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News Link • Philosophy: Fascism

Treasury near deal on 'too big to fail'

• AP
The 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

Comment by Lola Flores
Entered on:

 Hey, that's good news!  Borrowing money is always better than extorting it or stealing it as they have been doing thus far.

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