Posted on 04/25/2010 7:27:37 AM PDT by TheNewPundit
Financial Services Committee Ranking Member Spencer Bachus wrote to Treasury Secretary Tim Geithner for the second time in six months asking him to answer specific questions on how the bailout authority that the Obama Administration is advocating will work and how much money will be needed to "resolve" a failed non-bank.
"I asked you six months ago to answer how the ‘resolution authority' you have proposed would work as a practical matter, with specific reference to the Lehman failure. As the Senate prepares to take up this proposal as part of regulatory reform, I am concerned that we are exactly where we were when the Administration first submitted its proposal for our consideration a year ago: without any clear understanding of the costs of this new authority, or how it would be deployed in the event of a major financial institution's collapse."
(Excerpt) Read more at thenewpundit.com ...
The Regime is not concerned about the details, as lomg as they can control the evil financial entities.
This needs to be exposed immediately.
Obamafinance - Palin: Institutionalizing Crony Capitalism, Soros: Go for it
http://www.freerepublic.com/focus/f-news/2499998/posts
It IS their money, you know, so they can do whatever they want. Oh wait!....That is MY money they are throwing around. No more tax money from me....I’ll just use it all myself!!!
He follows the two cardinal rules for Democrats set down decades ago by Da Mare of Chicago, Richard Daley the First, who said: "In politics ya always dance with the guy that brung ya......and never put anything down on paper."
Leni
Details smetails, just sign the bill! Didn’t you hear? Obama won!
Beyond Turbo Tax, Timmy is clueless.
bump
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