Posts Tagged ‘recipients’
Firms getting U.S federal bailout cash spent millions on lobbying so far this year, including efforts to block pay limits and tougher oversight, filings show.
The leaders were General Motors Corp., which spent nearly $1 million a month for three months on lobbying, and Citigroup and J.P. Morgan Chase, which combined spent more than $2.5 million.
In all, major bailout recipients spent more than $10 million during the first three months of 2009 and more than $22 million in the six months since the Troubled Assets Relief Program began, Senate disclosure records indicated.
The disclosures come as Congress and the public show anger over bailout recipients’ complaints over caps on company bonuses and pay, and some strings tied to the government loans, the Washington Post said.
Advocacy groups and some lawmakers say firms should not be lobbying against stricter oversight while receiving billions from TARP.
What I always want to know is – who are the politicians welcoming these creeps with open arms? I’m not talking about run-of-the-mill informational tasks, the sense of what lobbying originally was about. I mean the long-lost bubba who brings the giftmas presents.