Comments on: Bailout banks were also big lobbyists

By: Phantom

Phantom — Wed, 12 Nov 2008 20:40:07 +0000

He is in favor of helping out other financial institutions that are not regulated by the fed.

By: Phantom

Phantom — Wed, 12 Nov 2008 20:39:03 +0000

Paulson coming out today and stating the money is for helping the finance community, and not industry is a pretty clear indication of where his heart is.

By: GMC70

GMC70 — Wed, 12 Nov 2008 19:14:02 +0000

BTW – as long as Congress is making policies and regulations that so directly impact banking/finance, or for that matter business of any kind, it is inevitable that lobbying will take place.

In fact, from the business’ perspective, it would be irresponsible NOT to lobby Congress.

Want to remove the influence of lobbyist for big interests? Get government largely out of the business of regulating business. There is no other way; as long as one exists, the other will. And that will be so no matter which party controls government.

It’s the nature of the beast. It is also why, no matter what the rhetoric, those with money and connections will always be able to “rig” the system; they will see that favorable tax/regulatory policies are written into the law.

No matter which party is in power.

By: GMC70

GMC70 — Wed, 12 Nov 2008 17:49:53 +0000

Criminee. NO KIDDING!!! Is ANYONE remotely surprised by this “revelation?”

And this was with a democratic House – you think this will change with democrats in control of both houses and the White House?

Nope. Not one iota, not one jot, not one tittle. Some things never change.

“Meet the new boss, same as the old boss.”

Yup.

By: mom

mom — Wed, 12 Nov 2008 17:39:11 +0000

Phantom makes a good point. Didn’t Paulson get one of those golden parachutes when he left Wall Street before becoming the Treasury Secretary? How can we trust him to do what is fair – isn’t he really just one of the Wall Street fat cats?

By: Phantom

Phantom — Wed, 12 Nov 2008 15:36:49 +0000

It’s the treasury that is controlling the disbursement of funds.

By: mom

mom — Wed, 12 Nov 2008 15:35:12 +0000

Why blame just the Pelosi Congress? No Republican yet has been able to tell me why it was that Republicans had total control of White House and Congress for 6 years and they allowed this to happen? This Wall Street mess did not start overnight and it sure was not started by just Democrats.

By: BlueJay

BlueJay — Wed, 12 Nov 2008 13:32:31 +0000

All detailed in “The Wrecking Crew how conservatives rule” by Thomas Frank.

By: Raptor

Raptor — Wed, 12 Nov 2008 13:26:55 +0000

And the Pelosi Congress does what the banks want. This is surprising to anyone?