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SUNDAY, NOVEMBER 22, 2009
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Bailout Bucks Go to Lobbyists

Bailed-out firms' spending on lobbying threatens to spark government backlash

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(Newser) – A surprising number of firms that reaped billions in bailout funds from the government have been spending big to lobby the government for more, the New York Times reports. Citigroup, General Motors, and at least seven others have paid lobbyists millions since October. Some recipients actually increased the amount they spend to promote their interests in Washington.

Bankers argue that taking money from the government doesn't rob of them of their right to petition Washington, but angry lawmakers beg to differ. "That taxpayer dollars intended to stabilize the economy could find their way into the bank accounts of lobbying firms” is “completely unacceptable,” says Sen. Dianne Feinstein, who is pushing legislation to ban the use of bailout funds for lobbying.

Sen. Dianne Feinstein, D-Calif, said it is
Sen. Dianne Feinstein, D-Calif, said it is "completely unacceptable" for firms getting bailout cash from the government to use it to lobby Washington.   (AP Photo/Susan Walsh)
Lawmakers are threatening to bring in measures to forbid firms getting bailout cash from the Treasury from using the money to pay lobbyists.
Lawmakers are threatening to bring in measures to forbid firms getting bailout cash from the Treasury from using the money to pay lobbyists.   (Shutter Stock)
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There's a smell to companies that are on the government dole lobbying for more money and lobbying for less oversight.
- Ed Mierzwinski, consumer program director at Public Interest Research Group.

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3 comments
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Sammy
Jan 24, 09 1:24 PM CST
This is what happens when foxes guard the henhouse. Reply
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riffran
Jan 25, 09 12:04 AM CST
That is just plain ole wrong......jail all of them greedy vultures Reply
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radnip
Jan 28, 09 3:44 AM CST
Welfare is welfare, whether taken by a single mother with 5 kids or Wall Street. Wall Street just has better lobbyists, who can get them billions and not just a few measily millions. Reply
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