fuck, so US taxpayer gives them money and they use them for lobbying their shit, so they can get more or fuck their customers with high interest rates. "good ole" USA is on the way to become a kleptocracy like the rest of the world.
WASHINGTON, July 22 (UPI) -- Bank of America Corp., which accepted $45 billion
in taxpayer bailout money, has spent $1.5 billion on lobbying so far this year,
U.S. Senate records indicate.
The Charlotte, N.C., bank -- one of the nation's largest -- has sought to sway
senators and members of Congress on more than two dozen pieces of legislation,
records indicate.
BoA has lobbied for flexibility in spending government rescue funds and against
restrictions on executive compensation. It also has lobbied on home mortgage
issues and credit card fees, as well as a consumer-rights bill, student lending
issues and a proposed federal regulatory oversight agency, the records obtained
by The Charlotte Observer suggest.
The documents don't say what positions the bank took. Bank spokeswoman Shirley
Norton would not comment to the newspaper other than saying it was interested
in tax reform and regulatory issues.
Critics argue that until banks repay taxpayer bailout money, they should steer
clear of lobbying.
"As long as they hold on to a very substantial portion of public funds, and are
publicly owned essentially, they should not be using any of their funds for
lobbying purposes or campaign contributions," Craig Holman, government affairs
lobbyist for the non-profit advocacy group Public Citizen, told the newspaper.
"And you'll find Bank of America is doing both."
Bank of America's lobbying tab was $2.3 billion in the first half of 2008, the
Senate records state.
"We're cutting expenses across the company, including lobbying expenses,"
Norton said.
WASHINGTON, July 22 (UPI) -- Bank of America Corp., which accepted $45 billion
in taxpayer bailout money, has spent $1.5 billion on lobbying so far this year,
U.S. Senate records indicate.
The Charlotte, N.C., bank -- one of the nation's largest -- has sought to sway
senators and members of Congress on more than two dozen pieces of legislation,
records indicate.
BoA has lobbied for flexibility in spending government rescue funds and against
restrictions on executive compensation. It also has lobbied on home mortgage
issues and credit card fees, as well as a consumer-rights bill, student lending
issues and a proposed federal regulatory oversight agency, the records obtained
by The Charlotte Observer suggest.
The documents don't say what positions the bank took. Bank spokeswoman Shirley
Norton would not comment to the newspaper other than saying it was interested
in tax reform and regulatory issues.
Critics argue that until banks repay taxpayer bailout money, they should steer
clear of lobbying.
"As long as they hold on to a very substantial portion of public funds, and are
publicly owned essentially, they should not be using any of their funds for
lobbying purposes or campaign contributions," Craig Holman, government affairs
lobbyist for the non-profit advocacy group Public Citizen, told the newspaper.
"And you'll find Bank of America is doing both."
Bank of America's lobbying tab was $2.3 billion in the first half of 2008, the
Senate records state.
"We're cutting expenses across the company, including lobbying expenses,"
Norton said.
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