This is an opinion item.
| Author(s)
|
National Review editorial board
|
| Source
|
National Review
|
| Date
|
April 26, 2010
|
| URL
|
http://article.nationalreview.com/432504/the-case-against-the-dodd-bill/the-editors
|
| Quote
|
|
"The sophisticated creditors of non-banks, however, neither need nor deserve a bailout. The Dodd bill would not require the FDIC to impose losses on these creditors; it only expresses a “strong presumption” that such losses would be imposed. As structured, this authority would allow the government to bail out non-bank creditors, and worse, to play favorites among them, just as we saw when the Obama administration gift-wrapped large stakes in the automakers for its union allies at the expense of secured creditors."
|
|
|
Add or change this opinion item's references
This item argues against the position Act should be passed on the topic Restoring American Financial Stability Act.
