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Matt Stoller is a fellow at the Roosevelt Institute. You can follow him on twitter at http://www.twitter.com/matthewstoller Did you know that most international banks would leave America if Congresswoman Maxine Waters became the Chairwoman of the Financial Services Committee in the House of Representatives?
MUCH as some businesses whine about government intrusion, others do pretty well out of it. An index based on the amount of lobbying that American firms do has outperformed the broader market since its creation in 2008; data going back to 1998 show that it has done better over the longer term, too. The index is produced by Strategas, an investment-research firm. A first effort, to rank firms on the amount they spend on lobbying, was no use: it just corresponded with the largest firms. Strategas now looks at the intensity of lobbying—expenditure as a percentage of assets—to create an index of 50 firms that is revised quarterly. In aggregate the results have been stunning, comparable to the returns of the most blistering hedge fund.
October 19, 2011 |
Overview The top five recipients of federal corporate tax breaks—Chevron Corp, Bank of America, ExxonMobil, General Electric, and Boeing —gave $78.7 million to state political campaigns and another $45.3 million to federal campaigns from 1999 through 2010. Bill De Blasio, of the New York City Public Advocates office, pointed out that these same five corporations benefited from $3.7 billion in corporate tax breaks in 2009, paid $0 in 2009 federal taxes, and in 2010 enjoyed a combined profit of $77.16 billion.
Have you heard of William Dore, Foster Friess, Sheldon Adelson, Harold Simmons, Peter Thiel, or Bruce Kovner? If not, let me introduce them to you. They’re running for the Republican nomination for president.
This post is by investigative reporter Lee Fang. Fang knows the ins and outs of DC corruption better than almost anyone else I’ve met. Here he has documented one of the little noticed but important ways that money sluices in and out of our political system, and heavily influences policy.
The coal industry has never seemed to have much difficulty pushing its views on Capitol Hill. In 2008 alone, the industry spent more than $47 million on lobbying and ad campaigns aimed at winning lawmakers' loyalty—and thanks to its efforts, received $60 billion in the House cap-and-trade bill to develop coal capture-and-storage technology.
The ousting of Don Blankenship from his position as CEO of Massey Coal at first glance appears like the toppling of an icon of "old-coal."
09 Nov 2010: Opinion by jeff goodell
In its new "A Fistful of Dollars" report, the International Monetary Fund concludes that the riskiest mortgage lenders were also the most active lobbyists in Washington. IMF researchers found that during 2000 to 2007, lenders lobbying more intensively on mortgage-related legislation — such as consumer protection laws and securitization — made more hazardous mortgage loans than those who lobbied less. “These results suggest that lobbying may be linked to lenders expecting special treatments from policymakers, allowing them to engage in riskier lending behavior,” the report notes. The big lobbyists originated mortgages with higher loan-to-income ratios, securitized a faster growing proportion of their loans, and had faster growing loan portfolios. Not surprisingly, lobbyist lenders’ stock suffered more during the financial crisis and delinquency rates are higher in areas where lobbying lenders’ mortgage lending grew the fastest.
lobbying - curators...
Another casualty of the 2012 elections has joined the influence industry, as former Rep.
The revolving door
U.S. Private Prison Population Grew 37 Percent Between 2002-2009 As Industry Lobbying Dollars Grew 165 PercentToday, the Michigan Messenger reports about how the private prisons behemoth Corrections Corporations of America grew over the last decade, expanding both its prisoner population and its political clout.
By Lee Fang posted Apr 20th 2012 at 9:04AM
Matt Stoller is a current fellow at the Roosevelt Institute. His Twitter feed is @matthewstoller. More than a third of all states allow debtors “who can’t or won’t pay their debts” to be jailed. In 2010, according to the Wall Street Journal , judges have issued 5,000 such warrants. What is behind the increased pressure to incarcerate people with debts? Is it a desire to force debt payment?
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Money in politics..