Senators Introduce Bill Limiting Fed’s Lending Authority, Ending ‘Too Big to Fail’

first_img Previous: Millennials’ Credit Access Not Hindered by Student Loan Debt, Study Shows Next: FHFA Director Watt Outlines Positive Developments for Federal Home Loan Banks Senators Introduce Bill Limiting Fed’s Lending Authority, Ending ‘Too Big to Fail’ Sign up for DS News Daily Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland.  Print This Post in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Federal Reserve Senator David Vitter Senator Elizabeth Warren Too Big to Fail 2015-05-13 Brian Honea Two members of the U.S. Senate Banking Committee, Elizabeth Warren (D-Massachusetts) and David Vitter (R-Louisiana), have introduced legislation attempting to stop the government from bailing out large financial institutions, according to an announcement on Warren’s website on Wednesday.The Bailout Prevention Act is aimed at ending “too big to fail” by limiting the lending authority of the Federal Reserve.”If big financial institutions know they can get cheap cash from the Fed in a crisis, they have less incentive to manage their risks carefully – which further increases the chance of another financial crisis,” Warren said. “This bill would make our financial system safer and help level the playing field between the megabanks and their smaller competitors.”Following the multitude of multi-billion dollar bailouts of several of the nation’s largest financial institutions during the financial crisis, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 directed the Fed to limit its spending authority. The Fed’s proposed rule, however, has done little to this effect, according to Warren’s announcement. Warren, Vitter, and 13 other Senators sent a letter to the Fed last August asking the central bank strengthen its lending restrictions, but the Fed has not acted on the issue.”It’s no secret that too big to fail is still around. If another financial crisis happened tomorrow – and that’s still a real risk – nobody doubts that megabanks would be calling on the federal government to bail them out again,” Vitter said. “Our legislation makes common sense reforms to the Fed’s emergency lending powers to protect taxpayers the next time the megabanks lead us into another crisis.”Other changes the new bill would bring about are: Requiring lending programs to be truly broad-based, restricting lending to only those institutions that are not insolvent, and requiring lending to be provided at a penalty rate.Click here to read the full text of the Bailout Prevention Act introduced Wednesday by Warren and Vitter.It is the second bill in a week introduced by Warren attempting some sort of Federal Reserve reform. Warren has been a major figure in Wall Street reform since the crisis and was the chief architect of the controversial Consumer Financial Protection Bureau. Last week, Vitter and Warren introduced the Fed Accountability Act, which is aimed at increasing the independence of the individual Fed governors to improve the central bank’s decision-making process, and at providing more transparency to votes on enforcement actions taken that total more than $1 million. Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Senators Introduce Bill Limiting Fed’s Lending Authority, Ending ‘Too Big to Fail’ The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Federal Reserve Senator David Vitter Senator Elizabeth Warren Too Big to Fail The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago May 13, 2015 1,017 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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Man City star Sterling to miss West Ham clash

first_img Promoted ContentWhich Country Is The Most Romantic In The World?6 Stunning Bridges You’ll Want To See With Your Own Eyes9 Facts You Should Know Before Getting A TattooPortuguese Street Artist Creates Hyper-Realistic 3D Graffiti10 Risky Jobs Some Women Do9 Iconic Roles That Could Have Been Played By Different ActorsCan Playing Too Many Video Games Hurt Your Body?The Funniest Prankster Grandma And Her Grandson5 Of The World’s Most Unique Theme ParksIs This The Most Delicious Food In The World?6 Incredibly Strange Facts About HurricanesA Guy Turns Gray Walls And Simple Bricks Into Works Of Art Loading… “Raheem Sterling will miss our game against West Ham this weekend after scans revealed he has suffered damage to his left hamstring. Everyone at City wishes @sterling7 a full and speedy recovery,” City said on their Twitter account. City manager Pep Guardiola will hope Sterling’s absence is not much longer than the West Ham game as his side gear up for a hectic schedule. They travel to top-four rivals Leicester on February 22 and then head to Spain to face Real in the Champions League last-16 first leg four days later. Manchester City winger Raheem Sterling will miss Sunday’s Premier League clash against West Ham and could face a race to be fit for their Champions League showdown with Real Madrid after suffering a hamstring injury. Manchester City’s Raheem Sterling has suffered a hamstring injury Sterling limped off during Sunday’s defeat at Tottenham and the club have confirmed the injury will sideline the England international this weekend.Advertisement Read Also: Juventus considering joining the race for Man City star linked with BayernCity would also want Sterling to be available for the League Cup final against Aston Villa on March 1.The 25-year-old, who came off in the 84th minute against Tottenham, is one of City’s top goalscorers this season with 20 in all competitions.Sterling has only missed two Premier League matches this season, where he was an unused substitute.FacebookTwitterWhatsAppEmail分享 last_img read more

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