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WASHINGTON (MarketWatch) -- As lawmakers continue to craft a process to dismantle a behemoth insolvent financial institution so that its bankruptcy doesn't cause widespread damage, efforts are underway to give Congress a greater role in deciding... Full Article at MarketWatch
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It was a tall order last fall when then-Treasury Secretary Hank Paulson Jr. asked Congress for $700 billion and nearly unilateral power over how to spend it. With the nation on the precipice of economic Armageddon, Paulson's request was granted. Full Article at Mother Jones
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The Obama administration's new proposal for tackling financial risk in the U.S. economy, unveiled just two days ago, came under attack Thursday from all sides, with critics targeting its funding and scope. Full Article at CNBC
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After weeks of negotiations, the administration and Democratic Representative Barney Frank released a sweeping proposal on Tuesday to give regulators new powers to regulate, and even shut down, big financial firms threatening economic stability. Full Article at International Business Times
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Francis Cianfrocca joins Ben Domenech for the Monday, October 26th edition of Coffee & Markets, a series of brief morning podcasts on politics and the marketplace, now appearing as well on WashingtonTimes.com. Full Article at The New Ledger
Related Quotes
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Money can be spent when appropriated by Congress ... Under this bill the executive branch can spend trillions without congressional appropriations.
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Without the ability for the government to step in, manage the failure of a large firm and contain the risk we are resigned to repeat the experience of last fall
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If our fund is strong and a major nonbank fails, there will be a strong temptation to unfairly raid the bank FDIC fund to pay for it
SOURCE: The Honolulu Advertiser -
What you have is the authority to wind them down, to separate the bad from the good
