Lobbying the Federal Government - Still Booming Despite Recession

Based on how slowly financial reform is going, how few people and firms have been punished for indiscretions that helped bring about the worst financial crisis this century, and, most of all, how much public money has been thrown its way, it's clear that the financial industry has done a phenomenal job as far as influence peddling is concerned.

That said, if it was just one industry throwing a bit of grease around, it might not be so bad. But the truth is that many of those who have been chosen to serve our interests have completely lost sight of why they were elected, and have instead become enamored with (and beholden to) myriad special interests with big wads of cash competing to win their affections (and their votes).

To make matters worse, the betrayal is often not very subtle -- it's right there in your face. If you read through the following report from the Omaha World-Herald, "What's Booming in a Recession? Lobbying in D.C.," paying particular attention to the bits I've highlighted in bold, you'll see just what I mean.

Midlands companies, universities, nonprofit organizations and local governments spend millions every year to lobby the federal government. While some have pared back recently, many have maintained their lobbying budgets or even increased them significantly.

The number of registered federal lobbyists was 14,808 in 2008, a year when overall lobbying expenditures reached a new height of $3.3 billion, according to the Center for Responsive Politics, a nonpartisan research group. Lobbying for 2009 is on pace to match that level or exceed it, fueled, not surprisingly, by substantial lobbying on matters related to health care...

“But a lot of companies, despite the economy being what it was, sort of take the approach of ‘We need to invest money now in the hopes of potentially getting a windfall later from federal government assistance via friendly legislation,' ” Levinthal said. “If you're a company and you're trying to get something from the federal government, it oftentimes costs a good deal of money.”

Comments

[john s. gordon:]

yes money does talk.
tom jefferson's ideal was a nation of yeomen farmers, some of whom might go to the capital for a couple weeks each year & legislate.
the nation chose al hamilton's path instead.
look where its gotten us.
> jack

Nov 10 08:37 AM