RSSBoth sides scrutinize bailout-deterrent bill
From: The Washington Times | October 31, 2009
Lawmakers from both parties are concerned that an Obama administration-backed bill intended to deter future taxpayer-funded Wall Street bailouts would have the opposite effect and give the White House too much power over the nation’s financial sector. Some House members are worried the measure would allow the federal government, under certain circumstances, to pump rescue money into failing Wall Street giants with little or no input from Congress – potentially leaving taxpayers on the hook for billions of dollars. “I’m not a man that fears this administration or you,” Rep. Paul E. Kanjorski, Pennsylvania Democrat, told Treasury Secretary Timothy F. …
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