Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Senate Banking Committee Gets "VIP Loans"
Posted
August 27, 2016
Views
58,545
Likes
1,347
Comments
142
Engagement
2.54%
August 27, 2016
58,545
1,347
142
2.54%
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7:32Now PlayingNew research sheds light on how special congressional committees correlate with higher corruption. Cenk Uygur,host of The Young Turks, breaks it down. Tell us what you think in the comment section below.
"The analysis from London Business School professors Ahmed Tahoun and Florin Vasvari analyzed how the personal finances of congressional lawmakers changed once they were appointed to the Senate Finance Committee, the Senate Banking Committee or the House Financial Services Committee. It also evaluated how their finances compared with other lawmakers who are not on those panels.
In evaluating lawmakers from 2004 to 2011, the researchers found that finance committee members’ personal borrowing tended to jump in the first year they were appointed to the panels — a trend not seen for other lawmakers who were given seats on other powerful committees. Similarly, the data show that upon joining the finance panels, lawmakers tended to be given 32 percent more time — or on average 4 and a half years more — to pay back those new debts than loans they previously had and that other members of Congress have.
The study found that lawmakers also “report more favorable debt terms when they join the finance committee, relative to other years and to the terms other congressional members obtain including those on other powerful committees.””*
Read more here
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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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