Thursday, May 6, 2010
Senate approves plan for breaking up failing financial firms
Senators approved an amendment to financial-overhaul legislation that would give the government authority to break up financial firms that are on the verge of collapse. The plan would prevent taxpayer funds from being used to keep companies deemed "too big to fail" from failing. The Senate is poised to start discussing and voting on other central issues of the legislation, including the creation of a consumer-protection agency.
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