Issa to propose ban on GM, Chrysler lobbying

"...GM spokesman Greg Martin said it "will continue to exercise its First Amendment right to free speech." With taxpayer money-taxpayer rape
by GM/Chrysler rolls on and on and on and...
Issa to propose ban on GM, Chrysler lobbying http://tinyurl.com/36k8bco
WASHINGTON -- A California Republican lawmaker and chief critic of General Motors is to propose barring any government-owned entity from hiring lobbyists as part of the financial-reform bill.
U.S. Rep. Darrell Issa was to make the proposal today from his seat in a House-Senate conference committee hammering out a compromise reform bill. He contends GM, Chrysler and Ally Financial should face the same restriction against government lobbying that federally backed mortgage giants Fannie Mae and Freddie Mac do.
Issa, the top Republican on the U.S. House Oversight committee, has been among the loudest critics of the Obama administration's auto industry rescue.
In April, Issa said that ads touting the company's repayment of its government loans "come dangerously close to committing fraud."
It's not the first time members of Congress have considered limiting the lobbying by GM and other recipients of federal aid since the $700-billion Wall Street bailout passed in 2008. GM spent $1.4 million on lobbying in the first three months of this year, while Chrysler spent $590,806 and Ally, formerly GMAC, spent $235,000.
The Treasury owns 61% of GM and 9.9% of Chrysler because of their government-funded bankruptcies, and has raised its stake in Ally to 56.3%.
GM spokesman Greg Martin said it "will continue to exercise its First Amendment right to free speech."
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Service Guarantees Citizenship

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It seems U.S. Rep. Darrell Issa does not understand the fundamental difference between federally BACKED mortgage giants Fannie Mae and Freddie Mac and being a major holder of the new GMs, Preferred Stock.
What the Congress should be doing is fundamentally changing the way Fannie Mae and Freddie Mac are allowed to operate. No bank or Mortgage company can legally do business the way that Fannie Mae and Freddie Mac are permitted to do business

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On 17/06/2010 6:42 AM, Jim_Higgins wrote:

Good proposal but democrats need government money motors to fund November. That is, Omaba says pork, and lobbiest pork up the democrats budgets for November. The ruse of democracy, just like a third world corrupt country.
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Taxation, modern day slavery. The loss of economic freedom.

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Once again our goofy friend Canucch57 is telling us the sky is falling LOL

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