Very good question to Hank Paulson from Rep. Joe Barton (R., Texas), Ranking Member of the House Energy & Commerce Committee, in relation to today’s hearing on the baptists and bootleggers of the global warming alarmist movement (otherwise known as the US Climate Action Partnership), who number AIG amongst them:
“Given the U.S. Treasury’s inherent responsibility to ensure the AIG bailout works out in the best interest of taxpayers, I write to inquire as to what the Department of the Treasury is doing to assess the implications of AIG’s political activities, particularly those designed specifically to influence emerging U.S. legislation that may have a substantial impact on taxpayer interests,” Barton wrote. “Funding for the effort is supplied by dues from the member companies and environmental groups. A portion of the dues is used for direct lobbying; USCAP has retained Lighthouse Consulting Group for this purpose, spending more than one millions dollars over the past two years.”
Spending bailout funds on lobbying Congress for an emissions cap-and-trade scheme, which will enrich those who do the trading (remember Lehman Bros and Enron’s lobbying for it), is just as bad, perhaps worse, than spending them on bonuses.