Lobbyists Swarm the Treasury for Piece of Bailout Pie

[CrONoS]

UNBELIEVABLE!!

Lobbyists Swarm the Treasury for Piece of Bailout Pie

WASHINGTON — When the government said it would spend $700 billion to rescue the nation’s financial industry, it seemed to be an ocean of money. But after one of the biggest lobbying free-for-alls in memory, it suddenly looks like a dwindling pool.

Many new supplicants are lining up for an infusion of capital as billions of dollars are channeled to other beneficiaries like the American International Group, and possibly soon American Express.
....

http://www.nytimes.com/2008/11/12/business/economy/12lobbying.html?_r=2&hp&oref=slogin&oref=slogin

Maybe it should become mandatory reading... :wiglaf:

The Logic of Collective Action

http://www.amazon.com/Logic-Collective-Action-printing-appendix/dp/0674537513/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1226603594&sr=8-1

[Lancer]

Yup. Turns out it was a bad idea. Who would have thunk? I mean besides 90% of Americans.

Government is out of control.

[chequita guevara]

If the government were out of control, it would have buckled to the 90% majority. Instead it did just what its masters wanted, despite the unpopularity of the measure. In other words, the reason the government did this was precisely because it was in control.

[MarkG]

so is this the biggest heist in human history?

[rah]

And more surprising, done right under our noses within weeks of an election. It shows how low an opinion they have of us.

[Elok]

I remember a bit from the Cartoon History of the United States, specifically the Reconstruction Era: Congress allocated massive funds to assist private companies planning to build transcontinental railroads. Instantly hordes of people with no engineering experience showed up with Railroad Companies they'd established the day before...very, very little of that money was ever used to buy so much as a single spike. Maybe I got the details wrong, but history repeating itself in comical fashion:

[Arrian]

the reason the government did this was precisely because it was in control.

You mean under control. [/quibble]

-Arrian

[Aeson]

Originally posted by MarkG
so is this the biggest heist in human history?

No... possibly not even the biggest heist this month. (The ~1.2trn the Fed bumped up it's lending and is refusing to divulge to whom and backed with what collateral.)

[chequita guevara]

Originally posted by MarkG
so is this the biggest heist in human history?

Hardly. Our ancestors stole an entire continent, and the Brits stole one quarter of the world.

[Asher]

Originally posted by Comrade Snuggles


Hardly. Our ancestors stole an entire continent, and the Brits stole one quarter of the world.

And who knows how many untold billions were stolen by communist regimes around the world.

This kind of government ineptitude is precisely why big government is a bad idea.

[rah]

Originally posted by Comrade Snuggles


Hardly. Our ancestors stole an entire continent, and the Brits stole one quarter of the world.

Who did we steal the ENTIRE continent from? We just stole part of it. Get your facts straight.

[Arrian]

Prometheus' theft of fire.

The Israelite theft of Canaan (divine sanctioned theft - all the more impressive!)

But yeah, it's tough to top the theft (conquest) of an entire continent (two, really - North and South America, if we go with "Europeans" instead of "our ancestors").

-Arrian

[chequita guevara]

Originally posted by rah
Who did we steal the ENTIRE continent from? We just stole part of it. Get your facts straight.

Canada isn't really another country and everyone knows we own Mexico.

[rah]

Stealing requires ownership. Most native american tribes were nomadic and didn't claim ownership of the enitre US. So it's just silly to say we stole the entire continent. Yes, we stole a considerable portion, but no where near the entire continent.

[chequita guevara]

Actually, most tribes weren't nomadic, only the Plains Indians were. In any event, you don't have to be aware you own something to own it. They had a prior claim and they were more than willing to fight to protect it.