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GOP's plan to fix banks
Republican House leaders Rep. Jeb Hensarling, R-Tx, and Spencer Bachus, R-Ala., have put forth their own bank regulation plan, leaving most current regulators more or less intact, two days before Obama's is due.
Republican House leaders Rep. Jeb Hensarling, R-Tx, and Spencer Bachus, R-Ala., have put forth their own bank regulation plan, two days before Obama's is due. Read a summary, courtesy of Blank Rome, here, and a short comment here. Includes quicker investment-bank bankruptcy; a Market Stability Board; limits on the Federal Reserve's power, and lets GAO audit its books; keeps the other mash of regulatory agencies mostly intact; increases fines for corporate corruption.