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 Tillburg 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."
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Hosts: Cenk Uygur
Cast: Cenk Uygur
The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 6-8pm ET.
Young Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)
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