RSSDodd circulates financial overhaul bill
From: The Washington Times | November 10, 2009
Sen. Christopher J. Dodd, Senate Banking Committee chairman, on Tuesday called for sweeping new government powers to prevent another economic collapse, protect consumers and dismantle failing institutions. Mr. Dodd's 1,100-page draft would strip the Federal Reserve and other regulators of their powers to regulate banks and hand that job to a single agency. The bill also would take away the Fed's ability to monitor credit cards and mortgages and establish a new Consumer Financial Protection Agency. The bill, inspired by last year's financial meltdown, will minimize "economic turmoil and protect the interest of taxpayers," Mr. Dodd, Connecticut Democrat, wrote. President ...
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