Socialist takeover of Banking System/The same man who brought us Fannie and Freddie/Dodd Bill to Toughen Stance Against Banks

March 14, 2010
By CMAC

Senate Banking Committee Chairman Christopher Dodd (D., Conn.) is finalizing a bill to rework financial market rules that is expected to be tougher against banks than previously expected, people familiar with the matter said.

Though details of the bill could still change before it is introduced Monday, some details emerged Saturday as aides and White House officials conferred.

The biggest winner in the bill appears to be the Federal Reserve, which would see its powers expand considerably. Large financial companies, particularly big banks, could emerge as the biggest losers. They would face much higher scrutiny from bank supervisors and potentially face sanctions for violating consumer protection rules by an autonomous new division within the Fed.


  • Share/Bookmark

Leave a Reply

Ads Plugin created by Jake Ruston - Sponsored by Broyhill Furniture.