The original content of Democracy Now! Headlines appears under the Creative
Commons BY-NC-ND 3.0 License (United States). For more, including their other
shows and media, visit www.democracynow.org.
November 12, 2009

Dodd Unveils Senate Financial Overhaul Bill
-------------------------------------------



Democratic Senator Christopher Dodd has unveiled a proposal to
consolidate bank regulators into a single oversight agency. Dodd’s plan
would eliminate the four separate bodies that oversee the nation’s more
than 8,000 banks and create a new consumer protection watchdog. Speaking
in Washington, Dodd said the measure would address the regulator gaps
that led to the nation’s financial collapse.

Sen. Christopher Dodd: “Our proposal will replace the myriad government
agencies that failed, in my view, to rein in the risky schemes, with a
single, accountable federal banking regulator. We will end—for all time,
I hope—‘too big to fail.’ Those words should only be used again in a
historical context. We cannot allow the collapse of a few firms to
threaten the entire economy, our own nation, and others around the
globe, for that matter.”



.