Thursday, May 7, 2009

The Connected Are Doing Well

Banks that have a top executive serving as a regional Federal Reserve Bank director were five times more likely to receive a TARP grant than other commercial banks, according to an exclusive FinCri Advisor analysis.

44.5 percent of banks with top executives on the board of a Federal Reserve Bank were approved for money through the Troubled Asset Relief Program, compared to 8.3 percent for all eligible U.S. banks.

About 2,000 banks across the country still are waiting to hear from Treasury about their CPP applications.


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