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Banks with political ties got bailouts, study shows
Posted By admin On December 22, 2009 @ 4:31 am In Money Watch | Comments Disabled
Tuesday, Dec 22nd, 2009
U.S. banks that spent more money on lobbying were more likely to get government bailout money, according to a study released on Monday.
Banks whose executives served on Federal Reserve boards were more likely to receive government bailout funds from the Troubled Asset Relief Program, according to the study from Ran Duchin and Denis Sosyura, professors at the University of Michigan’s Ross School of Business.
Banks with headquarters in the district of a U.S. House of Representatives member who serves on a committee or subcommittee relating to TARP also received more funds.
Political influence was most helpful for poorly performing banks, the study found.
“Political connections play an important role in a firm’s access to capital,” Sosyura, a University of Michigan assistant professor of finance, said in a statement.
“When the people find they can vote themselves money, that will herald the end of the republic.” – Fall Of The Republic – Buy the DVD here 
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URLs in this post:
 Reuters : http://www.reuters.com/article/idUSN2124009320091221?type=marketsNews
 Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html
 Bailouts Have Failed: Banks Are Still Hoarding Cash: http://www.prisonplanet.com/bailouts-have-failed-banks-are-still-hoarding-cash.html
 Bailouts Went To Foreign Banks: Congressional Report Confirms What We Already Knew: http://www.prisonplanet.com/bailouts-went-to-foreign-banks-congressional-report-confirms-what-we-already-knew.html
 Giant Banks Are Trying to Make Bailouts Permanent: http://www.prisonplanet.com/giant-banks-are-trying-to-make-bailouts-permanent.html
 Government Is Trying to Make Bailouts for the Giant Banks PERMANENT: http://www.prisonplanet.com/government-is-trying-to-make-bailouts-for-the-giant-banks-permanent.html
 Backdoor Nationalization? U.S. May Convert Banks’ Bailouts to Equity Share: http://www.prisonplanet.com/backdoor-nationalization-us-may-convert-banks%e2%80%99-bailouts-to-equity-share.html
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