Lawmakers move forward to repeal Lincoln amendment

02/20/2012 | Washington Post, The

Republican and Democratic lawmakers are moving to repeal the Lincoln amendment, which would prohibit companies that trade some types of derivatives from receiving government aid. The amendment to the Dodd-Frank Act was proposed by then-Sen. Blanche Lincoln, D-Ark., as a means to make taxpayer-funded rescues of large financial institutions less likely. The Lincoln amendment is scheduled to go into effect in July.

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