Which sections of Dodd's Dud perpetuate bailouts? It's not just the reserve fund

Bailouts are bad.  Too big to fail is wrong.  There has never been a too big to fail that ended life as we know it.  The Lehman failure is often put up as an example.  If any firm was too big to fail, that was it.  However, as bad as the Lehman Brother's failure was, none of their counterparties went belly up?  Zero.  How much taxpayer money was used to prop up Lehman Brothers? Zero. 

Dodd's Dud will codify and perpetuate failure.

Rep. Garrett (R-N.J.) on Wednesday explained why Dodd's Dud creates endless bailouts for banks and details the specific parts of the bill, via the Australian
"Even if you took out the $50 billion [reserve] fund, you would still have Section 210H, which would allow for the securing of creditors; you would still have Section 1151 and 1155 that would allow that as well; you would still have Section 113, which would expand the powers of the bailout to go even further than they do now," he said. "So you have a number of other sections -- which is just off the top of my head -- that would expand the ability of the Federal Reserve and the Treasury to do what they did this past time and that is use taxpayers' money to be at risk to bailout Wall Street."


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