We, at The Lang Report have the lowest regard for lobbyists, the way they conduct their business and the fact that they even exist at all. They corrupt the democratic process as part of their daily methods of operation.

Then it should come as no surprise that when Congress approved the $840 billion bailout, that lobbyists came crawling out out every nook and crevice like cockroaches with the lights out. wanting to carve out their piece of the political pie.

Normally, The Lang Report would wait until after the Capital’s lobbyists do what they do before bestowing the coveted Golden Fleece Award, however we feel fairly certain that they will be true to themselves and grab all they can! 

So, like Darwin’s natural order of things this ocean of money created a feeding frenzy and one of the biggest lobbying free-for-alls in recent memory.

And if you are like me, you are outraged at the thought of a single penny going anywhere near these “bottom-feeders” calling themselves lobbyists

Many new supplicants are lining up for infusions of capital as sums of billions of dollars are channeled to other beneficiaries like the insurer American International Group and possibly soon to the credit card company American Express.

Of the initial $350 billion that Congress freed up, out of the $700 billion in bailout money contained in the law that passed in October, the Treasury Department has committed all but $60 billion. The shrinking pie - and the growing uncertainty over who qualifies - has thrown the legal and lobbying establishment in Washington into a mad scramble.

The Treasury is under siege by an army of hired guns for banks, savings and loan associations and insurers - as well as for improbable candidates like a Hispanic business group representing plumbing and home-heating specialists. That last group wants the Treasury to hire its members as contractors to take care of houses that the government may end up owning after buying distressed mortgages.

The lobbying frenzy worries many traditional bankers - the original targets of the rescue program - who fear that it could blur, or even undermine, the government’s effort to stabilize the financial system after its worst crisis since the 1930s.

This solidifies the case The Lang Report has been making from Day One concerning the damage that Lobbyists do to the our system of “checks and balances.”

Once upon a time the was a need for lobbyists as the represented the needs of special interest groups that could not fend for themselves. However, sad to say, they have mutated from a designated spokespersons to a blood-thirsty sharks sucking the life out of good intentions and once principled elected officials.

That was once upon a time……

AROUND the BLOGOSPHERE:

Lobbying Spurs Changes in Bailout Plan - If we are going to dole out $700 billion in taxpayer money the government ought to mandate real disclosure for lobbyists. Just as important as how the bailout bucks are spent is how the bailout bucks are acquired. …

Corporate Lobbyists Have Their Sticky Hands All Over This Bailout Mess - The lobbyists who present the wealthier entities are inevitably more successful, securing de-regulatory measures, earmarks, etc. for their clients. And money continues to power the Washington merry-go-round, as we’re seeing with …

$60 Billion All That’s Left of Bailout Money - Mark Landler and David D. Kirkpatrick Lobbyists Swarm the Treasury for Piece of Bailout Pie New York Times November 11, 2008 Read more: http://www.nytimes.com/2008/11/12/business/economy/12lobbying.html?partner=permalink&exprod=permalink.

Profiles in profligacy: The Bailout Lobbyist - While the plumbing lobbyist is making sure that the Joes it represents obtain a fair bite of the bailout chunk, it is painfully clear that almost none of the aforementioned bailout money has explicitly been allocated for distressed …