Financial 'Reform' or Revenge?

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Revision as of 04:40, 26 July 2010 by Yaron Koren (talk | contribs) (Created page with '{{Item |author=Robert J. Samuelson |source=Newsweek |date=July 6, 2010 |url=http://www.newsweek.com/2010/07/06/financial-reform-or-revenge.html |quote="The trouble is that—cont...')
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This is an opinion item.

Author(s) Robert J. Samuelson
Source Newsweek
Date July 6, 2010
URL http://www.newsweek.com/2010/07/06/financial-reform-or-revenge.html
Quote
Quotes-start.png "The trouble is that—contrary to conventional wisdom—"too big to fail" was just a symptom of the crisis, not its basic cause. That was old-fashioned bad lending: home loans to borrowers who couldn't repay. The panic arose because no one knew the size or location of the losses, now estimated to exceed $1 trillion. Ironically, the legislation may weaken the government's ability to quell future panics by restricting-in highly technical ways-the Fed's authority to lend to panic-stricken institutions in the midst of crisis." Quotes-end.png


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This item argues against the position Act should be passed on the topic Restoring American Financial Stability Act.