Your tax dollars at work

Against you. Would it have been too much to ask Washington to block such spending?

As Congress spent much of the last three months looking at ways to tighten regulations on financial institutions, some of the biggest recipients of the government’s $700 billion bailout increased their spending on influencing legislators.

“While these companies continue to count their taxpayer cash, they’re using their lobbying against critical financial reform,” said Ed Mierzwinski, consumer program director at Public Interest Research Group. “Anywhere but Washington, you would think this was the Saturday morning cartoons.”

Trade groups also have ramped up their lobbying and the consequences already are being felt. House Financial Services Committee Chairman Barney Frank, D-Mass., has delayed a panel vote on legislation that would create a consumer finance protection agency widely opposed in the financial sector.

Let’s hope Frank does the right thing and shuts down Big Finance.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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3 Responses to “Your tax dollars at work”

  1. tbhull says:

    Barney Frank is as corrupt as any. This is just the way the Congress clowns that allowed this theft to occur to get their cut/commission, and yes it will be juicy, very juicy.

  2. mf_roe says:

    Are you willing to work against an officeholder you like and respect and think is doing a good job IF he/she takes money from special interests? And remember your wants and desires fit the definition of a special interest to everyone else. Officeholders are always going to look out for themselves and neither you nor I nor the thing in the sky is going to change that. What we might be able to change if we work real hard is the awareness of the average voter of how their congress critter has shafted them while claiming to be protecting them. Take a page from the religious system, go out and convert someone.

  3. NotTimothyGeithner says:

    It wouldn’t be too hard to identify which Congressmen are taking money and calling them out on it. Lets make all decisions on which Congressmen are taking taxpayer money to fund their campaigns. They have to report it. That should be the only message campaign related. Either you took their money or you didn’t. If you did, even if you gave it back, that should be the rallying cry for everyone to vote against that candidate Democrat of Republican.

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