The New York Times reports that after taking in $45 billion in TARP funds, Bank of America has decided to stop lobbying the federal government, bowing to the PR risks. Citi, on the other hand, "is still fielding an army of Washington lobbyists working on a host of issues, including the bailout."

It spent $1.77 million on lobbying fees in the fourth quarter. This may not be quite as fraught with PR risk as continuing to pay large bonuses while accepting taxpayer funds, but it is right up there. You can bet Citi's government handlers will have something to say about this. It's fair to say that the government is calling the big shots right now. This may have been an issue that received no attention until the press blew it up. At a minimum, it just looks bad.

For more:
- here's the article

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