First amendment passes
May 5, 2010 | federal legislation, industry | Comments (0)I guess it’s no longer a “bailout bill.” Shows what public opinion can do to change a lot of Senators’ minds. From the story:
The U.S. Senate Wednesday voted 93-5 in favor of an amendment aimed at preventing future taxpayer bailouts of big banks and investment firms.
The legislation removes a $50 billion fund that would have covered the cost of liquidating collapsed financial firms, The Washington Post reported. Republicans opposed the fund, to have been paid for by the financial industry, saying it would have been an incentive for companies to make risky investments.
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