Political Lending: Lawmakers Overseeing Wall Street Given Bigger, More Favorable Loans Than Others

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Lawmakers Overseeing Wall Street Given Bigger, More Favorable Loans Than Others: Study

It is good to be king, as the old saying goes — and apparently it’s also good to get a seat on a congressional committee that oversees the finance industry. According to a new study, those lawmakers tend to get larger loans and at more favorable interest rates right when they get appointed to those powerful panels. Researchers suggest the evidence is no random coincidence: They say the trend may in fact expose a conduit of influence peddling in which powerful lawmakers are using their position to extract favors — and whereby Wall Street firms may be using stealth perks to increase their legislative power.

The analysis from London Business School professors Ahmed Tahoun and Florin Vasvari analyzed how the personal finances of congressional lawmakers changed once they were appointed to the Senate Finance Committee, the Senate Banking Committee or the House Financial Services Committee. It also evaluated how their finances compared with other lawmakers who are not on those panels.

In evaluating lawmakers from 2004 to 2011, the researchers found that finance committee members’ personal borrowing tended to jump in the first year they were appointed to the panels — a trend not seen for other lawmakers who were given seats on other powerful committees. Similarly, the data show that upon joining the finance panels, lawmakers tended to be given 32 percent more time — or on average 4 and a half years more — to pay back those new debts than loans they previously had and that other members of Congress have.

The study found that lawmakers also “report more favorable debt terms when they join the finance committee, relative to other years and to the terms other congressional members obtain including those on other powerful committees.”

More here…

Copy of the Study below…

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4closureFraud.org

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Political Lending

Comments
5 Responses to “Political Lending: Lawmakers Overseeing Wall Street Given Bigger, More Favorable Loans Than Others”
  1. Charles Fetters says:

    President Obama, Congress and Senate members, along the lobbyist are all guilty of the crime called TARP.

  2. mike Drouin says:

    What is most disturbing for the Homeowner , is not being afforded the protection of the Law after exposing the criminal actions of the banks !!!!

  3. lvent says:

    What I discovered by being forced to defend 2 FC’s myself, PRO SE for the past 5 years is they’re EQUITY STRIPPING our TITLES unlawfully by trying to defame the character of others in the most corrupt place there is.

  4. lvent says:

    It’s no joke what they’re doing is victimizing others to cover up their crimes.

    The investors in their own FRAUD stole my social # 341-66-6698 by IDENTITY THEFT & they’re terrorists for doing it.

  5. Jo Henrion says:

    “expose a conduit of influence peddling in which powerful lawmakers are using their position to extract favors — and whereby Wall Street firms may be using stealth perks to increase their legislative power.” ….

    HELLO!!!!

    Certainly everyone fighting to keep their home from an unlawful foreclosure is already keenly aware of this fact! The fox is guarding the hen house. Not guarding the hens you understand, just making sure no one else gets their hands on the hens. Hens, also known as taxpayers, are such moneymakers you know. Wall Street and Banksters can legally steal their money, their homes and no one cares. It’s a perfect gig!!!

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