Citigroup Lobbyists: Can’t Stop, Won’t Stop!

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Over the past few weeks, a lot of questions have been raised about how to stop banks receiving government bailout aid from paying for high-priced lobbying teams with taxpayer money.

The short answer, unfortunately, is that most banks will continue lobbying unless shamed into stopping — like AIG, which closed its influence shop but kept on hiring pricey PR consultants. Just listen to Roll Call‘s interview yesterday with Citigroup’s chief lobbyist, who formerly served as George W. Bush’s legislative affairs chief:

Will Citigroup’s heavyweight lobbying team soon go the way of its counterparts at Freddie Mac, Fannie Mae and American International Group? Not according to the banking giant’s chief lobbyist, Nicholas Calio, who says despite the recent cash infusions of government money, it’s business as usual for his lobby team.

“As far as the company and New York is concerned, the answer is ‘yes,'” Calio said of Citigroup’s determination to maintain its Washington presence. “We still have a lot of issues at the state and local level not related to” the Troubled Assets Relief Program.

“At the end of the day for all parties involved, for all of our shareholders and the taxpayers, Citi needs to become profitable again,” he added.

Stay strong and keep lobbying, man. These are tough times, as Roll Call goes on to explain: “Members of Calio’s public affairs team, particularly on the Democratic side, have been contacted and are in the process of negotiating with [other] lobbying firms and companies …”

But hey, at least Calio’s got a nice office to retreat to and gather his thoughts (much like former Merrill Lynch CEO John Thain). Also per Roll Call:

Calio’s office, atop the old Evening Star Building, is ostentatious even by Washington standards, according to lobbyists who have been to the office.

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