Loophole Allows Inaugural Spending Binge

[NVMojo]

WASHINGTON Jan. 19, 2005 -- With a price tag of roughly $40 million, boasting a huge fireworks display over the city as well as lavish balls and star-studded concerts, President Bush's inauguration will be a pricey, no-expense-spared event paid for by the country's biggest companies seeking favors and breaks in Washington.

Such corporate wining and dining of public officials and large cash contributions are normally prohibited under ethics laws, but as with the Democratic and Republican conventions, there is an exemption for inaugural week.

"This is one of the last places where you can put up a huge contribution to directly benefit the interests of the president of the United States," said Fred Wertheimer, president of Democracy 21, a government watchdog group.


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http://abcnews.go.com/WNT/Inauguration/story?id=426152