Thursday, February 05, 2009

Here's Some Real "Investing": TARP Recips Spent $114 MILLION Lobbying

Via MTA: TARP Recipients Paid Out $114 Million for Politicking Last Year (Capital Eye):
The "struggling" companies whose freewheeling business practices have contributed to the country’s economic woes are getting a lucrative return on at least one of their investments. Beneficiaries of the $700 billion bailout package in the finance and automotive industries have spent a total of $114.2 million on lobbying in the past year and contributions toward the 2008 election, the nonpartisan Center for Responsive Politics has found. The companies’ political activities have, in part, yielded them $305.2 billion from the federal government’s Troubled Asset Relief Program (TARP), an extraordinary return of 267,208 percent.
Lessee here: Invest $114 MILLION, receive $700 BILLION! That's like a 10 THOUSAND percent return on investment.

Who says these guys don't know how to 'make' money.

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