The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: Real Man who wrote (33146)	7/7/2010 5:45:44 AM
From: GROUND ZERO™	1 Recommendation Read Replies (1) of 103300

The Recovery Prevention Act of 2010 By: Nicole Gelinas July 7, 2010 The Dodd-Frank bill is a monument to the status quo. Despite promises that the bill will end bailouts, it enshrines bailouts into law. It provides for an "orderly liquidation authority," for example, which allows "systemically important" financial firms to escape bankruptcy and to escape, too, consistent losses for their creditors. It also sets up a fast-track procedure through which the White House can ask Congress for guarantees for Wall Street's lenders in a future crisis. In effect, the government is saying to Wall Street's lenders: Carry on as you did before 2008. washingtonexaminer.com GZ

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