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Banks with the biggest lobbies received the biggest pieces of pie during the BANK BAILOUT, study finds.

A recent study found that the more aggressive larger banks were at lobbying Congress before the economic fall out, the more money that was received upon being bailed out.

Here is a snippet:

"Data collected by the three authors -- Deniz Igan, Prachi Mishra and Thierry Tressel -- show that the most aggressive lobbiers in the financial industry from 2000 to 2007 also made the most toxic mortgage loans. They securitized a greater portion of debt to pass the home loans onto investors and their stock prices correlated more closely to the downturn and ensuing bailout"

http://news.yahoo.com/s/nm/20110526/bs_nm/us_lobbying_imfreport

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Not that most of us had not guessed, but I thought it may interest some people.



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reedr3v's picture

From fat banking pockets to fat political

pockets and round and round.

Typical

Well, this is typical.

Eric Hoffer