New bank rules ‘too big to fail’

From: The Washington Times | October 24, 2009 

The Obama administration Monday plans to unveil a new plan for dealing with troubled financial giants, a senior House lawmaker said Friday, adding that Congress is also eyeing potentially major changes for regulating the insurance industry. House Financial Services Committee Chairman Barney Frank, Massachusetts Democrat and a chief architect of the financial regulation overhaul, declined Friday to give details on the administration’s new bill, which would give the government the power to dismantle large financial companies that run into crippling balance-sheet problems. The new draft bill is expected to take a tougher stance toward troubled financial firms than the administration’s …

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