Wednesday, July 22, 2009

BofA's lobbying tab

Posted By on Wed, Jul 22, 2009 at 9:53 AM

Bank of America spends millions lobbying for favorable legislation in Washington? No shit. Anyone surprised by this? Anyone? Bueller?

Even after receiving billions -- with a B -- in tax payer dollars? They wouldn't dare.

Ha! They would, too, suckas.

How much did they spend lobbying state legislators? Can't tell you. The article doesn't say.

Even as Bank of America faces intensifying government oversight, the company has spent some $1.5 million this year to spread its lobbying influence on Capitol Hill.

The Charlotte bank has worked to sway lawmakers on more than two dozen pieces of legislation in the House and Senate. It has lobbied for flexibility in spending government rescue funds and against restrictions on executive compensation. It 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.

Bank of America's lobbying spending since January pales next to the $2.3 million it spent in the first half of 2008, according to records filed with the U.S. Senate.

More from Charlotte.com.

The Ken: "Doing what's in the best interest for your company is always the best thing to do." Um. Is it?

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