Anyone who thinks the government isn’t for sale in 2010 should take a look at the amount of money credit card companies have spent on lobbying. It hit a record last year, with nearly $36 million being spent, according to the site Opensecrets.org. If the trend continues, they’ll fork over even more this year.
No wonder credit cards continue to have gaping loopholes such as the one pointed out this morning by my MSNBC colleague Bob Sullivan. The lobbyists have been spending like pirates. So much for credit card reform.
What can you do about it? If you’re in one of these representatives’ districts, you can let them know how you feel about the credit card lobby’s influence. Or you can just vote against them in the next election.