Congressional Report Punches Holes in Dodd-Frank

House Financial Services Chairman Spencer Bachus (R-Ala.) released a report in rebuttal to Dodd-Frank supporters who claim the new law ends bailouts. Entitled, “The Dodd-Frank Act, the Persistence of ‘Too Big to Fail,’ and the Institutionalization of Government Bailouts,” the analysis asserts Section 204 of Dodd-Frank allows the FDIC to provide funding to, and pay obligations of, a company that is failing. MHProNews has learned Section 210 authorizes the FDIC to borrow up to 90 percent of a failed firm’s assets in certain cases. For the full report, please click here.

(Image credit: CNNMoney)

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