IPFS News Link • Philosophy: Fascism
Treasury near deal on 'too big to fail'
• APThe Treasury Department and a senior House Democrat have decided
against making financial firms pay upfront the costs of dismantling
them if regulators decide they have grown "too big to fail," according
to a House aide familiar with the plan.
Instead, those companies would be allowed to borrow money from the government. The government would then recoup the costs by either seizing the firm's profits or seeking restitution from the entire industry, the aide said.
1 Comments in Response to Treasury near deal on 'too big to fail'
Hey, that's good news! Borrowing money is always better than extorting it or stealing it as they have been doing thus far.