December 6, 2009

Our political representatives taking care of us

Our representatives in Washington have just our own interests at heart. And I have some oceanfront property in Colorado to sell you. From the Washington Post:
House Homeland Security Committee faces ethics inquiry
At a hearing in late March, the nation's credit card companies faced the threat of expensive new rules from an unlikely regulator: the House Homeland Security Committee, chaired by Rep. Bennie Thompson (D-Miss.).

The committee had never before dealt with credit card issues, but Thompson warned Visa, MasterCard and others that Congress might need to impose tighter security standards costing millions of dollars to protect customers from identity theft.

Behind the scenes, some of Thompson's staff members sensed a different motive -- an attempt to pressure the companies into making political donations to the chairman, according to several former committee staff members.

Now the House ethics committee is investigating the propriety of the committee's operations, and whether its members' interactions with companies compromised its work. Within a few weeks of the hearing, Thompson collected $15,000 in donations from the credit card industry and its Washington-based lobbyists, a Washington Post analysis shows. No legislation on card security has been introduced.
And if Thompson had been a Republican, this would be headline news, not some item on page 7 below the fold. What amazes me is that these people can be bought off for as little as $15K. Shaking down the big credit card companies should net a lot more than that... Posted by DaveH at December 6, 2009 11:52 AM
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