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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

Steve Eder
Reuters [1]
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.

Full article here [1]

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Banks with political ties got bailouts, study shows  FOTR 340x1692 [2] 

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URLs in this post:

[1] Reuters : http://www.reuters.com/article/idUSN2124009320091221?type=marketsNews

[2] Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html

[3] Bailouts Have Failed: Banks Are Still Hoarding Cash: http://www.prisonplanet.com/bailouts-have-failed-banks-are-still-hoarding-cash.html

[4] 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

[5] Giant Banks Are Trying to Make Bailouts Permanent: http://www.prisonplanet.com/giant-banks-are-trying-to-make-bailouts-permanent.html

[6] 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

[7] 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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