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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?


To: Real Man who wrote (33146)7/6/2010 11:37:26 PM
From: GROUND ZERO™  Read Replies (1) | Respond to of 103300
 
His policies are not defensible...<g>

GZ



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