Why are recipients of the Troubled Assets Relief Program (TARP) – better known as the Banking Bailout – allowed to continue to lobby? Taxpayer dollars should not be used to influence our government. We, the People should be telling them what to do, not the other way around.
TARP recipients spent $114 million on lobbying last year as the financial crisis emerged. In just the last quarter of the year eighteen bailout recipients spent $14.8 million to influence the government, as the TARP funds were distributed.
The lobbying has paid off. According to the Center for Responsive Politics, “The companies' political activities have, in part, yielded them $295.2 billion from TARP, an extraordinary return of 258,449 percent.”