Via Meteor Blades
Banks with strong political connections were more likely to receive bailout money from the government — and more of it — in the past year than those with weaker ties, say Ross researchers.
A new study by Ross professors Ran Duchin and Denis Sosyura found that banks with connections to members of congressional finance committees and banks whose executives served on Federal Reserve boards were more likely to receive funds from the Troubled Asset Relief Program, the federal government's program to purchase assets and equity from financial institutions to strengthen its financial sector.
Further, their research shows that TARP investment amounts were positively related to banks' political contributions and lobbying expenditures, and that, overall, the effect of political influence was strongest for poorly performing banks.
University of Michigan
Banks and Bailouts: Playing Politics?
December 21, 2009
Actually, I'd call it Paying Politics.
Truly, the more things change, the more they stay the same.
Then:
And now:
Although I suppose the porcine bastards now will have to move over to make room for the insurance companies.