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- Title
AN ANALYSIS OF THE FINANCIAL SERVICES BAILOUT VOTE.
- Authors
Couch, Jim F.; Foster, Mark D.; Malone, Keith; Black, David L.
- Abstract
The article discusses the Troubled Asset Relief Program (TARP), part of the U.S. government's response to the financial crisis which began in 2008. It focuses on the votes for and against it which were cast by U.S. legislators, and offers a mathematical model for them, which includes factors such as party affiliation, tenure, and contributions received from the finance industry. Although TARP was broadly unpopular with the general public, and legislators are quoted making speeches about this, it passed after modification. Votes in favor correlated with receipt of campaign contributions from the financial services industry.
- Subjects
UNITED States; TROUBLED Asset Relief Program (U.S.); UNITED States legislators; FINANCIAL services industry; CAMPAIGN funds; FINANCIAL bailouts; GLOBAL Financial Crisis, 2008-2009; UNITED States politics &; government, 21st century
- Publication
CATO Journal, 2011, Vol 31, Issue 1, p119
- ISSN
0273-3072
- Publication type
Article