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October 28, 2009

Admin Proposes Fund for Wall Street Bailouts
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The Obama administration has unveiled legislation that would allow the
government to shift the cost of future bailouts of troubled firms to
other large companies. The measure would create a fund from companies
with over $10 billion in assets to bear the costs of rescuing other
so-called “too big to fail” firms. The legislation was drafted by
Treasury officials and House Financial Services Committee chair Barney
Frank.



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