Republican lawmakers on Tuesday gathered on Capitol Hill to promote their financial regulatory reform legislation seeking to expedite the bankruptcy process and create an independent trust to oversee American International Group Inc., General Motors and other large bank bailout recipients. "We need to end the bailouts once and for all," said Rep. Spencer Bachus, R-Ala. Bachus and other GOP House members expressed concern that the Obama administration plan and efforts under way by Democratic lawmakers on Capitol Hill to reform the financial system will enshrine a culture of continued bailouts.
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