Senate banking committee Chairman Christopher Dodd, D-Conn., proposed a system to protect taxpayers from having to rescue "too big to fail" institutions. The proposal has some flaws and has been rightly criticized by Senate Minority Leader Mitch McConnell, R-Ky., and others, but no one has offered a better alternative, according to a Washington Post editorial. "Sen. Bob Corker of Tennessee, a Republican who has negotiated with Democrats on the banking committee, says genuine differences on 'too big to fail' could be worked out 'in five minutes.' Any takers?" the newspaper notes.
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