10/28/2009

Legislation drafted by the House Financial Services Committee outlines steps for dealing with a collapse of the largest, systemically important financial institutions, which would include requiring other major financial firms to pay for the rescue. The bill -- a compromise worked out by Rep. Barney Frank, D-Mass., chairman of the committee, and the Treasury Department -- also would give authority to the Federal Reserve to shrink companies that are deemed to pose a systemic risk.

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