All Commentary
Tuesday, December 22, 2009

TARP Funding Followed Lobbyists, Report Says

“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.” (Reuters, Tuesday)

No doubt the left will say get rid of the lobbyists, when they should be getting rid of the Fed.

FEE Timely Classic:
The Impossible Task of the Fed” by Ernest Ross