New bill to breakup companies too big t...
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architect
These be interesting times we live in. One has to hope that there are smart people behind all this stuff.
11/11/2009 11:48:32 AM
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roncpp
Yesterday, Vermont independent congressman Bernie Sanders introduced a bill which recognizes the primary cause of our current financial crisis has been companies who were allowed to become too big to fail, thus requiring taxpayer bailouts. His 2 page bill first states that any company determined to fit this category, being able to bring down the entire US economy by virtue of being too large, will be outlawed. Then the Federal Government has 1 year to break it into less onerous bits, much as did the Federal Courts when we used to have anti-trust laws on the books.
Senator Dodd will be introducing a similar measure in the Senate. The goal is to never have to utter the words "too big to fail" again except in an historical context.
11/11/2009 6:35:55 AM
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