Rep. Frank says bankruptcy awaits failing banks

10/26/2010 | Bloomberg

Rep. Barney Frank, D-Mass., said banks that are collapsing won't be protected from bankruptcy as they were during the credit crunch. The Dodd-Frank Act gives the government power to unwind failing banks that could threaten the broader financial system. "We do have death panels," Frank said. "Not for old ladies under health care reform but for financial institutions under Dodd-Frank."

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