House lawmakers discuss measure to limit systemic risk
Members of the House Financial Services Committee continue to battle over giving the government authority to wind down or split up major financial institutions to curb threats to the broader system. "This legislation would take the [Troubled Asset Relief Program] and make it an eternal TARP program," said Rep. Jeb Hensarling, R-Texas. Other lawmakers argued that the legislation would allow the government to more easily deal with issues. "This is about ensuring that our financial institutions are never again allowed to engage in the risky behavior that is so detrimental," said Rep. Luis Gutierrez, D-Ill.
Wall Street Journal, The | 11/05
This story published in SIFMA SmartBrief on 11/06/2009
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