Obama's budget includes $867 million placeholder for financial revamp

02/1/2010 | Wall Street Journal, The

The Obama administration's proposed budget for fiscal 2011 includes, under the heading "Financial Reform," $857 million for the Federal Deposit Insurance Corp. to cover the cost of resolving systemically risky financial institutions. There is also $10 million for various agencies to help launch the proposed Consumer Financial Protection Agency. Both figures are placeholders as the regulatory revamp remains uncertain.

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Wall Street Journal, The

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