The Bailout: Business Lobbyists Bear Down

Lobbyists for everyone from carmakers to air-conditioning companies to AARP tell Congress they need the Paulson plan to pass

As the Treasury Dept.'s on-again, off-again $700 billion rescue package headed for passage in the Senate (BusinessWeek.com, 10/1/08) on Wednesday night, corporate lobbyists were taking no chances. Over the past several days, as the bill appeared to falter amid intense public opposition, they have launched a massive, coordinated lobbying effort to help keep it on track. Trade associations, corporate executives, and small business groups all targeted naysaying members of Congress directly. And, to put pressure on the politicians, in more recent days they went all-out to convince John and Jane Q. Public back home that the rescue plan is a good idea for the economy as a whole, not just Wall Street.

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