Posted by
Defend America on Friday, February 26, 2010 7:44:56 PM
Senate Banking panel to unveil regulatory plan to take over failing firms
By Silla Brush
-
02/26/10 03:12 PM ET
Senate
Banking Committee lawmakers are planning to unveil legislation that
creates a regulatory system with high hurdles for the government to
take over a failing financial firm, sources familiar with the plan said
on Friday.
Lawmakers on the panel are trying to create a system to wind down large
firms that are failing and threaten the broader financial system so
that future administrations do not need to turn to taxpayers for
bailout funds.
http://thehill.com/homenews/senate/83975-senate-banking-panel-to-unveil-regulatory-plan-to-take-over-failing-firms