Friday, January 23, 2009

Bail Out Or Payoff ??? Or Democrat Version of Trickle Down???

This is from a recent WaPo story:
"Many of the large American companies that received billions of taxpayer bailout dollars by pleading that they didn't have enough money to lend to customers were, at the same time, spending millions of dollars dispatching lobbyists to influence the federal government.

"A Washington Times review of lobbying disclosure reports found that 18 of the top 20 recipients of federal bailout money spent a combined $12.2 million lobbying the White House, the Treasury Department, Congress and federal agencies during the last quarter of 2008.

"For instance, the government bought $3.4 billion in American Express Co. stock on Jan. 9 as part of an aid package. In the last quarter of 2008, the company spent more than $1 million on federal lobbying."

I guess the rest of us are just hoping this money will trickle down.

Hat Tip/Volokh Conspiricy

No comments: