Abstract

http://ssrn.com/abstract=1698945
 
 

References (26)



 
 

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Political Influence and TARP Investments in Credit Unions


Elisabeta Pana


Illinois Wesleyan University

Linus Wilson


University of Louisiana at Lafayette - College of Business Administration

October 30, 2012


Abstract:     
Forty-eight credit unions received capital injections as part of the financial sector bailout. The predicted probability of receiving bailout funds jumps from 29 percent to 81 percent for the typical credit union, if the institution’s headquarters was in the district of a member of the U.S. House Financial Services Committee (HFS). The credit unions receiving funds were significantly less likely to lend, contrary to the goals of the program. These results indicate that political influence may be an important determinant of which institutions receive taxpayer funds.

Number of Pages in PDF File: 35

Keywords: bailout, cooperatives, credit unions, CDCI, CDFI, Community Development Capital Initiative, Community Development Financial Institution, EESA, Emergency Economic Stabilization Act, politics, subordinated debt, SBLF, Small Business Lending Fund, U.S. House Financial Services Committee, TARP

JEL Classification: G21, G28, G38

working papers series


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Date posted: October 29, 2010 ; Last revised: October 31, 2012

Suggested Citation

Pana, Elisabeta and Wilson, Linus, Political Influence and TARP Investments in Credit Unions (October 30, 2012). Available at SSRN: http://ssrn.com/abstract=1698945 or http://dx.doi.org/10.2139/ssrn.1698945

Contact Information

Elisabeta Pana
Illinois Wesleyan University ( email )
P.O. Box 2900
Bloomington, IL 61702-2900
United States
Linus Wilson (Contact Author)
University of Louisiana at Lafayette - College of Business Administration ( email )
Department of Economics & Finance
214 Hebrard Blvd., Room 326
Lafayette, LA 70504-0200
United States
(337) 482-6209 (Phone)
(337) 482-6675 (Fax)
HOME PAGE: http://www.linuswilson.com
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