12-Jun-2010

Lobbying In The US

From Washington Post:
Even for Washington, the revolving door between government and Wall Street spins at a dizzying pace. More than 1,400 former members of Congress, Capitol Hill staffers or federal employees registered as lobbyists on behalf of the financial services sector since the start of 2009, according to an exhaustive new study issued Thursday.
...
"Companies pay a premium for lobbyists who've spun through the revolving door because it can be a small price to pay relative to the huge payoff if they can shape legislation," said Sheila Krumholz, executive director of the Center for Responsive Politics. "These lobbyists tap insider knowledge and personal relationships, knowing that their old friends and former co-workers won't want to let them down."
But of course the lobbyists will be devoted to doing what is right for the people. To think otherwise is unwarranted.

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