The Obama administration and Congress are getting ready to roll out a whole bevy of new regulations targeted at those famous too-big-to-fail institutions that got bailed out last year. According to the New York Times, the new regulations would “make it easier for the government to seize control of troubled financial institutions, throw out management, wipe out the shareholders and change the terms of existing loans held by the institution.” Congressman Barney Frank says these new regulations amount to “death panels” for financial institutions. And this is supposed to make us feel better?
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- ‘There are lies, damn lies – and statistics.’
- From our friends in the US House