New York Mellon and State Street.
Those eight banks were the first recipients of taxpayer bailouts at the end of 2008.
They have since repaid the aid (read: WE have repaid the aid we were FORCED to give them) and have seen their stock values increase. They are now preparing to pay out massive compensation packages. While the financial industry shows signs of improvement, the broader economy remains bleak with 10 percent unemployment.
The banks are locked in a tough lobbying battle over new financial regulations with other parts of the financial industry, consumer groups, labor unions, congressional Democrats and the White House.
Yes, it costs a lot of money to fight Ron Paul and Alan Grayson when they've got millions of voters clued in to your scam and have them wanting to audit the Fed.
I'd be scared too, if I was a greedy, scumbag, thieving bankster gangster.
No comments:
Post a Comment