Banks With Political Ties Got Bailouts, Study Shows

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.

Banks with headquarters in the district of a U.S. House of Representatives member who serves on a committee or subcommittee relating to TARP also received more funds.'

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Imagine my complete surprise!!

UK Hit Hardest by Banking Bailout, With £1Trillion Spent to Line Bankers Pockets

The burden of the banking bailout has been heavier in Britain than the rest of the western world, according to alarming figures published today.
The UK has committed public funds worth almost 75 per cent of national income, or around £1trillion, to saving the City, according to the Bank of England.
That compares with bailout costs worth just 30 per cent of gross domestic product in the Euro Zone and 50 per cent in the United States.'

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