BAD INVESTORS

The financial sector invested more than $5 billion in political influence purchasing in Washington over the past decade, with as many as 3,000 lobbyists winning deregulation and other policy decisions that led directly to the current financial collapse, according to a 231-page report issued today by Essential Information and the Consumer Education Foundation.

The report, "Sold Out: How Wall Street and Washington Betrayed America," shows that, from 1998-2008, Wall Street investment firms, commercial banks, hedge funds, real estate companies and insurance conglomerates made $1.7 billion in political contributions and spent another $3.4 billion on lobbyists, a financial juggernaut aimed at undercutting federal regulation.

— Press release from Wall Street Watch, a foundation that promotes “corporate accountability.”

SERVICE SHORTFALL

Some numbers suggest the dimensions of the crisis. As states are preparing their fiscal 2010 budgets, they are looking at a revenue shortfall of $84.3 billion, according to the National Conference of State Legislatures. The largest gaps forecast for 2010 are in states hit hardest by the real estate crash: Nevada (with a budget shortfall of 37.6 percent), Arizona (28.2 percent), New York (24.3 percent) and California (22.3 percent).

Facing these deficits, most states have said they will cut services and payrolls. At least 40 states are planning such cuts, according to the Center on Budget and Policy Priorities. The proposed cuts are scary: At least 28 states are contemplating reductions in public health programs; at least 22 are targeting services for the elderly or disabled.

— The Washington Post

STATISTICALLY SPEAKING

Austin's Municipal Court, which handles offenses including speeding, disorderly conduct and parking at an expired meter, has compiled statistics that illustrate the pain is fairly wide-reaching. For example, in the last three months of 2007, 36 of every 100 people who were required to pay a fine asked for an extension. In the last three months of 2008, 72 of every 100 people did.

The Municipal Court has other examples of economic troubles hitting home. For example, during the last three months of 2008, the court assigned 2,341 people community service rather than fining them — a 59 percent increase.

— The Austin-American Statesman

A SMALLER CORPS

State Sen. John Whitmire, D-Houston, dropped by the press table with a joke. "I noticed y'alls ranks are getting thinner," he quipped. "That's a shame." Indeed.

A review of the senate's press books, which each year publishes pictures of reporters from the various media outlets covering the Legislature, shows that his statement is empirically true. Twenty years ago, in 1989, there were at least 83 credentialed reporters. Now there are 53, and that's likely to decrease even more after this session, given the tough economic conditions and the market forces that are changing journalism. Is this a bad thing? For elected officials, it's fewer reporters (with less time) poking around in their business. But that's also fewer reporters (with less time) to cover the day-today business that promotes elected officials' ideas and name recognition and influence. And of course, it's fewer reporters (with less time) telling taxpayers about both.

—— The Houston Chronicle via its Texas

NEW AGE FUNDRAISING

The Pew Center on the States just came out with a new report analyzing national incarceration and community supervision statistics, along with an accompanying Texas state fact sheet. Bottom line: One in 31 American adults nationally are in prison, jail, on probation or on parole. In Texas, though, the ratio is much higher — one out of 22 adults here are under control of the criminal justice system, Pew calculated.

Texas no longer boasts the nation's top incarceration rate, however. That dubious honor belongs to Georgia. One in 13 Georgians — an astonishing 7.92 percent, compared to 4.56 percent in Texas — are in prison, jail, on probation or on parole, says Pew. Texas' percentage of its population under control of the corrections system ranks 4th nationally.

— Gritsforbreakfast, a weblog that focuses on the Texas criminal justice system