Banks near record spending on D.C. lobbyists

[cory777]

Source: McClatchy/Charlotte Observer

The money banks spend on lobbying is on pace to reach a record high again this year as the industry battles to weaken or repeal hundreds of rules being crafted by federal regulators.

Lobbying outlays by the five biggest spenders in the commercial banking sector increased 12 percent in the first three quarters of 2011 over the same period last year, an Observer analysis of federal lobbying disclosure records shows.

Wells Fargo in particular is turning into a major player in Washington. The San Francisco-based bank's spending on lobbying is up 80 percent in the first three quarters of the year, compared with the same period in 2010.

"If these firms and these organizations keep spending money at the rate they've been spending it, they will shoot through the ceiling again this year," said Michael Beckel, spokesman for the research group Center for Responsive Politics, which tracks federal lobbying.



Read more: http://www.mcclatchydc.com/2011/11/21/130855/banks-near-record-spending-on.html?storylink=addthis#.TsrtuJhE958.twitter

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Breaking Activist News http://activistnews.blogspot.com/

[Autumn]

1. Money well spent.

For them anyway. For the rest of us, that just sucks.

[ozone_man]

2. Occupy them.

The banks that is. Hang the lobbyists.

[lonestarnot]

3. More for bank nest that they never intend to lend to anyone. That's not what banks are for anymore.

The cash hoarders now days. That's it.

[lunatica]

9. Yeah, the banks are now stuffing it all under the mattresses

They don't trust the banks ya know.

[nineteen50]

4. how you liking this democracy to the highest bidders?

[Phlem]

5. Well for one,

I'm glad we bailed them out so they could use our own money against us!

:sarcasm:

-p

[Auntie Bush]

6. Right...they're using our own money to lobby us. The nerve...and to hell with them.

Take all our money out of the damn banks and let them fail!

[Phlem]

7. Not for profit Credit unions

a good place for your money.

Just 1 suggestion.

-p

[Nihil]

8. Truly "The Best Democracy Money Can Buy". (n/t)

:thumbsdown: