Financial 'Reform' or Revenge?

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This is an opinion item.

Author(s) Robert J. Samuelson
Source Newsweek
Date July 6, 2010
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.