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For most of us, backing the innumerable federal bailouts is a leap of faith. Aside from economists and people with brains the size of Oldsmobiles, who among us is smart enough to know if throwing around all that money -- and assuming all that debt -- will actually work?Nashville's Tea Party protesters
already know where they sit. They're against it all. And in a certain sense, they may be right. Not that they understand economics any better than we do. But they do know that whenever government's involved, things go south awfully quick.
First come news that the biggest welfare recipients are using our own money to lobby us for more
. According to the Associated Press, "The top 10 recipients of the government's $700 billion financial
bailout spent about $9.5 million on federal lobbying during the first
three months of the year." Lead among them is GM, which burned through $2.8 million in lobbying in the first quarter alone.
And as the Tennessean pointed out yesterday
, there are now nearly 20 criminal investigations concerning "public corruption; corporate, stock and tax fraud; insider trading; and mortgage fraud" relating to bailout money.
Is it time to reinstate the guillotine?