the credit card companies have spent $15.5 million on lobbying fees in the first quarter of 2009 alone (this according to CREW, the Citizens for Responsibility and Ethics in Washington), while employees of credit card companies spent an additional $14.5 million last year, and credit PACs spent $8.6 million more. It’s not enough that when the President even considered making a change to the credit laws, 14 top-ranking credit card company officials got to meet with Obama to plead their case in person; conveniently, none of the 14 was a registered lobbyist, which made them exempt from laws banning lobbyists from influencing officials with responsibility for distribution of stimulus/recovery funds. Apparently despite all that the credit card companies are voiceless yet, and still need Michael Hiltzik of the LA Times to champion their cause.
:: posted by buermann @ 2009-05-05 20:40:41 CST |
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