Commentary By Mike Zaman.

Banks bailed out by the US Taxpayers invested more than $16 million dollars to have the bank reform bill watered down to where it has no real teeth.

JPMorgan Chase & Co., led the pack of wolves spending $1.52 million on lobbying in the second quarter, that was on top of the $1.51 million Chase spent in the first quarter of 2010, Chase’s lobbying total owes $3.03 million, that’s according to disclosure reports filed with the House of Representatives clerk’s office.

Citigroup Inc., the largest bank recipient of government funds during the crisis in late 2008 and early 2009, was second. The New York-based bank spent $1.47 million on lobbyists in the second quarter, after spending $1.31 million in the first quarter for a total of $2.78 million.

In third place Wall Street titan Goldman Sachs Group Inc., with $1.58 million spent in the second quarter, on top of $1.19 million in the first quarter of 2010. Apparently the $550,000,000 GS Paid in fines to settle SEC Fraud claims with their own investors prevented them from coming in first.

This is yet another slap in the face for the American public, who by the way appear to be easily beguiled by these large impressive appearing institutions, and of course they would never do anything to harm the public!

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