Dave's ESL Cafe's Student Discussion Forums

[rice07]

Hi,

This raises another problem with the US� too-big-to-fail, too-big-to-be-restructured banks: they are too politically powerful. Their lobbying efforts worked well, first to deregulate, and then to have taxpayers pay for the cleanup. Their hope is that it will work once again to keep them free to do as they please, regardless of the risks for taxpayers and the economy. We cannot afford to let that happen.

What does ' lobbying efforts ' mean in the context ? Thanks for your help.

Sincerely
rice

[pugachevV]

lobbyists try to influence legislators a certain way on certain issues on behalf of corporate and other organisations.
One of the ways they do this is by donating money to the re-election campaigns of legislators, or to political parties.
Banks have a lot of money.
In fact lobbying is a form of corruption, but unfortunately we tolerate it.

[rice07]

Now I have got it. Thank you so much for your elaboration to my question, PugachevV.

Sincerely
rice

[pugachevV]

You are welcome.