Update to Financial Regulation Reform Package
May 5th, 2010
Since my last post, congress has worked hard to iron differences between the Democrats and Republicans in regards to a few contentious elements of the reform package. As of this morning, Democrats have removed the “$50 billion bailout” fund that was intended to be used to disolve failing financial institutions in the future. Republicans believed this fund would just be a continous bailout fund that would allow companies to stay in business by tapping the fund whenever they were in financial trouble. This concession by Democrats should allow for the reform package to be passed with bipartisan support in the coming weeks.
