United States politicians profited from bank bailouts

This video from the USA says about itself:

23 December 2016

When congress voted for the bank bailouts, were they going to personally benefit from it? Cenk Uygur, host of The Young Turks, breaks it down. Tell us what you think in the comment section below.

“Do the personal assets of congressional lawmakers affect the way they vote on federal legislation? New data says yes — at least when it comes to their votes to bail out Wall Street with hundreds of billions of taxpayer dollars.

Amid the 2008 financial crisis, congressional lawmakers passed a bill providing $700 billion of direct support to major banks. In a new study, researchers from the London Business School and Tilburg University cross-referenced lawmakers’ vote for that controversial legislation with those lawmakers’ financial holdings. Their conclusion: members of the U.S. House of Representatives with a personal stake in bank stocks were far more likely to support the legislation than those who were not invested in those institutions.”

Read more here.

9 thoughts on “United States politicians profited from bank bailouts

  1. Pingback: Harvey flood disaster in Houston, USA | Dear Kitty. Some blog

  2. Pingback: St Louis, USA protests against police brutality | Dear Kitty. Some blog

  3. Pingback: Corporate media scared of Naomi Klein? | Dear Kitty. Some blog

  4. Pingback: Donald Trump’s tax cuts for himself, fellow billionaires | Dear Kitty. Some blog

  5. Pingback: United States CEOs getting richer | Dear Kitty. Some blog

  6. Pingback: Life expectancy declines in USA, Britain | Dear Kitty. Some blog

  7. Pingback: United States Senator McCain, sycophantic eulogies and truth | Dear Kitty. Some blog

  8. Pingback: Coronavirus and Big Business news | Dear Kitty. Some blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.