According to a new study, for every $1 banks spent lobbying they received about $500 bank in bailout funds through the Troubled Asset Relief Program. Banks who spent money on lobbying were 42% more likely to receive bailout funds.

We talked with one of the authors of the study about what this means for lobbying and the Super Committee and where they plan to go from here with their data. Read the whole interview on the POGO blog.

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  • Bloomberg: Occupy Wall Street Protesters Blaming “The Wrong People”
  • ‘Occupy Wall Street’ Protests Spread Across the Country, Bloomberg Calls Them ‘Misguided’
  • ‘Occupy Wall Street’ Protesters March to NYPD Headquarters
  • “The protesters are protesting against people who make $40,000 to $50,000 a year who are struggling to make ends meet. That’s the bottom line,” Bloomberg said on his WOR 710 radio show Friday.
  • New York City Mayor Michael Bloomberg characterized Wall Street protesters as misguided, saying their demonstrations are targeting working class people whose jobs are tied to the financial sector, not the rich.

Here are some choice quotes:

A recent Gallup survey found that a record number of people are dissatisfied with the way they are being governed. And while there seems to be a disconnect between the discontent and the root of the problem (too. much. government.), it does look like reality is beginning to set in.

From Gallup:

Key Findings:

·         82% of Americans disapprove of the way Congress is handling its job.

·         69% say they have little or no confidence in the legislative branch of government, an all-time high and up from 63% in 2010.

·         57% have little or no confidence in the federal government to solve domestic problems, exceeding the previous high of 53% recorded in 2010 and well exceeding the 43% who have little or no confidence in the government to solve international problems.

·         53% have little or no confidence in the men and women who seek or hold elected office.

·         Americans believe, on average, that the federal government wastes 51 cents of every tax dollar, similar to a year ago, but up significantly from 46 cents a decade ago and from an average 43 cents three decades ago.

·         49% of Americans believe the federal government has become so large and powerful that it poses an immediate threat to the rights and freedoms of ordinary citizens. In 2003, less than a third (30%) believed this.

Read the Rest

Allow me to quote Ronald Reagan when he said “In this present crisis, government is not the solution to our problem, government is the problem.”

The Republican Party of Texas doesn’t want Ron Paul to win the nomination so they cancelled the Texas Straw Poll because Paul would have won by a landslide, embarrassing their status quo Governor Rick Perry.

The Forest Stewardship Council conducts rigorous investigations of the point of origin of harvested wood and the condition of forestry workers before bestowing a certification on the woods that companies import.Last week, the group said that although Gibson does import FSC certified woods, the Indian rosewood confiscated in last month’s raid did not have its more rigorous stamp of approval. Instead, the wood had a less rigorous classification that signaled the point of origin had not been as thoroughly investigated.

(emphasis added)

This is interesting, as it isn’t what Henry J. has been claiming. In fact, he has been suggesting that Gibson’s use of FSC certified woods was de facto proof that they were following the law. Now the FSC is saying “not so fast”. It’ll be interesting to see where this all goes.