Banks with political ties got bailouts, study shows
(Reuters) – By Steve Eder Steve Eder
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.
Banks with an executive who sat on the board of a Federal Reserve Bank were 31 percent more likely to get bailouts through TARP's Capital Purchase Program, the study showed. Banks with ties to a finance committee member were 26 percent more likely to get capital purchase program funds...MORE...LINK
Tobias Langdon says that some Black nations are just as guilty of slaving and other atrocities as some White nations (inadvertently proving that Moses-Christianity is the only way)
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Tobias Langdon discusses an article from (Zionist controlled) The Guardian
that discloses that certain Black nations and peoples have the same history
of...
1 day ago
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