Thursday, December 19, 2013

Government's most profitable scam? Reform!

If you were worried that the dearth of legislation being passed by this Congress was hurting the business of Washington's K-Street Lobbyists, you can relax. The surge in regulation has proven to be more profitable than making new laws ever was.
K Street mints money from regs surge | TheHill: "A regulatory lawyer can earn anywhere from $350 to $1,000 per hour when working for a client, depending on the firm and the attorney’s level of experience, according to several accounts. 
And one of the most important but little-known steps in the regulatory process, the filing of a comment letter on a proposed rule, could cost a company up to $100,000, one source said. 
“A regulatory project can far exceed a yearly retainer of a typical lobbying representation,” said the regulatory lobbyist. “For all we think about the mone1y that goes into lobbying, it’s chump change.” 
The increased focus on regulation coincides with a general rise in the regulatory state under both Democratic and Republican presidents."
Hooray for bipartisanship!

No comments: