The Politics of Foreclosures
研究发现2009-2010年间，美国众议院金融服务委员会成员所在选区的逾期贷款止赎启动被延迟了0.5个月，而委员会与非委员会选区的违约率并无差异，延迟成本远超银行政治行动委员会对委员会成员的竞选捐款。
ABSTRACT The U.S. House of Representatives Financial Services Committee considered many important banking reforms in 2009 to 2010. We show that, during this period, foreclosure starts on delinquent mortgages were delayed in the districts of committee members although there was no difference in delinquency rates between committee and noncommittee districts. In these areas, banks delayed the foreclosure starts by 0.5 months (relative to the 12‐month average). The estimated cost of delay to lenders is an order of magnitude greater than the campaign contributions by the political action committees of the largest mortgage servicing banks to the committee members in that period.