Goldman Sachs spends $690,000 to lobby government

NEW YORK

Goldman Sachs Group Inc. spent $690,000 during the fourth quarter to lobby the federal government on issues related to regulating the banking industry.

The $690,000 spent compares with $530,000 the New York-based bank spent during the same quarter a year earlier when the credit crisis was peaking. Goldman spent $840,000 to lobby the government during the third quarter.

Goldman Sachs has been heavily scrutinized by politicians and regulators because it quickly returned to profitability after receiving $10 billion in government bailout money in late 2008. It also has sparked public angst about big bonuses it pays to its employees.

The bank did repay the $10 billion it received as part of the Troubled Asset Relief Program last summer.

In the final three months of 2009, Goldman spent money to lobby Congress, the Commodity Futures Trading Commission and Export-Import Bank of the United States. Those efforts are focused on regulatory reform, derivatives trading, financial risk management, executive compensation, accounting rules, international taxes, small-business lending and export-import bank financing. link