Regulators say Dodd-Frank power will help them avert bank rescues

09/1/2010 | Reuters

U.S. banking regulators told the Financial Crisis Inquiry Commission that power provided by the Dodd-Frank act should help them avoid more rescues if crisis should hit major financial institutions. "The real question before us is: How did we end up with only two choices -- either bail out the banks, or watch our world sink?" said Phil Angelides, chairman of the commission.

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