Do you like it when our government uses enormous sums of tax dollars to bail out "too big to fail" financial institutions whose incompetent or shady business practices have gotten them into a heap of trouble? If so, the Senate has the bill for you!
So concludes a new analysis from the Congressional Budget Office about legislation that goes to an initial vote in the Senate on Tuesday. Among other measures, the bill would exempt around two dozen banks valued between $50 billion and $250 billion from regulation by the Federal Reserve to which other financial companies are subject, a change the CBO says would make bailouts more likely.
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