As the world churns

USA Today reports on the front page today that the banks you & I are subsidizing with our taxes are still spending millions to lobby Congress. There’s also a page 10 sidebar about the specific efforts of Merrill Lynch.

You remember ML, don’t you? The ones who whined & moaned because they didn’t get on the same dole that Bear Stearns, Lehman Brothers & AIG did?

Lynch’s lobbyist (or one of them) is quoted as saying that they have a right to lobby policymakers.

Correct me if I’m wrong—but isn’t that lobbying for legislation that permitted banks, brokerages, mortgage firms, etc. to engage in wildcat investments based essentially on nothing but the greed principle—isn’t that what got us into this mess?

I mean, they bought/lobbied their way into the greatest financial crisis in 75 years, one that's still washing over the economies of every country in the world, & they still think they have the right to continue—on our nickel—to cajole Congress into legislating more ways for these institutions to clip us?

Am I the only one who thinks it’s whacked that CityBoAPNCFargoCapOne & Co are using MY money to wheedle policymakers into letting them raise fees, cut back services & generally make it harder for me to do business with them?

Folks, next time you’re hit with a higher ATM withdrawal fee, or wait an hour to speak with the single loan officer working in the branch—just remember that you actually helped that institution buy influence to legalize charging more for less.

Capitalism—goniff!