(Reuters) - The Senate made progress on a financial regulation reform bill on Wednesday, approving two amendments aimed at preventing a repeat of the massive taxpayer bailouts of Wall Street in 2008.
By overwhelming votes, the amendments were added to a broader reform bill, along with two other non-controversial measures, but more troublesome issues loomed ahead dealing with consumer protection and regulation of derivatives markets.
The Senate voted 93-5 for a plan that would set up a new government protocol for seizing and dismantling large financial firms that are in distress.
The measure seeks a middle path between the widely criticized 2008 bailouts of firms such as AIG and the bankruptcy of Lehman Brothers.
No comments:
Post a Comment
Spamming will be removed.
Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.
Note: Only a member of this blog may post a comment.