Figures from Senate lobbying disclosure website highlight the top four lobbying organizations, plus Bank of America, which is seventh.

Bank Spending on Lobbyists 2010 vs *2011

American Bankers Association
•2010: $6,040,000
•2011: $6,690,000

Wells Fargo & Co.
•2010: $3,260,000
•2011: $5,890,000

JPMorgan Chase & Co.
•2010: $5,770,000
•2011: $5,800,000

Citigroup Inc.
•2010: $4,120,000
•2011: $3,800,000

Bank of America Corp.
•2010: $2,720,000
•2011: $2,210,000

* Figures for 2011 include the first three quarters only.

Hat tip Bill King

Why Were FNM/FRE Banned From Lobbying But Not C/BAC/JPM/MER/GS/MS ? (January 31st, 2011)

Banks find extra money to hire lobbyists
Andrew Dunn
McClatchy/Tribune, November 29, 2011,0,7824137,full.story

Category: Bailouts, Politics

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

16 Responses to “Bank Spending on Lobbyists: 2010 vs 2011”

  1. Taliesyn says:

    Appreciate the new info. Ask Scott where one might also find the lobbying spending for the investment banks/financial houses
    starting with the “Usual Suspects”
    Goldman Sachs ( now that there Chief inner circle White House lobbyist , Henry Paulsen , is once removed ),
    J.P.Morgan/Chase , etc. May as well throw in GE Capital & GM Capital while we’re at it.
    Hope y’all had as good a Thanksgiving gathering as I did.
    As always thanks for your bringing this all to us on a *daily* basis

  2. rktbrkr says:

    I’m surprised Newt is running so strong in R presidential derby after being caught doing some high price pimping for Fannie. Thus far he’s been able to bite the hand that fed him. America is truly the land of opportunity!

  3. mathman says:

    Here’s another business as usual article:

    The VIOXX Settlement
    Merck Pays a Pittance for Mass Deaths

    Q: Who killed more Americans —al Qaeda crashing airplanes into the World Trade Center, or Merck pushing Vioxx?

    A: Merck, by a factor of 18.

  4. HEHEHE says:

    I’d like to see it as a percentage of profits. Profits go down, bribes go up?

  5. Irwin Fletcher says:

    rktbrkr, your comment is ignorant.
    Not saying you are ignorant, but your comment is ignorant.

  6. doug says:

    The best government money can buy. And it will never end, I fear….

  7. TLH says:

    Our political elite and the top 0.1% are in bed with each other. We need to clean house. We need a constitutional amendment for public financing of campaigns. Money to politicians should be reported as personal income. Thus bribery laws come into play.

  8. Orange14 says:

    More money diverted from the “owners” of the banks (e.g., the stockholders).

  9. gman says:

    Now look at the billions in benefits reaped as a result of the those paltry what a ROI!

  10. wunsacon says:

    I prefer the name “Orwells Fargo”. (H/T “juvenal delinquent” @ hoocoodanode)

  11. Darkness says:

    They take our money and bribe our politicians with it. Nothing could go wrong with that.

  12. Greg0658 says:

    this was an overnite thought – so in the process of work out:
    2 currencies – labor gets to choose which currency they are paid in:
    a> green under todays wild west ways (free markets)
    b> blue under different rules .. like: no money for lobbies, no investment overseas (world travel you will be required to turn cash green), no investments in corporate stocks (principle returning bonds only), NO M&A consolidation of job functions and factories

  13. wally says:

    Since most congresspersons probably see themselves someday ‘retiring’ to a cushy, high-paying job as a lobbyist, they will never vote for anything that tarnishes their future dream. In other words, they won’t restrict lobbying money because someday it will be going into their pockets.

  14. Money in politics is not an easy problem to address… But the devil is in the details and ham-handed approaches to fixing it may prove disastrous.

    The total listed above is around $50 million dollars. That’s a lot of money… and doesn’t include by a long shot all that’s coming from the financial services sector and other organized forces.

    I, too find the Citizens Untied decision objectionable. But the Supreme Court has one thing right… as much as we’d like to pretend otherwise… Money IS a form of speech… very forceful speech.

    That $50 million is equal to about 34 CENTS from every registered voter.

    While I’m not getting much traction with the duopoly… I’d like a chance for it to be discussed somewhere.

    While the laws regulating campaign finance definitely need tightening… and corporate ‘personhood’ has to go…

    Another tool is desperately needed and NOT dependent on government permission to exist.

    The political micro-transaction is a fundamentally necessary tool for scaling the force of citizen opinion and encouraging greater participation.

    Furthermore… the public finance of all or part of elections MAY be viable depending on how it executed. Its quite possible for such system to be gamed. I’d suggest that public finance, should it be desired is best implemented via the citizen’s political transaction network I describe. (I also contend the mere existence of this utility will make it easier to get public finance enacted.)

    And that that network itself (which I believe will arise naturally once the service is offered) eventually provides a platform for civic engagement which will itself greatly REDUCE the cost of citizen campaigns while opening it up to a broader cross-section of the population.

    The Pooled-User-Determined Account is a needed utility worthy of consideration.

    It’s like an online based ‘cash card’ for speech related participation. (I’m convinced the microtransaction also has a role in funding independent investigative journalism).

    Money is a ‘decision technology’… And in a scaled society… SMALL money is a very BIG deal.

  15. 873450 says:

    Bank = Person
    Money = Speech

    The Supreme Court said it’s O.K. – So what’s the big deal?
    What better place to exercise free speech than Washington D.C.?
    Who better to exercise free speech with than politicians?

    That said, it appears Wells Fargo is spending double the amount paid to lobbyists last year. Those prepaid “Get Out of Jail” cards can be expensive.

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