Regulations allow lobbying to exist Re: “Dodd-Frank’s winners: Revolving-door regulators,” July 24
On July 24, a story ran about Dodd-Frank where Amy Friend illustrates pigs feeding at the troughs, even the very ones they’ve built. This story addresses the same issue at a macro level. The American public loves to rail against lobbying while hailing the regulations that enable it. There’s no coincidence lobbying escalated over the past decade when regulations such as Sarbanes-Oxley, Obamacare and Dodd-Frank passed. During the dot-com boom, the tech industry focused more of its investment in products and personnel. After the Microsoft antitrust trials, they now spend on lobbying. Tax dollars leave states to the federal government, and the states have to grovel to get those dollars back. State legislators even have lobbying representation!
