Frank decides against fast-tracking regulatory bill

04/23/2009 | Wall Street Journal, The

Rather than expediting legislation that would allow government officials to take over large financial firms, House Financial Services Committee Chairman Barney Frank, D-Mass., decided that the complexity of the bill requires more consideration. Frank will package the legislation with a broader bill that aims to establish a systemic-risk regulator. "It was a mistake to think it could be done early," Frank said. The "whole package will have to go together."

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